Tuesday, December 11, 2012

Update, and a career change

So, been a while since I've posted. I've had a lot going on recently (hunting mostly), and did a lot of thinking.

Hunting season turned out to be a dud this year, only came home with 1 deer out of all the tags we had. Hopefully next year will be different since we'll be able to hunt with the new muzzle loader we bought in our favorite hunting season, September.

On to the more important topic..... trading. I've decided to no longer trade. It's been a lot of wheel spinning with profits and losses equating to an overall loss over the years. I feel like it's time to move on (at least for now), to more enjoyable things. After doing some thinking I realized that I like to code software. After dipping my toes into a few things (mainly C++ and PhP), I decided to become a web developer. The biggest thing that influenced that choice over say a software developer (programs/games) is my mom has started a new business and needed someone to develop the web site for it.

I may return to trading some day. Likely as a hobby than a career though. I plan on keeping this blog around for the few times I might trade here and there. Hope you all do well in your trading, and thank you for reading.

Thursday, October 18, 2012

Trades from 10-16-12 part 1

Here are the trades from the 16th that I've closed. I am still currently in CHF/JPY on a long so I'll post the final result once I exit that trade.

Forex: 4 trades, 1 loss and 3 gains for a total of +0.88%

Friday, October 12, 2012

One last shot

So after much thought I've decided to continue trading. The plan is to paper-trade from now until I get back from hunting (though there is a chance I might go to real trading sooner). I will be trading hourly charts, with my father. We did some back testing and it seems I do much better when we're tag-teaming it. If we don't have a profit by the time the new year begins I will be choosing a different career path. If we're at a profit than I will re-evaluate my career plans (trading part-time or continue with full time).

Tuesday, October 9, 2012

Monday, October 8, 2012

Friday, October 5, 2012

Trades for 10-5-12

Forex: 4 trades, 2 losses, 1 flat, and 1 gain for a total of -20.40%

Thursday, October 4, 2012

Wednesday, October 3, 2012

Monday, October 1, 2012

Friday, September 28, 2012

Wednesday, September 26, 2012

Trades for 9-26-12

As you can see in the screenshot I used the 30min chart to make my entry on the 1st trade this morning. For my 2nd trade I decided to trade it based on a break of support. Lastly, if I had held on a little longer in my 3rd trade I would have made back all the money I lost in the 2nd one.

Forex: 3 trades, 1 loss and 2 gains for a total of +1.19%

Tuesday, September 25, 2012

Monday, September 24, 2012

News schedule for this week

Nothing really big is scheduled for this week (except for bond auction), but keep your eye out for these items for some intraday moves (all times are EST):

Tuesday Sep 25th:

  • SNB Chairman Jordan Speaks - Tentative
  • Canada Retail Sales m/m - 8:30am
  • ECB President Draghi Speaks - 9:00am
  • US consumer confidence - 10:00am

  • Wednesday Sep 26th:
  • US new home sales - 10:00am
  • NBNZ Business Confidence - 9:00pm

  • Thursday Sep 27th:
  • UK Current Account - 4:30am
  • UK Final GDP q/q - 4:30am
  • Italian 10-y Bond Auction - Tentative
  • US Durable Goods Orders m/m - 8:30am
  • US Unemployment Claims - 8:30am
  • US Final GDP q/q - 8:30am
  • US Pending Home Sales m/m - 10:00am
  • Japan Unemployment Rate 7:30pm

  • Friday Sep 28th:
  • French Consumer Spending m/m - 2:45am
  • Canada GDP m/m - 8:30am
  • US Revised UoM Consumer Sentiment - 9:55am
  • Bollinger Bands

    Bollinger Bands, invented by a guy name John Bollinger, are one of the most popular tools available to traders (both long and short term). Their design is intended to show a relative definition of high and low, via upper and lower bands. The middle band (though not always shown) is a moving average which shows the direction of the current trend.

    The working parts
    The distance between the upper and lower bands show price volatility. The farther apart they are the more volatile price action is, and the opposite is true when they are close to each other. Most charting software defaults to plotting Bollinger bands with a 20 period moving average, and a 2 standard deviation. However you can adjust this setting to fit your trading style/preference.

    The math
    Though they can use other forms of moving averages (MA) the most common is the simple moving average. The first step is calculating the simple moving average:

    The next is to calculate for the upper band:

    Lastly we calculate for the lower band:

    Ways of trading
    There are many ways of interpreting Bollinger Bands...
    1.) Some traders will buy when price is oversold (touching the lower band), and exit when price touches the middle band. The opposite is true for shorts (short when price touches the upper band, exit when it touches the middle band).

    2.) Others will wait until price actually crosses above the upper band to long, and to short they will wait until price crosses below the lower band.

    Just like most indicators, Bollinger Bands are often used in conjunction with other indicators. Usually the other indicator(s) will be a chart pattern, trendline, or other form of non-oscillating indicator(s).

    They are also not just for any one trading instrument, they can be used to trade may things from currencies to stocks to bonds.

    My personal take
    My personal take on them would be to use the first mentioned way for trading during consolidation (there is no trend, price is in a range). I would use the second way for breakouts from ranges with a trading stop.

    Trades for 9-24-12

    Forex: 3 trades, 2 losses and 1 gain for a total of -4.40%

    Thursday, September 20, 2012

    Wednesday, September 19, 2012

    Tuesday, September 18, 2012

    Monday, September 17, 2012

    Saturday, September 15, 2012

    Buck hunting

    It took my dad a couple shots but we got him! Now it's just a matter of time before we go back out for my elk hunt in October.

    Tuesday, September 11, 2012

    Trades for 9-11-12

    I should have held my 2nd trade longer but I'm a bit "gun shy" after the beating I took this past month.

    2 trades, 1 loss and 1 gain for a total of +5.09%

    Thursday, September 6, 2012

    Friday, August 31, 2012

    Thursday, August 30, 2012

    Wednesday, August 29, 2012

    Friday, August 24, 2012

    Wednesday, August 22, 2012

    Scouting for elk

    This past weekend my Dad and I went out scouting for elk. Came up on a heard of over 150! It was a long hike for sure, but well worth it.

    Even managed to get a video of the herd running away after they spotted us.