Friday 20 April 2007

Adventures in Day Trading - day 2

DW went solo with a spot AUD/USD trade today. Managed to make around US$300 profit! It seems so easy when things go your way, the biggest dangers are in getting overconfident and not sticking to your trading plan - ie. closing your position if things don't go the way you expect. We'll see how her trading progresses in the next few weeks. I suggested that she apply for her own CMC account to do her forex trades - there's no point in her continuing to use my account, as the profits are taxable at my marginal tax rate, which is higher than hers while she is on maternity leave.

Enough Wealth

1 comment:

zacharyfruhling said...

I'm more of a buy and hold investor myself. I don't have the stomach for day trading.