Saturday, May 10, 2008

Taking a break, making the plan

I have been taking a break, since work is keeping me busy. I am shifting, or rather opening up to other markets now. I have written a trading plan that includes the pairs I will ONLY trade in Forex. There are three pairs, non correlated and all USD's. I am also opening up to the TSX, trading the ETF's and highly liquid stocks. Prior to using IB, I was with E-Trade, this was a few years ago. I found that the profits I made were all eaten with commissions, that to much, that money could have been in my pocket. Since switching I was intoxicated with the though of auto trading and switched to Forex. Well, here is my long term goal:

Trade the TSX with daily charts and intraday triggers, set up on TWS. At the same time, trade Forex intra day in small lots. As the same time, work on the automated trading system that will trade on a 1 hour time frame, from Monday to Friday, from 11pm to 8am EST.

Does anyone think I should share and post my trading plan?

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