Hello Lily,
welcome to the Babypips forum! Feel free not only to learn and observe but to participate in the discussion too, we’d all love to have you!
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Hi! I am still here and still trading. I’ve just been answering some questions to help with an article about female traders so that was really nice to be involved with. I’m not sure I made much sense but still. Health wise I’m totally fine now, I had a minor operation that sapped all my energy for a week or so but I am good now. How have you been? How is your trading going? xx
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Thank you so much xx
Oh hello, great to hear from you, back in full health!
Can I ask who the interview was with, or even better, would you share the link (if online)
when published?
Look forward to your posts.
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It’s more of a community engagement initiative actually not really an article. So it will be on baby pips. A lovely lady penelopip asked me to take part in it. I know she’s still waiting on some responses so it might be a little while before it’s posted yet xx
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We look forward to reading it!
What are you trading, by the way?
I trade forex and occasionally some commodities. What about you? X
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Oh yes, I meant which forex pairs ? 
I am still trading exotics (TRY, MXN)…
Ahh right haha! I did wonder as I thought I had mentioned that I trade forex before 
to be honest I don’t exclusively trade certain pairs. I stay away from anything with a high spread. Mostly I trade EUR/GBP/USD/AUD/CAD/CHF and JPY pairs. Over the past few weeks I’ve mostly been looking at AUD pairs. Do you think it’s more beneficial to set a few pairs and only concentrate on those? Xx
I see … Yes, exotic pairs do suffer from lower liquidity and higher spreads…
You would not like them very much…
There is no real advantage in diversifying if you are diluting your time
and energy at the detriment of focus; however, for people with small
accounts it may feel difficult not to shop around for better deals when
their currency pairs/asset class of choice is so calm that nothing
moves and no money can be made there…
Because we do not know how our chosen asset will behave in the future,
and we only traded (for example) a singe asset - say, one currency pair -
we may face a difficult choice when, while sitting on our hands for several
weeks in a quiet period (e.g. very small pip movement, directionless, not
enough to call it a ‘range’ by any stretch of the imagination), we start
wondering how long the quiet period will last… Indeed, if we did nothing
there could be the real possibility that we could cut ourselves out of
months of potentially good trades by just adhering to the 'I must stick
to my rules’ mantra… Sometimes rules have to be broken and it is not
a bad thing: for example, if your chosen asset is not correlated to other
assets that move better during a quiet period, why not branch out and
try just one more?
What do you make of this angle?
Hi sorry it took me a while to get back to you. I hope you’ve been ok. Thanks for taking the time to write all that out I really relate to that actually as not trading is something I struggle with. I make bad trades sometimes just so that I’ve got something running which is something I’m working on and definitely getting better at… slowly haha. I’ve lost a bit of confidence in myself recently, I just haven’t been trading as well as I was before. So this week I’m going to self reflect and look back over some of my recent trades xx
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Thanks @lillyw91
I often think: is it possible to trade forex like stocks?
If you looked at UsdJpy or UsdTry you can see longer trends in certain periods, where you coild have just held on to one position and built positive equity. Because there is no underlying asset to currencies, like companies for stocks, this kind of long-term trend in currencies is a rare find. If you look at UsdTry for the last ten years, however, it did simply that: move in one direction.
This brings the question: is day trading profitable for people like you and me? There is anecdotal evidence that it can be, but for the majority it is not…
If you and I were to save money up and then decide whether to park it somewhere with the hope of good, compounded returns made on that money, would we:
-
day trade it ourselves?
-
buy stocks with it and hold those positions long term?
-
put in an ISA account?
Option 3) seems to be the one with the least risk and demanding no time/effort from us: the bank would do the investing and we would be guaranteed a return; option 1) would be the one with the most risk and demanding a lot of time/effort from us. Option 2) would be somewhere in the middle…
Finding trends in forex is a little trickier, as there are so many factors influencing possible changes in direction. After years of trying I personally failed to find a way to make trend-trading work for me, partly because I like to approach things from a fundamental perspective and currencies do not always tie in with fundamentals like stocks.
What do you think about the three options above? For example, if you saved up something like £5k yourself, would you think to park it in a high-savings (ISA) account or trade it yourself?
Hello how are you. Welcome to the community
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Oooh tricky question. Well I already own some shares and thats kind of like stock right?? I would like to invest more money that way.
I also have an ISA but there’s not much money it haha!
If I had £5000 today in my current situation I would trade it myself… however if I had no other savings I would definitely put in an ISA. I think it’s important to have those safe investments in place before taking riskier ones. What do you think? X
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Hi, I’m good thanks Jerry thank you so much. I hope your well x
Yes,.I agree , all very sensible
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Timing the market is one of the hardest things to do profitably…
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Thanks! Having a read now. Xx
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and…