Monday, June 13, 2011

Trading update and FX: Trial by fire.

Nothing much to post today as I was at school earlier and was only able to trade by 10:30am. PX/LC/LCB has already drop in within the levels of my expectations(+/-10%) courtesy of the bearish divergence on the daily chart so the issues could rebound anytime, most likely when DOW/GOLD rebounds.

I tried to scalp earlier today despite of the crappy market this noon. Got my hands some papercut trying to trade XAU-USD and USD-CHF with my trend/volatility system despite of both being range bound. So I lost the $400 that I gain in EUR-USD the last time which I am trying to recuperate right now on EUR-USD again and I kinda recovered half of what's lost already.

I think it's alot better to trade EUR-USD than GOLD and CHF as I always have terrible fills in both GOLD and CHF.

Somehow, it feels like it's alot easier to trade on the short side?

Candlesticks doesn't seem to work on the 10-sec chart...

Maybe it's just my imagination.

Next time I'll make another demo account with smaller capital($1000) as I don't know if I can handle the $5000 account with maxed leverage on actual trading. Right now, I am trading the whole account in 1 position only with maxed leverage with a very tight stop.


*Ninja edit: My take profits point didn't get hit just now @1.4350 in my short position (EUR-USD).
PX gap filled pala.
Out of my first class. Ouch PX!