After some fair results in futures, I decided to move to FX. There are several reasons to this move.
- I do not have full mornings 3 days a week to trade futures. I am currently back to school in Toronto, Ontario, Canada. Mondays are too slow, Fridays are a little too crazy sometimes.
- FX can be held 24/5. Starts Sunday 6pm EST and ends Friday 6pm EST. Positions can be held overnight.
- The contract or lot size is variable. You can trade sizes less than 1 lot. For example, 0.22 lots for EURUSD = 22,000 EUR. A full lot is 100,000 EUR. The futures contract is fixed even for 6E, The CME equivalent of EURUSD.
- With the above in mind, I can vary my risk according to my targets. And example will be I can trade with 0.1 lots minimum with a target of 50 pips and a stop loss at 100 pips. I won’t gain much and I won’t lose a much either. The bottomline is I have gains.
- FX Robots. Yes, some might say where is the fun in trading using robots. This is a business not for entertainment. Bots do take out the emotional element. Some of us, how strong we are do get knocks emotionally and it affects our trading performance. Bots follow a plan to the strictest of rules which we sometimes bend or break.
- My belief is that bot trading is going forward. We electronic traders have more or less displaced pit traders. Now it is our turn to be displaced by bots. Now it is who programs better logic to their bots.
- I am trying to learn more about C# in school and hopefully program a bot based on Ninjatrader.
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