Finally giving it (another) go

Amendment to above:

First winner was 2.5 x risk.

Then a loss of obviously 1 x risk.

Another loss put me slightly up for the day.

Very confusing trying to type and watch trades.

Either way, no great damage done on day 1!
 
A quick review of day 1

First of all, I survived, and didn't make a loss!

Tomorrow is a big day in Scotland and I'm unlikely to spend too much time at the computer

Any advice or comments will be gratefully received.

I've decided to drop commodities and will concentrate on a just a few currency pairs and a couple of indices.

Thanks for the comments so far. Really helpful.
 
So, playing the Devil's part..........i'm good at that, 2 months, i know you have done this for longer, so what ya guna do, if it all comes together in six weeks time.

Have you thought about your living expenses and if you would do this full time.

Answers on a postcard............:innocent:
 
I start a new contract in a couple of months and that will be full time.
Trading for a couple of months will hopefully do 2 things....speed up my learning curve, and give me an opportunity see if I like it.
So at this stage, I'm having a two month holiday to pursue a hobby. Maybe I'll be good at it and love it. Maybe I'll be crap and hate it.
This seems like a good opportunity to give it a try without risking too much.
I have a modest bank and although I'd rather not.lose it, I could live with it if I did.
 
Edinburgh Trader said:
I start a new contract in a couple of months and that will be full time.
Trading for a couple of months will hopefully do 2 things....speed up my learning curve, and give me an opportunity see if I like it.
So at this stage, I'm having a two month holiday to pursue a hobby. Maybe I'll be good at it and love it. Maybe I'll be crap and hate it.
This seems like a good opportunity to give it a try without risking too much.
I have a modest bank and although I'd rather not.lose it, I could live with it if I did.
Click to expand...

What line of work are you in ?
 
To be honest I needed an excuse for a break, and this was it!
I'll plug away for the next couple of months and see what happens!
 
Hi ET

I have read through today's thread and see you welcome inputs etc etc.

First of all I wish you well and hope the next 2 months goes well for you

I am a full time FX intrader - ( scalper and onto intraday swing ) and trade every day from Opens to after London close. I have a couple of threads on here and quite happy to assist you on the forex side ( thats all I trade) and I average 10 -20 trades every day - and post anything from 30 - 60 comments a day on what I am doing etcetc

The first trick is having multi screens - at least 3 or 4 - and also being a quick typist .

It took me approx 5 yrs to go full time and then I have been at it for another 7 yrs now clocking up over 15 k of live trades.

I find blogging keeps me focused - as trading is boring and after many years you can read most of the tricks being played out.

Stick with only 2 to 4 main FX pairs for a start - become a specialist on 2 of them - know how they breath and read PA at the "coalface".

You are in a dynamic market - keep your stops fluid - ( all mine are 3-7 pips on ever scalp) and also targets adjustable with good MM to keep you in winners and out of losers asap

I look forward to watching your progress and I will comment on some of your calls if you would like and you are welcome to share mine as well

Good Luck - stay in the game and keep focused and calm

All the best

Regards


F
 
Thanks F,
Yes, please feel free to comment on my trades. I am here to learn.
I thought long and hard about I should "go public", but at the end of the day I have nothing to lose.
I love the idea of how tight your stops are. I like the idea of getting out quickly if I'm wrong.
At present I would say I have a trading plan, rather than a trading system. I would welcome all suggestions, and am prepared to learn!
 
I am very tempted to short the FTSE100 this morning, but I am resisting that temptation. I need to trade what I say, rather than trade what I think. My gut think we might sell off today, but I completely accept that would be no more than a guess.
Patience is something that I know I'll need in spades. I'm very conscious that I need to trade, rather than bet.
 
Morning ET

Busy on own thread this morning - but will keep an eye every 30 -60 mins etc on your currency plans etc

Unfortunately only a fx trader - so have not got a clue on rest - even gold and silver etc - as never traded them in my life - stayed with what I specialize in

For now be careful of the GU news at 9 30 am and EU news at 10 15 am

Have a good day and anything you are looking at let us know and I will at least give you my thoughts

All the best

Regards

F
 
Thanks F
From the advice I'm getting I think I should specialise in currencies.
Just been down to vote and may not be trading much today. Not till later at least.
I tried to send you a private message, but you don't accept them!
 
Edinburgh Trader said:
Thanks F
From the advice I'm getting I think I should specialise in currencies.
Just been down to vote and may not be trading much today. Not till later at least.
I tried to send you a private message, but you don't accept them!
Click to expand...

Yes sorry

please free to leave messages on your thread - or make them on my lIve thread - no problem

Might be worth checking out my thread under trading systems etc on how I trade etc and then please let me know you thought or plans on any pairs and I can say my thoughts etc etc

Regards

F
 
F,
I started reading one of your posts last night. I got 50 pages into it and it seemed lots like it was mainly arguing!
I got that you have identified time windows at 9 minutes to and past the half hour and hour marks.
If I carry on with the thread does it go into details of how you trade?
Sorry, that isn't meant to be a facious question by the way!
 
Edinburgh Trader said:
F,
I started reading one of your posts last night. I got 50 pages into it and it seemed lots like it was mainly arguing!
I got that you have identified time windows at 9 minutes to and past the half hour and hour marks.
If I carry on with the thread does it go into details of how you trade?
Sorry, that isn't meant to be a facious question by the way!
Click to expand...

Yes - I got a lot of hassle when I first joined etc

Yes skip through all the questions and wind ups and get to my updates comments etc

I agree may be 40% of the content was trolls and people giving me stick - but 25% plus is pure "diamond" info (y)
 
OK, so a quick initial scan done and I'd be looking for opportunities to sell EURUSD.
No entry signal yet, but will consider selling only for the time being
 
Time to learn some discipline!
I would have usually just bought the Dow, but taking onboard the advice from here I am sitting on my hands!
 
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