Friday, 25 February 2011

Day one dramas

So, day 1 and i stuck to my plan.....and well lets call it a learning experience.

7 trades, the first one I have to admit I screwed up, coming off my practice account I was used to the order quantity being 100,000 units, but in a live account it was 10,000 units, so despite it being one of my only 2 successful trades for the day it yielded me a postage stamp.

Of the other 6 trades all but one of them moved on a macro level in the way I expected, so for example when I sold the US against the Japanese Yen, overall it hit my predicted target, but I got stopped out by a momentary surge. This happened all day. So I am fearful my tight stops on small target profits aren't robust enough to survive the ups and downs of the market.

Instead of predicting a line, I realise I am predicting a tennis ball bouncing down stairs.




Wednesday, 23 February 2011

Practice makes permanent

At the start of February I decided to try trading in the Forex, but first i thought before I pour buckets of money into another fantastic scheme I need to do some research.

So, Im off to find :
  • Information about trading platforms
  • Strategies
  • Seminars
  • Tools
  • Trading companies
I dont sit at home a great deal, so I will want to be able to trade on the go, so that definately means I will be needing a browser platform and ideally an iPhone platform.