No, this blog is not dead, yet
Well, where shall I start to explain why I didn’t make any updates for nearly 2 months? Again, you guess, I have been very busy with different things. I got involved into a new online-project which costs me a lot of time. And beside that external project, I have to maintain and update my own website(s) – and still find some time for trading and programming the Point & Figure indicator – not forgot to answer all of your questions I receive from you via email So I hope you understand
Before I give you some updates on my trading account, I want to let you know, that I am developing a new website for the Point & Figure indicator, as I see that there are many people out there, that like to trade the purce price actions provided by Point & Figure charts. I wanted to thank everyone for your conversations, questions and recommendings…
Soon, I will set up a forum for all customers to let them share their experiences with Point & Figure trading and to answer most of the questions that occur concerning the usage of the indicator (like which timeframes to use or which box sizes and reversal are best for which trading style and market).
New instructional videos are also in the creation right now, plus many basic and advanced informations on Point & Figure charts in general. And there will be a time limited trial version for everyone that is interested in buying this indicator soon, as this has been asked from some visitors.
Trading in July and August
I don’t remember everything what happend the last 2 months right now, because some time has already passed since then. But the trading the last weeks was kind of hard. No real trends have established and markets did range. I had to adjust my trading style to this and made some losses in the beginning. After that, I got more aggressive, because I was not satisfied with the whole development of my trading account… not that the results are not good, so far. But I wish that I my account would already have made a steeper progress. To achieve this, I made some:
I live in Germany and because of this, I decided to switch my trading account from Dollar to EUR. I have also switched my broker because the current one (Liteforex, see commercial at the top of this blog) doesn’t support EUR accounts. To keep up my trading history, I have decided not to only pay out my current balance, but to add as many Euro to it, until the amount is the same… I ended in August with $352, which I have payed out, and started a new trading account with 350 EUR. For this, I had to add another ~100 Euro…
So my new goal in this challenge will be to make 100.000 EUR. To speed things up a little bit, I also decided to add another 50 EUR each month from the next month on. I know that this is not the same as if I had started with $100 and made no addional payment, but it’s still a challenge to make some serious money out of small, monthly savings.
My new broker (ActivTrades) also offers some interesting CFDs, which I also started to trade – didn’t do well at first and lost ~16% in a few days. But I could recover soon and am currently at ~ 370 EUR now. To make my trading account more transparent, I have added some widgets from this great website, that I wand to recommend everyone: www.myfxbook.com
You can get live updates of my account wich are updated every 5 minutes. Plus, new trades and closed trades will automatically be send to my twitter-account. I have added this account on my website, too.
Any comments will be appreciated.