Not sure if this will work out or not. The USD has already been given a smack down, so there’s less likely that I’ll be right on this. Actually, consider this just a random chance of trying to make money with Forex, because I have no clue what I’m doing with Forex trading.
The market has been down a lot. Is this a trend? I don’t want to fight any trend, so I’m not ready to pick up calls yet, but I’m really prepared for it. I’ve been waiting to buy calls in a few high dollar stocks, just looking to make a scalping-type profit.
Last night while I was surfing the web answering questions (ya, I’m one of those types) I watched the Forex EUR/USD trade I made last night reach over $70 in profit. I didn’t take it, I was serious about letting it stay through the night. Well, this morning it wasn’t at $70 profit.
Time to see how much money I can throw away tonight. The difference is that I’m going to be a little smarter tonight, I’m getting in before the run up (or down) so that I have more movement from my position. Currently the movement is in my favor, but I never trust anything for too long.
First, a reminder to myself: don’t hold RIMM put through RIMM earnings on Thursday. OK, now onto the day’s predictions or guesses or incorrect thoughts.
Alright, I’m tired so it’s off to bed early for me. My Forex trade for tonight is buying EUR and sell USD, though I have a scaled back position compared to regular trades. I’m using a smaller quantity because I’m not too sure about which way the trade will go.
I’m not going to retire from this, but at least it’s a profit. I actually didn’t close my position when I first woke up, which I normally do. This time I wound up waiting until some news came out and than closed my position. Too early though.
