Account balance: $102,178.11.
Don't be fooled. I actually got off to a slow start. I traded a small bundle--going short--and it didn't work out so well. I lost $77 of my $100,000. I knew immediately exactly what I did wrong. I lost sight of my strategy.
I was stopped out of that trade overnight, while I was sleeping. That's right, I successfully adminstered a stop loss (something I often refer to as a parachute or safety net). I shouldn't be "thrilled" I was stopped out of a position for a loss, but considering the issues I had with FXCM's stop loss oders, I am moderately pleased.
I didn't put in another trade order until this evening. Has anyone else noticed the slowdown when the stocks market closes? I can't stand those turtle ticks ...
Not feeling comfortable with the 1-hour chart, I took a look at the 2-hour picture. (For those of you familiar with my rules, one item on my "no-no" list is not to go short-term until I've mastered the long-term.) I liked what I saw. The price had just crossed the upper PSAR dot, the Bollinger Bands were channeling upward, and the RSI just reached a new high value. I put in a big order this time--1,000,000 units--going long. The result was around a $2,000+ profit in a little over an hour.
Cha-ching!
Of course I felt cocky, and of course I broke my previously stated rule. I switched to the 5-min chart to see if I could eek out a couple hundred more bucks in profit. My gamble paid off, and I got my balance up to the number listed above. What can I say? Being bad sometimes results in something good.
I haven't decided yet if I'll put in a position overnight. The 1-hour chart and its older siblings aren't looking promising either way.
Speaking of siblings, my sister's birthday is tomorrow! Perhaps in her honor I'll make a killing tomorrow ...
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