After this Russia invasion, I opened up my paper trading Forex account. I made some basic guesses based on money moving into safe havens and out of the Euro (and GBP to lesser extent). On $40,000 pretend margin dollars, I profited $16,000 within 48 hours. So I decided to give the real thing another try. I have money in a Forex and a futures trading account.
Here's what I've noticed about my trading and psychology so far. It's a lot different when it's real money obviously.
I'm making predictions based on publicly available information and my opinions of where things with move in the short to medium term. However, I've noticed that I can't resist taking profits when I'm about 10-15% profit. My trades are between $6k-$15k margin each.
However, this leaves me in a position where I often have a bunch of currently negative trades open. For example, if I think the EUR/USD will go down over the short to medium term, then I will still hold the pair even if it immediately goes up after I buy it.
What do you think of this trading strategy? It will mostly involve major currency pairs and commodity and index futures.
Example: I bought CLM22 at 100.37, then couldn't resist selling it at 102.12. After that, it went up to above 107, so I definitely missed out on potential profits... But then it went down below 100 before going back up to the 102.40 level it's at now.
My predictions are based on things that could take several weeks or even months to materialize, but I find myself having a hard time holding them more than a single day if things are going my way.
Here's what I've noticed about my trading and psychology so far. It's a lot different when it's real money obviously.
I'm making predictions based on publicly available information and my opinions of where things with move in the short to medium term. However, I've noticed that I can't resist taking profits when I'm about 10-15% profit. My trades are between $6k-$15k margin each.
However, this leaves me in a position where I often have a bunch of currently negative trades open. For example, if I think the EUR/USD will go down over the short to medium term, then I will still hold the pair even if it immediately goes up after I buy it.
What do you think of this trading strategy? It will mostly involve major currency pairs and commodity and index futures.
Example: I bought CLM22 at 100.37, then couldn't resist selling it at 102.12. After that, it went up to above 107, so I definitely missed out on potential profits... But then it went down below 100 before going back up to the 102.40 level it's at now.
My predictions are based on things that could take several weeks or even months to materialize, but I find myself having a hard time holding them more than a single day if things are going my way.
