Monday’s contestant number 1 – whose portfolios held all three of the top spots – remained high on the leaderboard on Tuesday, as he closed the day with a currency portfolio balance of $190,476.91, gaining almost $10,000 in a single day. As we mentioned yesterday, contestant number 1 has taken a liking to the very volatile GBP/JPY and has frequently traded the pair on a short-term basis, flipping between long and short positions on an intraday and daily basis. His most recent effort to buy GBP/JPY on Monday near 205 worked out in his favor, as the pair rocketed higher during Tuesday’s trading session. While contestant number 1 has since exited this position with a profit, he sold GBP/JPY a good distance lower than Tuesday’s highs near 207. As a result, this leader’s days as a frontrunner may be numbered, especially since the runner-up is playing a completely different strategy.

Indeed, the same person is holding two of the top portfolios, as the second largest portfolio balance on Tuesday amounts to $183,721.40 while the third largest balance adds up to $173,714.80. How has he made his profits? This contestant, like the majority of participants in the currency trading portion of the contest, clearly prefers EUR/USD. This isn’t entirely surprising, as it is one of the most frequently discussed pairs in the media when referencing US dollar price action, tends to move in line with fundamental news, and also trades well within technical support/resistance levels (rather than blowing right through them like the Japanese yen crosses).