PnL (Net): + USD 183.856B trade was a scratch. Just didn't feel that price was ready to reverse. It's been a pretty slow day. Many charts were plain ugly. A rather typical Monday. Will be watching mostly index futures and ETFs later today.
6B 200-Ticks
D had Oanda re-installed and I'm going to be spending some time getting re-acquainted with the platform (the last time I touched it was a year ago if I remember correctly - and was pleasantly surprised to see INTEREST paid to me!) while arranging for additional funds to be wired to Oanda (I hardly used leverage back then, but was trading micro lots, so the account had always been pretty darn small).I'm sure it's going to be confusion all over again over pip values.
Will be trading mini lot size of $10K, and trading off the 4-hourly or hourly chart. These are timeframes I hardly use for entries, and it's going to be a real test of my patience (how do you do it, Gav?? And Lonely?? 8-hourly is such a pain to watch...). Again, won't be using any leverage. Will trade one pair at a time.
I wonder if I ever mentioned that Forex was the first instrument I traded...
De'Trader reminded me some time back that when I was still part of their community, I used to share how I traded FX: LET LOSSES RUN, take profit whenever I feel like it.
It worked for me, seriously. There was really no skills involved/needed. And I would trade multiple pairs simultaneously. It was actually rather fun. Those were the days...
6 comments:
Nice trading today Jules!
:-) Thank you, DT :-)
The smaller tick value helps. A LOT. :-)
Jules,
I didn't know that Forex was your first trading instrument.
And yes the 8hrly (or even 4hour) is a great timeframe for Forex. Scalping is just too expensive compared to the Futs.
LT
LT!!! :-)
Yes, I started with Forex, but switched to options and futures coz I could scalp them and get a much higher return from scalping.
But here I am, back to trading less leveraged and non-leveraged instruments :-)
I read on Lonely's business plan that he was trading to become a PROFICIENT trader, and couldn't get those words out of my head for days. I finally realized that the only way that I would ever become consistent and skillful is to stop bothering about MONEY. :-)
How have you been keeping?
Jules,
I've been staying focused on the longer time frames and really enjoying my trading like never before. Making decent money too.
Been thinking about moving my blog to wordpress and revamping it. Probably won't focus on it being a trading journal cause 5-10 trades a month is boring to watch!
LT
Why are good trades boring to watch, LT?
Thought you were making some videos? Your other blog's getting all your attention I reckon :-)
Is wordpress really better?
Glad to know that you're doing well :-) I've been reading about how traders don't do as well when they report their trades (Solfest is a unique species LOL!). Different strokes for different folks :-)
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