Thursday, October 22, 2009

Trading Forex In Different Enviroment

The wonderful thing about being a Forex Trader is I can trade Forex at anywhere as long as it has internet connection. I like travelling around the world to see different culture.
Most of the time, I execute my trade at my SOHO with 2 laptops on my table. If I have 8 hours in front of screen during London-New York session, I will trade aggressively by applying the so called "scalping" method. It is like playing computer games, chances to make money is there but you need programming your brain well. It is a very tiring too. Emotion sometimes can overtake reality.
While I am travelling, I will monitor the market once or twice a day. I will preset the entry and exit points. Of course this type of trade may go or against you. By applying hedging methods, I tend to like this type of trade. For the last 2 weeks, I was at Kuantan, Malaysia and Bali, Indonesia. I made good money.
Lastly, I do some trading at cafe while have meeting with my business partners. Frankly, it is hard to trade in this environment since the you need concentration if you applying scalping. It is too long for you to see the results if you go for swing method.
In the end of the day, if you want to trade forex effectively, you need to prepare your trading skill in different environment unless you like PC so much and willing to stick in front of the screen 24/7. No body like that, I think.
 
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