missed an entry on a short at 1.4414. Pair is now below 1.44. update: now at 1.4392. Went long half size.
closed at 1.4399. +8pips. A fast scalp. I am not trusting the long side, and also not patient. It might go higher to around 1.4410 Cumulative gains: 210pips. Cumulative losses: zero Number of trades:6 Number of trades with gain:6 Number of trades with loss: 0
In one minute it fell from 1.4405 to 1.4360. 43 pips. My suspension of the long side in previous post was then well founded. I would was ready to buy at 1.4358. I missed by 2pip. The bounce was 32 pips. So two great trades were missed this morning. It would have led to around an 80pips gain in total. I feel impatient, and since I would buy if price were to be 1.4355 area, I decided to scale in even current price is not desirable as entry, because I might miss on the long side if it goes higher first. So I entered at 1.4387 with intention to add if it falls to 1.4355.
added at 1.4367 to long. So average price is 1.4377. My current feeling: pair has been looking weak on long side, so I am looking forward to know how a bullish behavior would come about develop if it develops later now. Would a rise in price bring in demand?
Closed the trade with +20pips gain. Pair at 1.4397. Cumulative gains: 230pips. Cumulative losses: zero Number of trades:7 Number of trades with gain:7 Number of trades with loss: 0
I have some questions: If one were to assume a 10% volatility of a currency, and if one were to assume a max leverage of say 20, what is a reasonable time frame to turn $100 to $100K (or to ash)? I realize it depends on a lot of other factors. I am however asking to question to see what is a reasonable time frame assuming it is doable, and if it is an impossible task if the readers could share the reasoning. Have you heard of anyone who did a similar attempt? What was the context, result, etc?
Exited at 1.4405. Entered at 1.4435. Gain of 30 pips. Noe to myself: If the 1.4436 recent top is confirmed, I feel it may fall 80 to 100 pips from the top. Why did I exit the trade: because I was concerned about a bounce up + I do not think the recent top is confirmed. Cumulative gains: 260pips. Cumulative losses: zero Number of trades:8 Number of trades with gain:8 Number of trades with loss: 0
if my calc are correct 10% volatility ~ 0.1% hourly volatility. if one catches each 0.1% turn, bets the whole bankroll each time using full leverage he will get to $100K in about 4,000 hours or ~ half a year. if one catches only one 0.1% turn out of 10 hours - 5 years. i don't even know how realistic it is to catch 1/10 hourly turns.