An interesting read on new AU pm
https://www.caixinglobal.com/2018-0...W5F3OLwgkKDeb+fTB+xFQ==&cxg=web&Sfrom=twitter
https://www.caixinglobal.com/2018-0...W5F3OLwgkKDeb+fTB+xFQ==&cxg=web&Sfrom=twitter
P
postman
Hi FXX, not sure if this is helpful or not but if or when you decide to trade full time, you need the support of your wife. You need to discuss topics like : how can she best support you, your hours of work, agree to a budget, a backup plan if things go wrong etc. I have done this and believe me it helps a lot! I am fortunate my wife is still working full time which has allowed me to fully develop my trade style over the last few years and test it in many market conditions. It has also allowed me to really know myself and how I handle/copy with trading. I would recommend having no debt (if possible) as this is one less thing to worry about. Keeping fit and healthy is important as it should help reduce stress. Anyway just me with some thoughts you can take or leave 
Ps: I am currently teaching my wife to trade so we can work together in the near future.
Ps: I am currently teaching my wife to trade so we can work together in the near future.
US Q2 GDP (second reading) +4.2% vs +4.0% expected
Last night Ausi felt the pinch with a major bank raising rates to customers. The likelihood that other banks will follow suit is high and this will weigh in on the RBA rate decision policy which has already been extended from 2019 to 2020.
While this is the second reading which doesn't get as much attention but the numbers are good and pairing this data point with Ausi sentiment hopefully will offer up some profit. There isn't much else on today so this might be the only opportunity should it pan out.
Short audusd@ 0.72910
Last night Ausi felt the pinch with a major bank raising rates to customers. The likelihood that other banks will follow suit is high and this will weigh in on the RBA rate decision policy which has already been extended from 2019 to 2020.
While this is the second reading which doesn't get as much attention but the numbers are good and pairing this data point with Ausi sentiment hopefully will offer up some profit. There isn't much else on today so this might be the only opportunity should it pan out.
Short audusd@ 0.72910
He's a prissy little thing, dont argue with him or he'll put you on ignore.
go back to the hole you crawled out of
This is my personal journal - feel free to start your own threads
Hi FXX, not sure if this is helpful or not but if or when you decide to trade full time, you need the support of your wife. You need to discuss topics like : how can she best support you, your hours of work, agree to a budget, a backup plan if things go wrong etc. I have done this and believe me it helps a lot! I am fortunate my wife is still working full time which has allowed me to fully develop my trade style over the last few years and test it in many market conditions. It has also allowed me to really know myself and how I handle/copy with trading. I would recommend having no debt (if possible) as this is one less thing to worry about. Keeping fit and healthy is important as it should help reduce stress. Anyway just me with some thoughts you can take or leave
Ps: I am currently teaching my wife to trade so we can work together in the near future.
yeah that's a concern - i have a fairly fresh mortgage on the go. will have to see how things pan out but i do see that as a blocker for going full time. My other half doesn't know about this yet. You and the miss not going to kill each other spending all that time together
?Price has moved back to 0.73. I have several rules that prevent these from getting my stop. It depends on the tier of data being released and the market reaction. If it is a tier 1 data i will close a trade within 20 mins if price hasn't given me sufficient room for a break even stop then it will be closed. If it is a tier 2 data like US GDP was then i will give it up to an hour with the same parameters.
a missed opportunity today - been so busy with work it slipped right past
https://www.forexlive.com/news/!/ba...ership-unlike-with-any-other-country-20180829
https://www.forexlive.com/news/!/ba...ership-unlike-with-any-other-country-20180829
tokyojoe
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He's a bit of a doofus mate, when I first started looking at this forum I thought he was alright, but then I suspected he's one of these dudes with very little going on in his life, he's good at belittling half wits though, I'll give him that much !
He'll be on this forum long after you or I are gone.
He'll lay low for a while, then razzle dazzle with his crystal ball, but I suspect he's in his element if he thinks he can make a clown of a lesser mortal with just about enough neurons to switch on a computer.
