August 15, 2019

Demo day!

OK, we're going to break down the market this morning, which really jumped the shark yesterday with a 600 point drop on the DOW.  My guess?  DOW should come surging back this morning, driving USD/EUR down.  But what about the euro???  Gotta go look.

Right!  So after yesterday's HUGE surge, we see the dollar going DOWN this morning.

This should have a CORRESPONDING effect on USD/EUR.  Just looking at one index (USD), my GUT (which is amazing) says go LONG on EUR/USD.

Welly welly.  Would you look at that.

So far, it's like shooting fish in a barrel with an assault rifle.  A barrel!!

BUT: it looks like this all went down while I was sleeping!  Maybe around 12:00 am.  I knew the trend would reverse after yesterday's bloodbath, so how could I have capitalized?  Set an indicator alarm?  Stay up for the trade?  When is the best time to trade EUR/USD??

Maybe do your fav trick and set up the trade ahead of time BUT, looking at the candlesticks it would have been stopped out during the bounce.  Which is OK!

And um, isn't 1.11 pretty LOW historically for EUR/USD?  Why??

So today is day one (very exciting!) of the ForexBeginnersAcademy training, although I've been through the first part already.  I am SO NERVOUS.  I'm following the model of a $500.00 initial capitalization, but I can't stand the thought of it going down.  I am MARRIED to the idea of pinning my "real money" success on how the demo account does.  GULP.

OK, that's off my huge pectoral muscles.  Here we go.

Hey!  A tiny success!  Lost on two trades, just dorking around as the training suggests - get used to opening and closing trades.  Well, I STILL didn't want to lose any money!  Darn it!  heh.  I did anyway.  Both EUR/USD and GBP/USD are super volatile right now - I don't think I would get into a trade at the moment without some serious consideration.  BUT!  USD/CHF had some rising soldiers so I put in a trade with a tight stop and a pretty tiny take profit.  The good news?  I was right!  And if I had NOT put in a take profit, but instead trailed my stop, I could have made some BANK.

Check out that MACD on the bottom just telling you what's happening before it does.  Yowza!  Here's the list of trades - only lost money on ONE trade!!!

We're learning, right?  Wheeee!

OK, so in the learning category we also have this:

I'm putting these in the "clicking is fun" category, and moving on!  Still at our target (almost), so we'll continue on with the current balance, and OMG Bollinger Bands.  Contract = consolidation, expand = MOVE!  The lower the price is to the bottom band, the better time it is to go LONG, whereas the inverse (converse?  concave?) is true for the upper band.  

Another note on the bands: if the price is near the TOP band, it's considered "expensive," while at the LOWER band it's CHEAP.

Band!

In other words, how to spot a BREAKOUT, right under your veritable NOSE.

OK, on to the the second module of the training!