my trading day ~tuesday 16th march ’10

Welcome to my blog.

If you have not ventured onto this page before, my intention is to let you know what my life is like as a full-time financial trader. As I live in the UK I use spreadbetting to actually trade the markets, and I tend to concentrate on Forex pairs and the S&P500 Daily Index. I work to a small daily target of +25 pips, and most evenings I will trade my “Trade With A Day Job” strategy, which has a daily target of +20 pips, so i am looking at an overall daily earning of around +45 pips.  The target profit I set myself may not seem very high, but with the power of compounding when you initially start off, you can very quickly accumulate large sums of money and very soon be at the stage where you can trade at £30-£50 per pip. I am sure you can do the mathematics to work out your potential earnings at that stage !!

My idea of having a small fixed target for my day-time trading is that I do not spend every waking hour in front of the screens (which I have done in the past) I want to enjoy my numerous hobbies and also see friends on a regular basis. I find that most days I can finish by lunchtime, so that leaves my afternoons free to do as I wish. Also, I do not work on a Friday, so elongating my weekends into 3 days.

Anyway, this Tuesday started early again, and I was at my desk just before 7am.  It’s no real struggle to be up at this time – I think the mornings are the best time to get work done, before everyone is up. I had 3 paper rounds when I was 11 years old (probably not allowed now as I would have been deemed too young!!)  so going to work early has always stuck with me.

My first trade with my “Any-Time” system was just after 7:15am (GBP/USD)  with  a target of +22 pips. Just after 8am, the 2nd signal came up  (USD/CHF)  with a target of around +12 pips. They both played out successfully, and I ended up with +26 pips from the first trade and +13 pips from the second, as they both overran a bit.

I was out for most of the rest of the day, but I was back by 5pm to trade my evening system, and I managed two trades and a total of +40 pips, so my total for the day came to +79 pips.

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This entry was posted on Friday, March 19th, 2010 at 8:06 pm and is filed under Trading Days. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.

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