Moved stop to breakeven less 5 pips. No sense in letting a winner turn into a loser, but I don't want to trail too closely and kill the trade. If it reverses by 50 pips, I want to get out and to keep a little something for my trouble.
We're only a few minutes ahead of London close, when a great deal of liquidity will be drying up ahead of the US holiday weekend. (I'll enjoy a day off, but the violent cartelization of labor markets is hardly anything I consider worth celebrating!) I'm totally willing to hold this position over the weekend... sometimes it works out well, and sometimes it doesn't. Britain and Europe will be working Monday, so I will be watchng to move stops and manage this open position if it's still alive by then, but I won't likely initiate any new positions.
Current closed equity: $99.26
Current position: Short 3350 EUR/USD from 1.4711
Current exposure: +5 pips locked in. +$1.67 or +1.68%
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This blog will chronicle my attempt to trade a very small account ($111.00) using the most aggressive position-sizing possible in order to grow equity as quickly as possible. I expect the ups and downs to be gut-wrenching. I DO NOT RECOMMEND THAT ANYONE TRADE THIS WAY!!
Coaster Safety Spiel:
Keep your pips inside the vehicle at all times... blah, blah, blah...
I will be mostly trading the majors against the US Dollar, but I reserve the right to trade any pair I damn well please. (Though I doubt I'll be doing much trading of the Mexican Peso against the Malaysian Ringgit.)
My system for trade signals will not be much of a system at all... mostly discretionary calls based on the hourly highs and lows. This is by no means to be used as some sort of signal service. I'll post updates as I take trading actions, but by the time I post something, the opportunity to act on it will likely have passed.
I also have no desire to make this blog some kind of major time-waster for me. I will manage any comments or communication in the way that requires the least time invested on my part... which means I'll mostly be ignoring them. Please don't take it personally. With all that said, here we go...
I will be mostly trading the majors against the US Dollar, but I reserve the right to trade any pair I damn well please. (Though I doubt I'll be doing much trading of the Mexican Peso against the Malaysian Ringgit.)
My system for trade signals will not be much of a system at all... mostly discretionary calls based on the hourly highs and lows. This is by no means to be used as some sort of signal service. I'll post updates as I take trading actions, but by the time I post something, the opportunity to act on it will likely have passed.
I also have no desire to make this blog some kind of major time-waster for me. I will manage any comments or communication in the way that requires the least time invested on my part... which means I'll mostly be ignoring them. Please don't take it personally. With all that said, here we go...
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