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I'm not sure exactly how it will run yet, but I'm thinking it will be about exposure and attempting to trade into and out of 'value areas' over a longer time-frame.. well, that's the rough plan for now.
E/u long that was at b/e survived and got flat at 1.1193 ish on the 17th and haven't been in a Euro position since.
Tried to ride Aud short during the week but it didn't break 7540 so I brought long, still holding the shorts and that leaves me averaged short at 75560.. so considering sentiment is slightly bullish I'll be buying dips next week.
I started with a few different pairs but I am just trading aud/usd now as I am back at work.
Account is 1k at the moment. I was going to start with 3k but I am going to see how I go for a about three months and then maybe add some after that.
Currently STILL trying still ride Aud long and had a few good buys but still can't get rid of my shorts even though I had two good chances last week, and yesterday!! frustrating.
I was watching it at the lows of yesterday and brought a bit, but obviously not enough because the news sent it north and I still have shorts hanging... I need to try and 'get flat' (correctly) prior to big news in the future because even though I knew of the long-bias I was betting too heavy on news sending it south (silly).
So apparently this is more like swing trading than position trading. Or maybe it was a position trade that is turning into a swing trade.. ??
Still holding Aud short and sentiment seems to be turning slightly in my favor so hopefully that continues during the week - so I'm adding shorts on any price rallies to get my average price higher and hopefully I can get out of this alive.
I have been trying out cTrader platform as they have a mobile app that is quite easy to use. Oandas mobile app has just been awesome and so easy to use that I have not really wanted to move.. but cTrader gives a better spread of .5 on Aud whereas Oanada varies a lot.. but I have never had an orders missed or jumped on Oanda, whereas that might happen on cTrader as from what I understand it is using different liquidity providers..no issues in the week other than some slippage on a stop, which went from a stop of +2 to -9! during a big move (Oanda never seems to slip, they just take out stops by widening the spread, lol).
So just going to see how much that continues to happen in the next few weeks, thinking maybe I will switch at some point or just run two side by side.
