Hello and welcome to today’s adventures in the Forex Jungle.
There was no major news data due out today that would really affect the £/$ pair. Yesterday’s budget was a non event, offering nothing to anybody. Wow!!! A whole 1p per litre off fuel, think I’ll go fill the tank up, an amazing opportunity to save myself a whopping 50p.
I said recently that Osborne was going to talk the economy up, so to hear him state the bleeding obvious about recovery being slower than expected, really does not paint a pretty picture does it!
How many more people are going to have to lose their jobs, and how many more essential services will be slashed, before these fools realise that they are driving this county back into the teeth of a recession of their making. We can no longer wholly blame the banking industry for this mess. Yet all our wonderful MPs' do is sit around playing party politics, pointing fingers at each other and pulling faces! I’ve seen and heard better debate at my daughter’s kindergarten.
As far as jobs go, I’ve honestly given up the attempt to find a reasonably well paid one. Any that do get advertised are well and truly oversubscribed. No, I think I’m going to concentrate my thoughts on making a living from trading the forex markets from now on. Speaking of which, had I continued yesterday I would have seen a 100 pip gain as the £ continued its descent after I had closed my trade out.
On to today’s action though, and this morning I was in a hurry as I had an important appointment to attend early today. I was thinking that I may not get a trade in. However, the indicators on the 15 min & 1 hour charts were straight into a sell signal. I entered at 1.6225, setting a profit limit of 50 pips @ 1.6175. Thankfully the target was hit, but I had gone astray from my usual strategy of looking to 25/30 pips if I’m unable to monitor the trade. I obviously wasn’t thinking straight whilst rushing to get ready. Fortunately, it worked out ok. The kitty is now progressing nicely at £862.00.
There is just over one more week of trialling the system virtually, and then it is time to put my money where my mouth is and get trading the system for real. I will be looking to make a start doing that on Monday 4th April. Once again I am going to be starting with just £100.00, back to square 1. I now have faith in my system, and I will prove its effectiveness with real money from that date. I hope to show that you can get involved with trading forex without having a small fortune to begin with.
Until tomorrow, have a good day on the platform.
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