I am back.
Happy to be here. It has been almost a year since I first started learning about the markets, and I have been studying, not trading, ever since. Thankfully I have built up a nice income from my real profession (programmer). and I am still free-lancing so I have lots of time to do as I please.
I have good news to report, by not trading just saving consistently, I have increased my account to $40,000.00.
So recently I got bored, and decided to put $100.00 back in my FXCM account. I had left $2.50 in there to keep it open (thanks FXCM). So in my first week, I lost about $10.00 and my account was down to $92.50. I was doing all the typical newb stuff, clicking buy when I meant to click sell, setting entry orders that cancelled out each other, not setting a stop and getting called away, etc.
This week though, I am more comfortable with the FXCM platform, I understand how to set stops/limits and entry orders. I have been scalping 5-minute charts with just some simple Bollinger Bands, setting my stops fairly wide at first and then chasing the profits with them. Everything is manual, no trailing stops, just keeping my eye on the chart and deciding when to move. I am trying to discipline myself to only trade Fiber, and only when both London and New York are in session.
My trading goals have changed completely. I am not interested in the money, just in the trading. It is becoming a video game and I am having fun. The knot in my stomach has loosened considerably, now I just want to win for the sake of winning, rather than the money I could make. Trying to make 1% per day, so far this week I am on track.