Took part in Citibank FX challenge yesterday. I only had 4 hours of sleep before i had to woke up at 6am.
Some details:
Prelim Round (NTU)
2 sessions in a round. 50 teams. Top 8 teams advance to finals at 2.45pm. Bank 33 clinched top rank. uh, that's my team.
Finals
3 sessions. Only top 10 will be awarded prizes. The 2 people in the best team gets intership at citibank trading section!
So my team was really doing great in the session 1 of the finals, where we needed to deal with 2 currencies. We were up 1.4mil in profit/loss. The session 2 saw the addition of another currency. We lost all that profit because we tried to split our focus evenly on all 3 currencies. That situation didn't change till the end, when we saw a slight increase in our P/L in the 2 original currencies. So all in all, we were up 300k. But not good enough for the top 10 since the last on that list was 1.7mil. Winner locked in 5.7 mil. In conclusion, our fiercely discussed strategy worked in an environment of 2 currencies, but not 3 when the flurry of news breakout made things worse.
Good exposure. Great workout for my heart, which raced crazily during the sessions.