Thursday, December 15, 2005

Jack of all trades, master of none

My current job is not related to my degree. How unrelated? It's like graduating AB History, and taking up a job in hard sciences - hard sciences as in biology, chemistry, oceanography, statistics, among others. But, who cares? There's Google, and there's a lot of material on the web. Metamorphosis could be as easy as changing a shirt, the only difference is, it takes a lot of effort and discipline in the process. Bakit ito ang blog ko? It's because I did'nt have a single course in Economics or Accounting, yet one of my hobby is Forex know buying and selling currencies. Why? alang magawa eh.hehehe.

I have been into Forex Trading as a hobby for a quite a while now, and it was only for the past three days, shorting AUD & US and long Yen, that I was able to obtain a combined pips of over a thousand using a harakiri leverage of 50:1; trading the full amount, and scaling. I know its crazy, please don't flame me, its just dinner money, hehehe. It increased my NAV 700% in three days. NAV is net asset value, or the amount of money you have in your trading account. My account is real money, although I started with virtual money or paper trading several months ago. I decided to trade real money to really "feel" it, whatever that means.

I am not claiming that I am a professional trader. The fact is, I was a loser for the past several months, until a few weeks ago when my trades started turning black. Maybe I just got lucky, but my confidence is building up. I realized, that patterns and set-ups just keep on repeating. You just have to be there, at the right time and at the right set-up, and voila...the money starts dripping in, hehehe.

Its a pity that the Peso is not in my traders flatform, otherwise I would trade it, knowing by experience, that it is stronger in the months of November and December every year, and weakens everytime their is a political scandal, which we have plenty, hehehe.

I do not advice Forex Trading as a source of income, unless you are really good at it in paper trading for several months. I learned the hard way, and I lost a few bucks. The mortality rate (i.e. losers) goes as high as 90%, with just around 5% profitable. In my opinion, it is an informed gambling, like trading stocks. And I guess, it sent many "lousy" traders to the poor house.