Alright...I'm getting a little too excited and flustered about varsity that I hardly can spend time on anything else. Even Miranda was pretty pissed actually. But anyway...here's my first, and possibly the only, post for the month of August.
Now, I guess I shouldn't bother you guys with any further info about my newfound varsity life, should I? But just to summarise, it's basically equivalent to having lunch with people, finding time to do non-academic activities, visiting libraries (even on Sunday, yes) and most importantly, to be buried under piles and piles of readings. I estimate I've to read and digest some 200 pages of material and research papers each week. But that aside, school is pretty cool and fun. Learning is supposed to be fun and interesting isn't it?
And as for Clarence's course, I guess that first session was meant for some Forex basics. But honestly, I think I wouldn't be able to learn that many technical terms and understand Forex trading in a 3 hour session. In fact, it was after quite a bit of experimenting and trying out the platforms that I figured out what it is all about. And I still don't understand why my limit orders sometimes are activated immediately when the order's price level hasn't been triggered.
In any case, it is a good refresher. Was really hoping to learn how to read the current market situation though. (Cos, interestingly, major US-linked currency pairs are undergoing major market corrections in favour of the USD.) Studying the GBP/USD, I found a nice doji at the end of the slide downwards for the past week. And the head and tail ends are pretty long, reflecting a whole lot of market uncertainty. Personally, on a pure gambling tendency, I bet the pair will head north now. Well, at least the stochastics agree. Parabolic dots are waiting to reverse, but I guess I'll need both to confirm my suspicions.
As for the system, I'm very glad to know I'm gonna learn alot more than just entry signals. My current belief is any system can work, as long as I can define a appropriate position size and stoploss system to take advantage of the expectancies of the entry system.
Another thing that surprises me is that Clarence's TNT system is applied on all 4 major currency pairs and even others like the EUR/JPY. In fact, he is looking at including the aussie and kiwi too.
As for the project to track my expenditure, and, in general, my entire personal financial accounting effort have been suspended for about a month now. I'm gonna try my very best to bring it on track by settling my financial spreadsheets today. And to truly implement my income management principles I set in place for myself.
Well, the GBP/USD didn'tmove northwards as I thought it would. Haha. Can you imagine? I actually wrote this entry over some 3 days. And so here's my mini-reflection-cum-updates.
Have a great week! Well, at least half of it is left.
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