020: Dual Strategy in Bipolar Trading
Nah, I just made that up. I don't even know if it will work.
I am currently short in EURUSD this week (especially since USD is showing signs of strength since last week and the IMF had just walked out of the Greece bailout talk).
I'm expecting it to drop to 1.11 level between now and next week. However, since I'm trying to manage my drawdown, I have decided to try scalping so I've taken a long position in the minute chart after seeing this divergence a moment ago:
I'm expecting the bounce to be temporary and hope to get some gains while carefully placing a stop loss around 1.1212 just in case it goes downhill earlier than I expect in my position trading in the day chart.
Meanwhile in USDZAR, I'm also long like this guy, for the same reasons, and also since the Greek issue does have an effect on emerging market investments (I actually didn't know that until I've read the news--it's really interesting studying correlations).
I'm hoping USDZAR will jump up to 12.618 (or higher) especially this coming Wednesday, once the Fed announces a clear schedule about its interest hike, unless Fed gets cold feet.
Since there's not much action in USDZAR (do remind me of Brett Steenbarger or Rob Booker's warning against giving in to boredom), I fancied practicing my 1 minute scalping in the ranging GBPJPY chart:
As expected, I fell asleep--which isn't allowed in scalping! The antihistamine injection was still kicking in, and I've practically traded in a slightly groggy state (but not as worse as the 'drunk trading' I did last time, thanks to 2 cups of coffee on an early Tuesday morning). Then I woke up after THAT jump.
Had I not been that lucky, the 2k I've just opened in Global Prime might already be margin called.
I wish I continue to be lucky as what those tarot cards show me in the past few days. Honestly, I don't really know if what I'm doing (and planning to do) makes sense. All I know is that the sudden allergy I got this weekend was a blessing in disguise and has given me an opportunity to have a glimpse of what my life will be like once I quit my current job--and though risky, it feels fantastic!
I've attended the real estate seminar this weekend (until I got that allergy which I've no idea where it came from), and it feels like fate is also trying to tell me to listen.
"When you feel troubled, follow your heart."--Mr. Romeo Lacsamana's grandmother
I do feel like taking the entrepreneurial path, helping out in a small family business and maybe taking a part-time/apprenticeship job (I'm not against working if it's aligned to personal goals. I hate it if it makes me feel shit and also starts wasting my time, and forces me to abandon my happiness), probably in the government or a firm in real estate appraisal if I make it on August, while taking a leap of faith in this new reality of trading for a living.
