HLHB Weekly Update – July 15, 2011

Because I had to keep my myself from facing the fact that Harry Potter is finally over (sniff, sniff), I decided to round up my stats for the second quarter of 2011. Too bad for me, the digits I came up with aren’t exactly the best pick-me-uppers.

Here’s a list of all my trade ideas for Q2 2011 and their corresponding results:

1. Going Long EUR/USD! Who’s With Me?!?+110 pips/+0.60%
2. A Case of Déjà vu on EUR/USD+100 pips/0.50%
3. EUR/USD: Has the Trend Reversed? – Did not trigger
4. USD/JPY: Going Against the Trend-100 pips/-1.0%
5. EUR/USD: New Yearly Highs in the Making-75 pips/-1.0%
6. Trading the News: U.K. Inflation Report+53 pips/+1.0%
7. Bullish Flag on USD/CHF – Did not Trigger
8. Waiting For A Breakout on EUR/USD – Did not trigger
9. Will the Falling the Falling Trend Line on Cable Hold? – Did not trigger
10. Riding the Trend on USD/JPY – Did not trigger
11. EUR/USD: Shorting on a Pullback+104/+0.52%
12. USD/CHF: Riding the Downtrend – Did not trigger
13. Risk Aversion Plays on EUR/USD and USD/CHF – Did not trigger
14. GBP/USD: Buying the Dip-50 pips/-0.50%
15. Trading the News: Lesson Learned – Did not trigger
16. EUR/USD: A New Trend Higher? – Did not trigger
17. USD/CHF: Short at First Sight+41 pips/+0.35%
18. EUR/USD: Shorting on A Fib-118 pips/-1.0%
*Just click on the titles if you want to know what happened. You may learn a thing or two from the wrong (and right) things I did!*

I had a total of 18 trade ideas but only half of those got triggered. From all my triggered trades, 5 of them ended up as winners while the remaining for closed as losers.

Although I had a net total gain of 65 pips from my 9 trades, my account is actually down 0.53% for the quarter.

The negative figure felt like a slap in the face compared to my 2.28% gain during the first quarter of the year. When I realized this, I almost immediately started to regret calculating my stats. But I guess I have to learn to face the music if I really want to make it as a trader.

What I first I noticed was that my average loss per trade is bigger than my average win per trade. This suggests that I usually lost on trades in which I seemed more confident in putting bigger position sizes. On the other hand, I risked relatively smaller positions in my trades that ended up as winners.

I might have been able to up my winners had I held on to my pinky promise before to maximize my profits by adding to my winners. Aside from that, I could have been more flexible with my entries. I think I could have gotten a couple more winners if my triggers weren’t so conservative.

EUR/USD 4-hour Chart

As for my HLHB system… well, it didn’t really bring any bad news, but it didn’t bring any good ones either. It basically avoided a fake out earlier this week. As you can see from the chart, there was a crossover but the Stochastic was already at overbought territory and the candle following the crossover candle did not meet my 20-pip filter.

Alright, that’s it for this week folks. but before I go, let me just plug my brand new Google+ account! If you have one, add me to your circle! Now, if you don’t like Google+, you can also find me in Facebook and Twitter (@LoonieAdventure).

See you next week loves!