Journal of a Novice-Level Speculator

No trading today. I was just watching my USD/CAD position fluctuates a bit. It hasn't come back down to my breakeven point yet, so I am glad. However, what I really want is for USD/CAD to come back down, take my stop out, which is at breakeven, and let me re-enter at a better price. I just hate my original entry and I need to get a better one.

If I failed to get another entry, that's fine. My capital is preserved and that's all that matters to me.


PA
 
Quote from Pension_Admin:


However, what I really want is for USD/CAD to come back down, take my stop out, which is at breakeven, and let me re-enter at a better price. I just hate my original entry and I need to get a better one.


PA
More...

Why not close the position?
Why stay in a trade you are not happy with?
 
Quote from deaddog:

Why not close the position?
Why stay in a trade you are not happy with?
More...

I love the position, but I just don't like the entry. So, I will keep the position open until it either hit my profit target or hit my stop loss at break-even. Having the position doesn't hurt, but closing the position now will eventually messed up the risk:reward in the long-run.


PA
 
No trade this week. I will probably take some actions next week.

Anyway, I have been losing a lot of motivation lately. I have gone through a few interviews and I still haven't got anything yet. I think I will need to work on my presentation skills.

Also I have been very behind with my CFA study. I started to doubt the usefulness of this designation in my accounting career. I need to build enough motivation to continue to study the CFA materials.


PA
 
PA, if your only motivation for CFA is for your accounting career, I, as a CFA, would not encourage you for this endeavor. The cost-benefit is not in your favor. Wouldn't you think a CPA is more valuable for an accountant?
 
Quote from hgocm:

PA, if your only motivation for CFA is for your accounting career, I, as a CFA, would not encourage you for this endeavor. The cost-benefit is not in your favor. Wouldn't you think a CPA is more valuable for an accountant?
More...

I got an accounting designation already, but it's not CPA.

You are right tho. The cost and benefit is not favorable. I would be better off learning programming and database management.

I will consider a CPA depending on what job I end up with.

Thanks for the advice!

PA
 
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