Makes a change from what I usually get from my 'better' half, "you spend all your time trading, moan moan", she doesn't mind spending the money though! She thinks pips grow on trees, inside oranges probably
I'm still trying to get more info on the 27/23, but so far it works pretty well, and strangely agrees with my TA, weird.
Cliff, I was looking at longer term trading a few weeks ago. I'm thinking of leaving a position on a pair I don't trade daily and seeing what happens. It would have to be something where the interest covered the spread on the roll-over. Like you say, wide stops, I wonder if I could handle that and sleep at night...hmmm!
Fundamentals and data. I don't think any trader can afford to ignore fundamentals altogether, but I don't trade because of them. I believe it's helpful to get a general feeling of market sentiment towards a country's economy but then so much of it is hype, spin, and manipulation, look at the US as a classic example. Data is a definite market mover as you know, but how data is interpreted by the market is a mystery sometimes. My policy is that news and data can explain the reason for a move, but can't be relied on to predict one, and we're in the speculating business where we need to know what's going to happen before it happens! I tend to trade what I see on the screen in front of me, it can't lie.
Anyway, where's the other traders who are making money, this isn't an IRS enquiry!
Cheers
Pete