Baggerlords Journal

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Quote from Trend Fader:

so at $2500.. u are doing a .25cent per PIP?



--MIKE
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Thats right. I know it ain't much, but right now I'm doing this for education, not income.
 
No I determine my stop loss, and then use that to figure how many $ I should trade so I am risking max of 10%. Update, just closed a Eur/USD short puts me at $131.
 
I don't have a target set in stone. I take small profit all the way up so it it turns against me I still do good. I'll be taking heavier profits around the 1.0933 range as this is the previous high. I'll be watching closely when it reaches this area, assuming I am here, and will decide then what I want to hold out for.
 
I am thinkin again of trading stocks. The PDT rule is a pain in the arse, but I could do some position trading. There is no sense in letting my 2k sit idly, and I am not going to send it to the currency account. I have been looking at weekly and monthly(!) charts and have been seeing some great profit opportunities in under a months time. At this time scale candlesticks seem to take on great meaning and there are lots of great low risk trades. I think I will study stock trading for a few more weeks and then give it a whirl.
 
Quote from pvTrader:

If you're doing so well with currencies, why not just stick with it?
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I'm going to keep trading the currencies, but 3 days of success doesn't mean much. At this point I will just keep trading my little old account until I really get the hang of it. If and when I think I've got it I might consider sending in a little more dough, in the meanwhile I would also like to pursue some longer term stock trading. Still trying to find my ideal vehicle I suppose.
 
My stop got taken out, of course price reversed and is currently rocketing towards my target. :mad: I was asleep so I couldn't get back on board, this is the downside of the 24hr thing.
Just shorted Eur/Aud 1.6994 stop 1.71 target 1.68
 
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