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I have seen him trawling my thread from time to time. I suspect he is waiting for me to post failure so that he can come finish me off with the usual tosh. As for these forums I am not very far from abandoning them for good. I started this journal as a way to force myself to log my progress and exposing myself so that it keeps me in check while I internalise my process. It's a tool in my journey and when the time comes, I will be looking to drop it and reinvest my time elsewhere. I have to say though that at least here in the UK we have some interesting folk to exchange dialogue online. Fx factory is one big d!ck swinging contest. I have never read so much garbage about trading elsewhere. Look we have our own clowns here but those people at fx factory are on another level. It would be nice to find a small group of good traders who use similar strategies to myself to exchange ideas with. Teamwork is always better than an individual but I suspect finding such a group is difficult. I have accepted that this will largely be a solo endeavour. I am looking forward to supplementing my train ticket with an upgrade to first class courtesy of trading profits. Not sure how I am going to explain that yet to the other half because she often uses it when I work from home. She thinks this is all gambling and doesn't want me to have any part of it. It doesn't help that she spent several years in in the late 90s working in casinos around the world. I guess I'll cross that road when I get to it. For now my focus is still improving my process and growing this account. I read one of your posts (I can't remember when) where you mentioned that you trade and also do consulting work. Are you doing position trades or intraday?
tokyojoe
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I don't think he's that calculating mate, just a bit of a sad case in my opinion, he gives it large, then scutters off when called out by someone he can't handle !
The main reason I've come back to this forum is to speak to the people who don't try to make out they're something they are not. I have been 100% honest on here, what's the fkg point of coming on here to be a walter mitty ???
Agreed, this forum is the best out there, but I am going to call a spade a spade, bulls1t is bulls1t, the old guard don't like me because it upsets their little routine, the newer ones are on the fence, suits me just fine, you kinda get a feel for what's what & I've always been a bit of a left fielder, it's what's got me where I am today.
Your other half is right, it is gambling, glorified gambling at best, a mate of mine won a total of £440'ish large last year playing blackjack, he also won a brand new mini cooper S for his wife worth £30 large, who says gambling doesn't pay ! .....but his turn over per hand is an average persons weekly wage. I've had to take his phone off him before now to stop him transferring money to the casino when he was getting a proper spanking one night !
As for me, I'm not a consultant I'm a sub contractor, I used to employ people, earned a lot of money, paid off my mortgage & all that ying yang....& discovered money is just one currency !
Now just totally freelance. I only work a few months of the year, my mates take the p1ss I'm kinda semi retired, but still only in my forties.
I was intraday, but stepped off for a break, I was turning over way too much money per day on "trading" & getting too comfortable with high loss, high win, £400 here £200 there etc on a position that may only last 60 seconds to a few minutes......insane
I keep looking to get back in, but on the days I set up there does't seem to be much bang for your buck, the leverage change means I need the good old days of 600 + points per day (total swing on the dax) to make it worth while, plus I only ever opened positions on a fast pace day.
So I wait for the cyclical nature of the market to come back to conditions that suits me.
Good luck with it fella, I know you know, but don't expect this to be a primary source of income. I certainly don't & never want it to, it's actually quite a boring way to make money.
Unless you are someone like Postie or ????? they make dolla in da bank man..all day every day !!!
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Sonicscooter
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Have you thought about going down a vanilla option route?
Trade on
Cad GDP M/M came in at 0.0% and previously expected 0.1 and previous was 0.5.
Cad Q2 GDP annualized 2.9% vs 3.1% q/q expected
Keeping in tune with the stronger sentiment on Sterling i have opened a long GBPCAD. Price is currently sitting at a breakout point so if this does move it should be worth a few pips.
Long @ 1.68671
Cad GDP M/M came in at 0.0% and previously expected 0.1 and previous was 0.5.
Cad Q2 GDP annualized 2.9% vs 3.1% q/q expected
Keeping in tune with the stronger sentiment on Sterling i have opened a long GBPCAD. Price is currently sitting at a breakout point so if this does move it should be worth a few pips.
Long @ 1.68671