You can stare at your screen, of course, we’ve all done that. But I now find that it’s even less exciting than watching a clock tick. When a trade is taken, whether automatic or manual, you need to let it “breath” and not baby-sit it and watch every pip up, pip down like some maniac – especially early in a trade. You need to let go. With this system, we have an audio alert when trades are taken, so no need for monitoring. Just come check whenever you hear the alert on the hour. Take note of the situation, new trades, balance, etc. and make any decisions about TP or SL (or do nothing), then go back to doing something else and let the trades mature.
One thing I personally like to do while trading is playing games – all sorts of games whether computer-based (I like simulations) or on-line or even a simple card game like Spider Solitaire, and I arrange my screen so that I can see the balance. Then every time I click the bottom pack of cards, my eyes take a glimpse at the balance and this way I get a feel of where things are headed, but without actually staring at the trades themselves.
I also do lots of things on the net or on my own computer and minimize my platforms and come see how things are doing once in a while.
And something I also do is have my full screen in front of me as I knit. I know this won’t appeal to all (knitting and trading, what a weird combination ?!?) but when you knit complex creations, you see, you need to constantly be counting in your head, so that the various patterns come out right, so you can’t really be doing something like watching a movie or even speaking with someone – but having your screen up and glancing once in a while is just perfect, believe me. PLUS in the end, you have a tangible piece of work, created by you, which you can give as a gift or keep for yourself.
Alright, enough about knitting – here’s a pic of my Spider Solitaire screen:
As you can see, things are looking good in the trending world. Yesterday’s three trades (gbpusd, gbpjpy and eurjpy) are currently + 82, +146, (-14 yesterday) and now +60. We also have gbpchf at +144, gbpaud at +122 and two baby trades recently taken at +7 and 0. For a total of just a bit over +600 pips.
I have always noticed that Wednesdays tend to be days where things move a lot - I like Wednesdays. Might be because of triple swap, but I doubt that now, with interest rates so low and especially so close, the whole carry trade thing has as much weight as it did a few years back when, for instance jpy was at 0.5% while gbp and nzd were over 5%. Anyway, might just be that it’s the middle of the week. Thursdays also tend to move a lot, but less than Wednesdays. Mondays and Tuesdays tend to be slow and Fridays, well I’ve seen extra slow and extra moving, so this one is less predictable – same goes for Sunday evenings.
Right, so tomorrow being Thursday, we’ll see how things have evolved from now. See you in 24 hours!
