After spending the weekend to draft out my trading plan, I start my Forex trading this month. I did that before, and now I am trying again with totally different style and strategies. The reason of picking up this trading vehicle again is to utilize the advantage of staying in Asia (since I have no interest to trade stocks in Singapore market). Yes, I will trade during Asian and European session , and continue in U.S session if I see opportunity. Thanks Vincent who encourages me to look into currency trading seriously (Though he was talking about currency futures). I am not talking about trading in demo account, I did my testing of strategies in demo account, and now I am going live. For the time being, the risk amount is half the size of my normal R.
I am focusing on two strategies where one of them requires me to hold my position over days with maximum a week, while the other is a day trading strategy which will last for hours. Both of these strategies do not require me to stare at the screen every minute. No dummy trading in FX, as I find it to be difficult in FX trading and I got stopped out frequently during my testing in demo account, well, maybe later I will try it again, since I am a BIG DUMMY Fan.
I am planning do a weekly review of my Forex trading process. Of course, my main focus is still Futures trading during U.S market hour. This is something that I really love to do.
uhm…am I now a ‘full-time’ trader? LOL
Let’s see how it works.