Added another short to my USD/JPY position.
PA
PA
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Journal of a Novice-Level Speculator
- Thread starter Pension_Admin
- Start date
looks you are in similar situation as mine. I have a tiny account at 4.3k around, a little better, but almost the same. when I saw your tiny account and still fighting, I felt I am a big gun.
actually you can zoom in on penny stocks under $1, it will magnify a tiny account into a big account. you have 1k, for a penny like $0.8~2.0, you can buy a big lot like 1200 to 500shares, that is huge. $0.1 move will be a home run! the problem may be you can only do three day trades a week, but who cares if you can gain 10% three times a week. currency is too slow, not a good choice.
I am playing the same trick to magnify my tiny account into a big gun account.
actually you can zoom in on penny stocks under $1, it will magnify a tiny account into a big account. you have 1k, for a penny like $0.8~2.0, you can buy a big lot like 1200 to 500shares, that is huge. $0.1 move will be a home run! the problem may be you can only do three day trades a week, but who cares if you can gain 10% three times a week. currency is too slow, not a good choice.
I am playing the same trick to magnify my tiny account into a big gun account.
Quote from nokomisjeff:
you should look into trading spus.
I am actually wanted to trade many other instruments, but I just don't have the capital for it at the moment.
Hopefully later on, I'll have enough capital for trading any instruments that make business sense (from the perspective of execution costs, slippage, and tools for overnight risk management)
BTW: Sorry, I am new to that term spus. What is it? Is it S&P US? Also, what do you find about spus that's appealing?
Thanks!
PA
Quote from trader198:
looks you are in similar situation as mine. I have a tiny account at 4.3k around, a little better, but almost the same. when I saw your tiny account and still fighting, I felt I am a big gun.
actually you can zoom in on penny stocks under $1, it will magnify a tiny account into a big account. you have 1k, for a penny like $0.8~2.0, you can buy a big lot like 1200 to 500shares, that is huge. $0.1 move will be a home run! the problem may be you can only do three day trades a week, but who cares if you can gain 10% three times a week. currency is too slow, not a good choice.
I am playing the same trick to magnify my tiny account into a big gun account.
Thanks for the suggestion, but trading penny stock might mess up my expected risk and reward ratio. The commission cost and the liquidity problem will be too costly too me.
PA
Stopped at break even in one trade.
Watching the other. I'll probably stick to this position with conviction.
PA
Watching the other. I'll probably stick to this position with conviction.
PA
Stopped out on the other trade. Loss 50
Remaining Balance 970
USD/JPY was an interesting trade. The consolidation really created the coin flip scenario. Too bad I was on the wrong side.
Hopefully in the long run, my win/loss will be 50/50.
PA
Remaining Balance 970
USD/JPY was an interesting trade. The consolidation really created the coin flip scenario. Too bad I was on the wrong side.
Hopefully in the long run, my win/loss will be 50/50.
PA
Short GBP/JPY.
Stop loss set to break even. I will short again if it hit my stop loss.
PA
PA
Stopped at break even. I will try to enter again tomorrow.
PA
PA
Short GBP/JPY again.