I am not in the competition. I am still too much of an erratic trader to do anything like that. Iam with the ITC people on FXStreet because I attended their recent online conference, which I found interesting.
Is that your daughter in the lovely photo? You both look so happy.
It is nice to chat to another woman trader, and one with a family and who also lives in what looks like an amazing place. Most of the people I chat to are young men, and they are usually a bit shocked when I tell them I am a 62 year old woman.
I see that you take your trading seriously, despite your commitments. I am still trying to develop competence and really thought I was making great progress with understanding carry trades and trying to get positioned to take advantage of them when today's rout set me back to 'novice' mindset again. I have guests staying for three days and just set wide stops to be sure of being safe and then popped in when I had a moment to find all my stops blown! Then I thought "Great. I see a bounce coming and can get my carry trades in the right direction at last!" So I placed more orders again with wide stops! And did not pop in to look at them for a couple of hours. OUCH! What a day!
I am still trying to settle into a style and a pair. I have been trading for about 18 months. At first I was jumping from pair to pair, but just lately I have been trying to trade Antipodean pairs. AUD/USD NZD/USD AUD/JPY. I know they are highly correlated, but I wanted to see how they compared - which was the leader, that might be useful to predict changes in the others etcetera. I did not at first realise how the carry swap mounts up if you hold trades for a week or two, but it began to be obvious to me that I only wanted to take trades if the carry was in the same broad direction as the trend, and that seemed to me to point to AUD/JPY. I was also interested in trying to get into a carry trade on USD/JPY.
Well I just thought I had it all figured out when today erupted the carry trades and I was distracted with guests and lost a bunch. But no margin call and I am still in the game. However I am frustrated to find that it was all an electronic error that set off the panic. I thought I was really 'in the groove' and would not be caught out by anything major.
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