First post. I've decided to put up a blog just so I could chronicle my travails with foreign exchange. I've started trading two months ago, and after losing a lot of money due to my noobness, I've decided to create a place of release. Not because I'm frustrated that I'm losing money, but because I don't have a kindred who shares the same fascination in forex. I promise to be as honest as possible.
Let's start with the basics, currently I've lost $1,500. A shit load of money here in the Philippines. I've been looking for the trading that suits for me. Scalping is freakishly scary, while long term positions bore me to death. What seems to be working for me, so it seems, is the medium term trade. It's really tedious tho. Researching, speculating, reading other people's blogs, but some how it does the job for me. I've earned 120$ when I traded on medium leverage and on very low investment ($0.40 a pip), but I lost it all on my stupid flirting with scalping. Fucking scalp, $5 dollar a pip on the EUR USD madness last night made me shit bricks, I lost 400$ in just 5 minutes. All the while I was telling myself "GO LONG MOTHERFUCKER" but still I kept on consoling myself that "no, keep short, Greece will fall. Greece will fall."
It's kindof fucked up when one wishes for a country's downfall just so you could earn a few bucks. I thought that to myself after losing 400$. This forex thing is kinda inhuman, devoid of human suffering. The Euro went up when the people are protesting. Gold skyrocketed when Libya was in trouble. The Yen rallied amidst their earthquake.
This is some stone cold shit, money is. And honestly - and sadly - if I want to do well in life, I just have to accept the ugliness (for now, while money is the thing that moves the world).
I'm still working for a software company by day, and I study my graduate studies by night, by late night I have a freelance gig. I tell myself that if I could achieve $10k, I'll be able to stop working and focus on my studies and freelance. $20k and I'll be able to start a startup. So this will be my forex diary. I'll keep you updated.
Ciao.
Current earnings: 0$
