Skip to main content

Working the Currency Markets Again

I am working the currency markets again on a practice account at forex.com. Today, I am up $96. I took a really big gamble on a short. I shouldn't do that. I shorted and the price kept going up on the GBP/USD. I was sweating, thinking that I had made a bad move. But the analysis pointed to a decrease in price, so I bought as the price climbed. All of a sudden, the price plummeted and triggered my limit order. Oh geez! That was a close one. I got lucky, I think.

I decided to ride on the way back up. Now, I'm up to $104. Not much, as I am playing it safe. Still, any profit is a good profit.

Update: 11:57
I am up to $137.26 on a USD/JPY trade. I could have made more; but, again, even a small profit is a good profit. I'd rather make a small, sure profit than a risky big profit. As the prices went up, I raised the limit a couple points for extra profit. As for losses, smaller losses are better. I'll put in a stop if I'm going to bed. When I am awake, I don't put them in because I have a general idea where the prices are going. I don't know exactly, but I know the general direction. I don't want to trip stop losses too early. Last week, I had a stop loss that triggered on a sudden low price. I lost $60 on that. So, I've made up my losses plus a little more.

Comments

Popular posts from this blog

Before Getting Out of the Gate

Tonight, I was working on a new blog project. Google and Blogger have been good platforms for me in the past. I was able to get the domain pointed and was working on the layout and template. Suddenly, the website was blocked. I had searched for ways to publish that were not subject to censorhsip. I wound up on the Hive blockchain. It's great for censorship resistance, but it's not without its problems. In any case, I was thinking that maybe I was being too paranoid. Now, before getting out of the gate, I have a blog censored. I'm trying to think of what I could have posted, reposted, or even been associated with that could have caused the blog to be blocked. I can't think of anything. If this doesn't pan out after review, I may need to look for an alternative hosting option. I was already looking at Publii as an option. It only requieres simple FTP updates. I prefer not to use Wordpress as experience has taught me that you an customize a theme and add plugins ...

2024 NaPodPoMo Ep 5 - Let’s Be Real About CRO

In this episode of National Podcast Post Month, I'm taking a closer look at the recent announcements from Crypto.com and their potential impact on the price of CRO. While there's been a lot of excitement about the new developments, I'm not convinced that they will translate into a significant price increase. I'll be discussing the following topics: The recent AMA with Kris Marszalek The launch of the ZK EVM chain The popularity of the Crypto.com debit card The importance of market volatility The role of FOMO in driving up prices I'll also be sharing my thoughts on why I don't think the price of CRO will jump to a dollar anytime soon. If you're interested in learning more about the future of CRO, then be sure to watch this video!