Stupid=3, Non Stupid=0
Well … IG have so far been down for 30 minutes … not impressed
… and Yahoo were down for more than an hour earlier today.
edit: Yaay! we are back, 40 minute outage…
Remember the small print in your trader agreement!
It’s good to have tablet or cellphone access to your account as a backup.
Also have your broker’s phone number and have them close trades if your concerned.
Yes you will after the spreads, commission and swaps.
Further to ( @Leatherneck ) Jim’s occasional posts on trading, here are my results for the last year. Perhaps less revealing now that the audience is restricted, but nevertheless it is 'fess-up time.
My account ‘funds’ are up. Depending upon which stake in the ground is used I am up 60% on last September, 20% since last March when I had to fund to cover the ESMA rules, and 10% compared to July this year when I decided to give myself some headroom.
I am mostly scalping short term trades to win 5 to 10 pips, with the occasional attempt at making a few more, and sometimes that has worked out. I am also mentally preparing for increasing my position sizes because I am going to have to increase those if I want to try to achieve at least 20% on the year starting now.
If I can keep 20% per year average gain I will be pretty happy with that.
Now the bad bits…
I have adopted an occasionally used technique of betting in the rewarding direction of the swap. If such trades are left to run it is generally referred to as ‘carry trading’. In the 2 instruments I normally trade short on EU is more profitable than long on UJ.
So … currently my account equity is equal to or less than the invested amount, depending upon who last spoke or tweeted. The good news is that people like Kuroda are voicing desires that the Yen be weaker, and people like Powell are saying that the US economy is in a better place (hesitate to say ‘good’) than people believe. So in about a month my UJ carry-trade should be back to break even and I can then decide whether I want to leave it running.
Account equity now seriously in profit, UJ position still snorkelling, scuba diving actually.