Posts Tagged day trading
The question has been asked many times, is it possible to become a successful trader only trading part time. I'd like to think that it is as this is what I am doing.. I hold a 9-to-5 job (which I really enjoy) and am trading in the periods where I have time.. this includes any days off and in the evenings. However, there are people who say to me that in order to be in the consistent 5% that make money, you need to dedicate yourself to the craft of trading. I think trading takes a lot of time t
March 27, 2009
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Last night I sat and watched the Forex markets and there was a spike up showing strong support at around 135.65.. this also coincided with a trend line in the 4 hour chart (as below)... this was a cue for me to go long and I did at 137.02
I put a 100 pip stoploss and 100 pip target price and went to bed.
When I woke up, I saw that I was within 6 pips of being stopped out and that my trade had gone on to make a profit! Phew.. now that was lucky, usually I'll be stopped out first before
March 3, 2009
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My trading of late hasn't been particularly good.. I know I haven't updated the blog with these trades but in total, I had traded 6 times with a total loss of around 500 pips! Ouch!
Anyway, last night, I sat and spent a lot of time thinking... where did I go wrong? What happened to the success I was having?
I think the key to being successful is to be adaptable... the trading rules change when the markets change.. you need to have a trading strategy for trending markets and ranging marke
February 27, 2009
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