I am going to start trading FOREX with some real money soon, whenever my signature card goes through at thinkorswim....

Its going to be a tiny tiny account.

To test out some smaller account size strategies, I just took a position with the USD/CHF pair.

I have 1 lot of 10,000 out there testing the waters in a long position. This time around, I have limit orders in place to stop me out and to sell when it breaks to a certain point. Let's see how this goes.

So wzup everyone....

I couldn't sleep so I decided to load up the FOREX Trading Platform. I currently use thinkorswim's desktop platform.

I decided to test the market so I put in a few trades with in the paper trading account. I was leveraged out to the max! I was long the EUR/USD pair with 5 lots. I had a feeling it was going to give me a good gain looking at the 1hr, 30 min charts.

By the time 9am hit, I was so tired and I went to bed without putting any stops on. I woke up around 2 o clock to find out that I was down -2.5k! I looked at the chart, it did indeed break out while I was asleep, but there were no limit orders in place to sell on the break out. It collapsed back down to a support level.

So I was right about the breakout, i just had to wait for the action. If i was up I could have shorted on the way down to.

Hello everyone. This blog is about the journeys in life I go through making money. This will be a experiment.

Its pretty bare, i know......

Interesting topics and ideas are on the way...!