First Week of Trading
ByWell, I survived it! I really enjoyed it too. I only plan on trading four days a week, so I am not going to be trading on Fridays; therefore, I will be reporting on this week today.
This has been quite a week. The market hasn’t been overly active during my trading window, so it was a good time to get my feet wet. I enjoyed the process of watching the activity and trying to observe the best trading opportunities. I made four trades, two positive ones, one with a net of zero, and one very small negative. This week has been all about getting a feel for things and understanding that there will be good days and bad days in the market, and that negatives are part of the process. I feel really good about what I accomplished this week. I really appreciate all that Sid was teaching us about patience and discipline.
There are moments when I just wanted to jump in and say what the heck, let’s see what happens, but I stayed cool and disciplined. If I can continue in this fashion, I have every confidence that I will do very well in the long run.
Have a great weekend!
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I’ve kept up with your Blog for the past five weeks with great interest and I’m glad to see you’re continuing it into demo trading and hopefully as you progress through your targets and into live trading and compounding, even if its only a monthly account in the end. I found Sams blog very encouraging when deciding on the course, but I feel that you have given a much clearer picture of what it entails.
I myself have just finished my first week of the course which I found very interesting, just as you described. In the first week it is like we are laying the foundations for the rest of the course as it steadily builds.
I had a few ‘challenges’, ‘if you will’, with my computer not able to login to the Oanda platform, but there is instant chat communication on their troubleshooting pages,(and I mean instant) and they soon put me right.
I am very glad that Sids course is friendly to those like myself who although can get around software, often find learning these things very frustrating. I even hate swapping my mobile phone because I hate trying to work out all over again which buttons to press to do what!
Anyway if anyone other than Jody is reading these comments, my advice is give it a go. I have just listened to my first weekend audio and Sid is still reminding everyone they can throw in the towel and get their money back in the next week. Quite amazing!
One thing I like to ask you Jody, is after downloading the world clock, I guess you are 8 hours behind the UK, so what sort of hours are you trading? What time do you have your Breakfast and is it before or after trading? Trading times is one thing I am interested in hearing about.
Anyway good luck with the demo trading.
Simon
Hi Simon,
Thank you for your comments. I’m glad that you are finding this blog helpful. It is true, that Sid is very open and honest with what he says and does. That is one of the most important factors that impressed me enough to take the course in the first place.
I know exactly what you mean about learning new stuff. I had a good chuckle about the mobile phone because I go through the same thing. My kids (adults now) are always trying to get me to upgrade to the newest and fanciest gear and I just can’t be bothered. I get comfortable with something and if it does what I want, why do I have to keep changing? Somebody please tell me. I think it’s all about keeping the money flowing into the fat cats pockets. Oh well…I digress…sorry for the rant
Yes, I am 8 hours behind the UK, but I have the luxury of managing my own schedule most of the time, and I’m a bit of a night owl, so I can take advantage of the early or late hours of the trading windows from the west coast of the US.
So far I’ve been trading in the NY market, which is quite late into the night here. My schedule lately has been to work into the night and get a few hours of sleep to get up and trade, then back to bed for a couple more hours. Sometimes I work in the afternoons, so when that is the case, I’m going to try the London open time frame. I understand that there is generally more movement during that time, so I am eager to try it.
When I read the BBC blog, I see that most members do indeed trade the London open time frame. I suspect that that is the case because there is more movement. However, so far, I have been happy doing what I’m doing. I guess I’m not a typical BBC member. I hope this is helpful. Good luck on your course and the journey beyond. I wish you much success
Jody