Jet's Personal Trading Journal - page 4
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These are the currency pairs I trade on Oanda...
As can be seen the spreads are just crazy, way too crazy (the numbers to the very right in the pic attached). This means that trades have hit the snooze button and don't want any of these recent moves that have been taking place. Only central banks seem to be left in the market. I am going to follow the big boys' lead here and do likewise.
Until the spreads calm down a bit, I am going to stop trading while I am ahead and concentrate on developing my system further.
Woo, check out FXCM's no dealing desk spreads... Crazy.
I'm not surprised with these spreads in light of the current economic turmoil. And spreads are not what is going to kill you, although you are trading exotics which in itself is an invitation to pain. The bouncing quote is what kills me, I saw the quote bounce around 40 pips on the USDCHF. I manually clicked on an entry and it filled me like 10 pips higher, and then the next few seconds, I see the quote bounce around in 30-40 pips (you couldn't fill in at the right price even if you tried because of requote), so I knew I had gotten screwed. Let's just say I was not a happy camper yesterday. And I still kick myself for playing in markets in these nutty times.
I trade exotics for diversification reasons. I have tried to pick the most liquid pairs. Note that all pairs I trade are crosses of the 8 majors.
40 pip swings don't affect me as much because my targets and stops are at least twice as big if not three times that due to recent volatility.
Spread is a big problem for me. All things being equal I must have the lowest spread possible, anything less is a big waste of money and increases the odds against me.
Stay put. Go out and pimp some babes until all this blows over. Than dump the chicks and get back to rollin the dough. Hehehehehe.
I'm not surprised with these spreads in light of the current economic turmoil. And spreads are not what is going to kill you, although you are trading exotics which in itself is an invitation to pain. The bouncing quote is what kills me, I saw the quote bounce around 40 pips on the USDCHF. I manually clicked on an entry and it filled me like 10 pips higher, and then the next few seconds, I see the quote bounce around in 30-40 pips (you couldn't fill in at the right price even if you tried because of requote), so I knew I had gotten screwed. Let's just say I was not a happy camper yesterday. And I still kick myself for playing in markets in these nutty times.
Woooo, did you see that? Australia cut interest rates by 1% !!! That's crazy. Damn.
I don't understand one thing - why the athors of the trading journals don't trade themselves and earn big money...why they learn to trade others?...
I don't understand one thing - why the athors of the trading journals don't trade themselves and earn big money...why they learn to trade others?...
What's not to understand. Jet clearly stated why he started this journal in his first post.
I am trading with live money. The results I post are of live trades. I am not teaching others anything. I simply want to keep a journal for more than a few weeks for once!
Why are some people here so negative and rate my journal?
I don't understand one thing - why the athors of the trading journals don't trade themselves and earn big money...why they learn to trade others?...
I am trading with live money. The results I post are of live trades. I am not teaching others anything. I simply want to keep a journal for more than a few weeks for once! Why are some people here so negative and rate my journal?
Jet,
Don't sweat that imbicile... he's new here, and even worse, ignorant. It's always nice to observe someone in the process - keep doing your thing.
MM
I'm gonna convert my dollar-denominated assets to cigarettes, weed and alcohol, because those are going to be the only hot commodities with any demand curve.
That's right, hedges against falling... uh... everything.
Oh yeah, and cyanide so you can euthanise yourself afterward