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Day Trading Update

May 28, 2017

Two weeks. That’s how long I’ve been trading now. And I’ll tell you, it’s been kinda crazy. The Euro just took off (more so than the Dollar sinking, as the Dollar-British Pound exchange rate didn’t change as dramatically), in ways I’ve never seen before. Admittedly, I only have a few months at this, not years, but that doesn’t make it any less confusing for the first weeks to be unlike anything I’ve ever seen.

But I’m doing it. My balance is up over 20% for the two weeks. There are some hedged positions I’m still working out of, but I’m reasonably confident in my system and my ability to do so.

One annoying lesson to learn is to be even more conservative in the pending hedges I place when I go to bed. (Not to get to technical, but . . .) Twice I estimated a high resistance level, where if it reached that price I could be fairly confident it would keep going. I had a short position I was hoping would close overnight, but just in case the market went drastically the other way, I wanted to get an automatic hedge in and I could deal with it later.

Well, twice I was just barely too low with those pending hedge trades. Twice the price went up just high enough to kiss my pending order, then go back down in a hurry, leaving me with long positions I never wanted to be in. And I still haven’t worked myself entirely free. But I will give the market a wider berth to fluctuate in the future, that’s for sure.

So other than that, I’m making money and adding to my balance. It would be nice to have those hedge positions closed. When they’re open, I can’t quite keep from looking at the current market prices pretty much all day long, so it’s a bit more stressful. But I’m as optimistic as ever that this could be a great thing for me.

From → Day Trading

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