Blog Archives » September 2006

I'm Back

OK, been a damn long time since I last posted. I've been busy looking at other things (CFD's, commodities and sports arbitrage) and doing some reading.

After all that I've made the plunge (I made a SUPER SMALL plunge) and have opened a live FOREX trading account. I say it was a super small plunge because I think I might have set a record for the smallest FOREX investment ever.. I deposited USD$91!!!! (but they took $2.93 in processing fees) I'm well aware that it'll take me a couple of centuries to make my fortune with that large an investment... why $91? it's how much I had sitting in my Paypal account, I'm just going to try it out with live money and see how it goes, when I can prove to myself that my strategies are making me money and the broker isn't scamming me, then I'll work up the courage to shift some proper amounts of money over.

When I was looking for a broker to open a live forex trading account with I did a little bit of research and I found a website called Forex Bastards, they have some great reviews of the different FOREX brokers, I read some of the top rated ones there. Going with what I had already read previously about Oanda and not being concerned with the spreads widening during news I signed up with them. It was a little scary how much personal information they ask you for (an identity theifs wet dream), though I guess they need to do it in order to prevent money laundering etc.

I haven't yet opened any trades, I'm waiting for my setup to come along and then I'll open a trade.

I mentioned that I've been doing some reading as well. It's been in the areas of Statistical Arbitrage and also I've been looking at a method of evolving a computer program called Genetic Programming... my ultimate aim being to evolve a financial trading expert! (it's a long term aim)

permalink - 13th September 2006

Timing is Everything

OK, well maybe not EVERYTHING (you still need to make sure it's going the right way), though it is extremely important when you are highly leveraged.

Since I've started working with real money I've lost money :( Luckily it hasn't been a lot (I'm currently down by 1.44%). The main reason for my losses has been through bad timing and not having the balls to stick by my position when it is going the wrong way. In all cases where I've lost money I was right in my prediction, just out on the timing (I still have one small position I opened 8 days ago which is just starting to come good).

permalink - 27th September 2006

Links

» Forex Blog

» Forex Project

» Oanda

» FOREX @ Investopedia

» Baby Pips

» Trading Software

» Forex Bastards

» Ernest Chan