Saturday, May 16, 2009

Updates

Ok so I have officially decided that my trading strategy is drilled enough into my head that I am ready to go live.

Time to set some goals.

1. Obviously as I don't have capital required to go live as of now, priority is on raising capital.
2. As goal 1 is going to take time, I need to begin to look into brokers. Most important is going to be liquidity, as some of my trades are scalps, I need to be fluid in and out of the market, so aiming at larger broker would be more to my advantage. Also, larger broker means better spreads. So far I am considering MBtrading, and Hotspot FX.
3. Begin work on Risk management strategy (really want to work on modeling volatility to do position sizing, possibly work VaR into the equation?)
4. Create trade tracking sheet.
5. Look into designations, if more capital is needed, so are licenses to take-on said capital.
6. Bananas. Just felt like typing.
7. Keep truckin' away on the business plan.

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