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FOREX is great

June 8th, 2009

I really mean it. Can’t believe I haven’t realized this before. A old class mate of mine have been trading FX for years now, but I never really got it. Seemed so arbitrary how the whole pricing worked. I totally understood how other financial instruments were valuated (okay, some of them at least, have been learning most of them, including the weird CDSs, the last year or so). At least, now I realize the potential. The market is so liquid that there just is no comparison with other markets. Perfect for trading since there really isn’t any difference in going long or short, it’s all trading one currency for another, no difference.

So now I am committed to really learn some manual trading system. Check out http://www.surefiretradingchallenge.com/ if you’re interested in some systems that seem very promising. FAP Turbo Steve have been sending me “spam” promoting them today. I will check them out tomorrow.

On the EA front (automated trading) there’s not been much changes to my line up. I’m still running FAP Turbo (DonnaForex settings, she knows whats she’s doing), MegaDroid and GridBot (GBPJPY, USDJPY, CHFJPY, EURJPY and AUDZND as stated in other posts). FD2 is doing good this week, but I’ll keep it in demo trading for the week at least.

Also been reading up on writing my own EA this weekend. The MQL4 language is real easy and I have some ideas I would like to test out. I will base it on a Grid trading system using pivots and hedging positions. It will be more long term than GridBot (probably D1). Still annoyed that the GridBot team doesn’t release their version using hedging. Perhaps I’m just having hubris, but it seems quite easy to implement…

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