A Day in the Life of a Trader (27/06/2017)
I've been on the move the past week as I have been travelling the north of Scotland.
It's strange to think I've been to various places around the world but never travelled my own country?! If you've never experienced the views at the north of Scotland I would highly recommend making a weekend of it, it's absolutely insane and trust me, pictures don't do it any justice.
I'll go into more detail on my trip in later posts.
On my way to Fort William I stopped by South Queensferry, this is one place I like to visit regularly.
Whilst I was there I went for lunch at The Railbridge Bistro, to anyone visiting or living in Scotland you need to try this restaurant, it's definitely one of my favourite places for local seafood.
Scottish lobster and haggis is by far the best items on their menu :)
After lunch the journey continued, heading towards Perth whilst stopping off at several spots to take some shots... Mainly because https://steemit.com/@powelluke is a photographer.
During our 3 hour drive, (well, it soon turned to 5 hours with the amount of stops on the way) I updated my forex positions and adjusted my stop loss levels where necessary.
The majority of my analysis was done prior to leaving, as mentioned in my previous post I'm not seeing a lot of opportunities at the moment but in good time there will be positions worth taking.
Don't forget to upvote, resteem and follow me for in-depth market analysis and investing education.
what did you trade today?
I'm still holding CAD/CHF and for cryptocurrencies I'm heavily watching SC, MAID and XRP you?
I bought some ETH and LTC. Probbaly lock my profits in 3-4 hours.
Get 'em cheap! ETH looks good for a move to $300 short term, market seems to be recovering.
Haggis and Irn Bru are now the theme song to my life.
The U.S needs some haggis and Irn Bru.
Wish I'd taken your position at The Railridge Bistro haha
Lol the lobster is real good, where are you from?
Chi-town!! Represent. Followed as well, trying to get any insight I can from more experienced traders
That's cool! Feel free to look through my posts, I provide a lot of useful trading content on here :)
Can you explain stop losses? Do you use stop loss limits?
If you're talking about forex I use a stop loss at a specific price in alignment with my trading plan, this is used to prevent further losses.
I trade using both stop loss and take profit levels, I never use buy or sell limits.
Thanks for the explanation :) do you manually adjust your stop losses upwards as a commodity rises?
You're welcome! I move my stop loss into profit once my first profit target has been reached, this way if I experience an unexpected reversal it won't end up a losing position.
Ah right that makes sense. So initially your stop loss starts at a loss and should it rise into a profit and reach your target that then becomes the stop loss. Followed and upvoted :)
The views in Scotland are incredible! This is definitely the place to be.
Absolutely!!! The further north you go, the better they get :)
Do you know they never stop painting the firth of forth Rail bridge...
Yeah they're trying to improve the paint so it lasts decades, don't think it has been too successful lol
that painter must have the coldest, windiest, most soul destroying job in the world...... lol
Haha I'll second that... No job satisfaction whatsoever!