Well, it’s been just over a month since I started with the Global Trader Blogger challenge. So far, the experience has been pretty interesting, and I have learned a whole whack about trading.Overall, I am down on my initial amount, but that’s all part of the learning. Hoping to change that this week.
As I mentioned in my previous post, the markets have been behaving rather erratically since the conflict in North Africa, and the Earthquake/Tsunami that hit Japan. When it comes to trading on the back of things like this, there has to be a “moral question” to ask yourself. So, do you trade the Yen when you know it’s going to fall after an aftershock ? We haven’t gone down this road (yet), and I suppose there comes a time, when the morality question is reached, and you can put money down on those volatile trades.
What is interesting though is to watch the graphs in the Future Trader software that you use to trade with. You can follow any stock or currency or commodity you chose, and they have some interesting graphs to show you whats happening with that particular trade. Here is the graph for the Yen/Dollar over the last couple of weeks.
I also been using the awesome tool from the guys at GT, called “The Wire“. I did mention this in my previous post, but this really is a great tool. If you have a twitter account, you will know what I mean. You can see all the latest trades (called twades) taking place, live, and you can even choose to follow them. You can also see the top performing portfolios and see what they been trading, and follow suit. I have been using The Wire quite a bit on my free simulated account, and so far it has been good, and I have followed a couple of really good trades.
So far, I have really enjoyed the Global Trader experience, and am looking forward to the next month to bring that balance back into the positive. I’ll be posting a couple of updates on my twitter account, as I make the trades as well.