I just closed out my position on the EUR/USD @ 1.5585. I placed the buy trade on Wednesday before I went to work and made my stop at 100 pips below. That day, it went south but only to touch 1.5421. I got lucky. Last night around 4:00 am, it went above 1.5500 but I […]
The Blog Novice
The Personal Trek of Eric P. Martin
Archive for May, 2008
Lesson # 6 in Forex Trading
Posted in May 15th, 2008
by epm1013 in Uncategorized
Last night, I placed a sell of the EUR/USD around 1.5460. During the evening hours, it was trading sideways. At one point, I was up $10.00 (only bought 1 lot). I thought, take the profit. I wound up making only $6.70. But when I woke up this morning the market had moved against my sell trade. […]
Lesson # 5 in Forex Trading
Posted in May 14th, 2008
by epm1013 in Uncategorized
After executing three losing trades last night, along with losing over $200.00 in the last week, I’ve decided to invest in my trading education.
I thought I was being smart and placed trades below and above the support and resistance (EUR/USD) with of course my stops at 50 pips. In the middle of the night, one […]
Lesson # 4 in Forex Trading
Posted in May 13th, 2008
by epm1013 in Uncategorized
I placed a sell order last night. I doubled up on my trade and bought two lots. I changed my 50 pip stop lost to 25. If I had kept it at 50, I would have made $200.00 over night. Instead, I lost $53.00. Lesson #4 learned. Develop a system and stay with it.
What are my rules?
Place […]
The Stock Trading Robot
Posted in May 12th, 2008
by epm1013 in Uncategorized
When I got home, I opened up the trading program I purchased yesterday. The Stock Trading Robert called Marl.
I successfully downloaded the NASDAQ as instructed which gave me back data until the end of February. When I followed the instructions on how to update, I failed. Tommorrow, I will call Clickbank to see if there […]
Lesson # 2 & 3 in Forex Trading
Posted in May 12th, 2008
by epm1013 in Uncategorized
Last night, I placed a sell @ 1.5450 for the EUR/USD. At around 1:00 am, I was in profit around 50 pips. I let the trade ride and it reversed on me to move and close me out at my stop at @ 1.5500.
What I learned from this trade is that when you in profit, […]
Thoughts on Amit Mehta’s Ebook
Posted in May 11th, 2008
by epm1013 in Uncategorized
Today, I finally hooked up the new printer I bought last week. I bought it to print out posts of certain blogs to study affiliate marketing. Interestingly enough, I found Amit Mehta’s Super Affiliate Mindset blog to be very rich in content. I made a note to myself to start with his blog.
Amit has written […]
Rethinking my exit plan
Posted in May 10th, 2008
by epm1013 in Uncategorized
photo credit: Okko Pyykkö
After talking to a local business owner of a dollar store today, I’m begining to rethink my idea of quitting my job in August. The owner of this dollar store said that even his business is hurting by the ecomony. He also said the warehouses where he buys his mechandise, some […]
$12.00 Profit
Posted in May 9th, 2008
by epm1013 in Uncategorized
Last night, I placed a buy on the EUR/USD. I placed around 1.5440 and placed a stop at 1.5415. I’ve learned from my last investments not to place a trade without a stop. I wound up in my first and only trade losing $250.00. The position was closed out on a margin call. I got […]
Belief
Posted in May 8th, 2008
by epm1013 in Uncategorized
School ended this evening with me receiving an A in my speech class as well as me getting a hug from my teacher. I’m glad it’s over as now I can focus on creating $10,000 in sixteeen weeks.
I started off today by depositing money into my Forex account. I’m starting my account with $500.00.
I have […]
