Had a neutral day. While I made +$1162 trading stocks, I've lost quite a bit trading forex. I opened the account and did well the first day making 11.8 pips--even had some of it sent to me as a check (for safer keeping). But when I tried making some more trades last night, I got stuck in a trade that turned out to hurt quite a bit. Ended up losing $1300 or so. Made back about $400 around the FOMC meeting trading another pair. I'm currently down about 1200 or so.
I think I'll make it back. I just have to take my time and exercise patience/discipline and realize that I need to get into the "forex groove."
5 comments:
Sorry about the forex. I guess every instrument has its own tuition.
On the brighter side, you've been on a roll with stocks lately. Very slick scalping. :)
I'm loving stocks/futures at the moment =) (you're not doing so bad yourself).
And with forex, I'll figure it out someday. Even if it kills me.
Nice gain on ES there. Just curious, why not just focus on trading the S&Ps and stocks? You're doing very well with those.
I enjoy trading =) It's like a puzzle to me. I'd probably try trading any number of things. Who knows? Livestock could be next.
No livestock, crude oil, coffees and beans, Ryan!! The only futures worth trading are index, interest rates & currency futures.
Spot forex is tricky. You'll have to specialize in it to do well. There're many good forex traders (Trader Gav, Lonely Trader, Lord Tedders, Kiwi Trader etc - and I believe that they focus MAINLY on forex).
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