Tuesday, March 9, 2010

Opened Futures and Forex Accounts at TOS

Although I don't anticipate myself doing much trading in either of these accounts (or allocating much money to them), I think they'll be good learning tools

On Sunday night I had to stay up til 4 am finishing up a problem set.  Naturally, as soon as I was done I opened up my TOS desktop platform and to see how the overnight futures and forex were trading.  It's fun to witness how it all pieces together with the price of oil being traded 24/7, how the algorithms/people up at 4am perform the elaborate bid/ask spread dance with much lower liquidity to determine where we'll open in the morning.

I am thinking about taking out a long position on the Australian Dollar, will have to keep watching it for a while.  I might start putting up paper trades in the Australian Dollar and oil futures up here.  However, these seem more like day-trade ideas as they trade almost entirely on technicals.  If the paper trades grow consistently profitable I can see myself allocating 5-10% of my portfolio to swing trading, with the rest locked into my long-term plays.

Can't believe it's already been a year since the market low.  Congrats - the world didn't end!

No comments:

Post a Comment