Thoughts2

My Thoughts on the progress:

On FX - I am happy with the progress. When I first started, I blew up my first demo trading account (amount =$5k). The trading strategy was pretty aggressive - scalping and the amount I bet was large, around 200k to 300k. Within 2 weeks I was able to bring the account to $7k, but the next 2 weeks I reduced the account to $2k. How and why I got burnt? It was on the AUDUSD. AUD was trending up and reaching 92 cents before it went down. At that time I already bet 300k going up further. I didn't use technical analysis at all. I was pretty much using my gut feeling to trade - asking questions to myself "what is the market sentiment?". This is pretty much impossible for 1-15 mins scalping, in my opinion. That was very hard. If I am not working full time on my other job, I will spend more time on scalping.

On Equities - I am content with my investments (using real money). WHY? I have invested in good companies-Coca Cola and westfield. I have also invested in GOLD (quite a big sum). Other investments that I made and don't particularly don't like/scared - TOLL Holdings and RSL. Toll - I made the bet the economy will go up, but I was wrong, this was in the year of early 2010. RSL - i was pretty gullible when i made this investment, i just followed a person's advice without researching at all - this was the year of 2009.

My current stance - trying to sell off my equities due to double dip recession. In return, I am going to put into my term deposits for a few months.

On Bonds - Still no progress yet.. better start running the engine.