An insight into a Forex trader

Well the weekend has rolled around again and whilst it’s absolutely belting down outside, I thought I’d put pen to paper, so to speak.

TUFXP GBPUSD ended on a good note for the week with a simple win but the FTSE trades I’m monitoring didn’t fare so well. Back to back losses yesterday meant a negative pip week but still around +150 for the month. Next month should be interesting to see if it’s a worthwhile venture.

I’ve got a lot of motivation going into next week and I’m excited to get trading again, I want to put the disappointments behind me and focus on what I love doing and I feel I’m ready to start moving forward. I’m a big dreamer and I have a lot of things I want to achieve and the desire has never been higher so I’m nervous/excited to see how the next few months play out.

The blog list is looking rather dim with a few not being updated in a long time so I’ll be getting rid, so if any of my 2 readers have any suggestions, feel free to let me know.

Have a good weekend.

You’d think opening a new trading account would be a simple process, wouldn’t you? It seems not with Fxpro!

They require proof of residence which is no problem, I sent over 3 pieces of proof of address with my name stated clearly on them. They have all been rejected for various reasons; older than 6 months despite it being dated 30th November 2009, can’t accept online statements despite it being identical to a piece of paper from the bank. They also rejected a third party payment when I was using my wife’s debit card as mine is still in process at the bank. We sent over a POA (Power Of Attorney) but it seems they don’t accept POA from a family member. It now looks like I’ll be trading next Monday if I’m lucky. Talk about a complete farce. Highly frustrating knowing I’m missing winning trades whilst getting the run around with the broker. All I can do is wait I guess and be hopeful it finally goes to plan ASAP.

I’ve finally managed to track down where my bank stuff has been sent and its to the wrong address! At least I’ll be fully ready for trading on Monday. Friday was a good day for TUFXP with a win on GBPUSD and an interesting day on the FTSE. The first trade lost for the maximum -35 but then fired in 2 winners to end the day up +5. With the FTSE future only being a 2 pip spread, it looks a decent proposition.

A few interesting comments regarding the new TUFXP method and thanks to those that left comments. It will certainly be an interesting few months to see if it can keep up this stellar performance. I wonder if all those people who flogged their TUFXP for cheap money will be regretting it? My own TUFXP methods that I created last year continue to do well and I have a firm grasp on what I want to trade now and will stick with it.

There must be something in the water here in Australia because it seems I can’t stay up past 10pm! In Dubai I was getting up at 6.30am and regularly staying up til midnight or 1am and not feeling any ill effects but ever since moving here I’m exhausted come 10 pm. Perhaps it’s having to keep track of my nutter of a daughter who has energy to burn in the bucket loads! I think with it going dark so early doesn’t help either, 5.15pm! Wow, that must be the most boring paragraph ever, time to move on..

Well I’m finally starting to settle in Australia but it’s certainly taking a lot of adjustment as just about everything is different compared to Dubai. The main reason for us moving here was the cheaper rent/house prices and a better quality of lifestyle but I’m stuck in that mode of converting everything to AED and can’t get over how expensive some stuff is. Grocery shopping isn’t cheap!

On the Thursday, the day after I arrived, I set up a simple EJ trade with what I thought was a standard 119 SL. As it turned out, I had entered 11.9 and on late Thursday evening (my Friday early morning) I got a margin call. Since then I’ve been contemplating my future. Apart from doing a couple of years as a Geotechnical Engineer, my whole life has been built around horses or trading and it’s a very sobering reality when your trading bank disappears into thin air which was supposed to be the kick-start of something better.

I’ve had several long chats with my family and various other people whom I consider important and I’ve decided to give it more last attempt at making trading pay. This whole year has been a battle of discipline, weakness and a multitude of errors but inevitably, the buck stops with me and only I can change that outcome.

I hope there a few readers left out there and I’m looking forward to getting back into trading. Bye for now..