Watching for the top and it to continue some downward momentum I took three positions before I went to bed in an awful practice of half sleeping and half keeping an eye on some trades. This time it turned out ok, but it is rarely the best for sleeping.
That being said I’ve shifted my focus a bit for the time being to currency markets. I do still keep an eye on Penny Stocks and more than plan to be bringing them back up from time to time at least. As I am working to build my accounts and pay bills though I am looking at Apiary Fund to help as I become a full time professional trader. They will fund an account for you to trade with once you pass their courses and prove you can be consistently profitable. I am currently working my way through this program and getting very near the funded account.
The chart above is on the day Federal Open Market Committee (FOMC) met. I had been trading a bit that day and was up over 26 PIPs. I didn’t trade this, but looking back at the signals there was definitely a signaled short opportunity as both the long and short term HMAs turned red. I was watching this live as the meeting took place and the more they talked the further down it went. It was my first FOMC meeting trading day so I didn’t know what to expect and because of that I avoided taking a trade. The next couple days were shaky and stability took a bit to return and cost me more PIPs than I’d expected to lose. As I’m figuring more of the signals out and starting to get into the flow I’m planning to journal and post more.
If you are interested in learning I would encourage you to look at my Resources Page and give Apiary Fund a look to see if it is right for you.
Until next time may you manage your trades well and always control your losses.
EarthShadow