Monday, August 01, 2005

Currency Exchange Waiting Game

I've been waiting for a swing trade to happen today. I put a limit order to sell Yen at 112.24 after buying at different prices from .12 to .23 earlier. It's slowly getting up to the sell price. It just drives you nuts to sit and watch. The order will go through if I shut down and go to bed, but I want to see it happen. So far, I've made $239 in the practice account using the $2000 they give you. I'll put in a stop before I go to bed as added insurance. Just need to be careful not to put the stop too tight. I'll go 2 pips below the low to prevent the stop loss from being triggered by trading noise.

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UPDATE
The Yen went the way I thought it would and yielded $36.53. I've opened a new position on the Euro this morning. We'll see how that goes.
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