Posted January 15, 2015 Niroshan Satkunalingam
After trading four months live, I am delighted to have won trader of the month in December. I started being more involved in the Eurodollar market, where it has recently been volatile. This gave me the opportunity to get into good longer-term trades.
However the bulk of my trades were completed in the oil markets where prices have continued to fall with Brent and WTI reaching $50 per barrel. Despite the prices approaching six year lows, it is difficult to see where the bottom is. Currently major banks have been cutting their forecasts for oil prices with Goldman Sachs suggesting that WTI will continue to plummet until $40.50 a barrel and $42 in Brent. If prices continue to drop, then more oil fields are going to be failing to break even endangering output levels.
In my fifth month of live trading I hope to continue improving my market knowledge and build upon my confidence which has continued to develop. By completing more trades, I am starting to improve my ability to spot opportunities and patterns in the market. Furthermore, I feel that when positions are moving against me, I am able to trade around these positions whereas in my previous months of trading I would have panicked.
On the whole, I look forward to trading in January and hope to keep hold of the title as trader of the month!
Niroshan received a pair of Grado SR125e Prestige Series headphones for winning Trader of the Month.