“Huck loves her bucks!” I always say. The problem, of course, is how to make those bucks!! In this blog, I'll be posting my adventures as I traverse the forex world, while trying to catch some pips along the way. To do this, I will make use of classical charting methods as well as develop my own Overall, the first quarter of 2012 was very harsh to me. I had 10 total triggered trades for the period - four ended up as winners while the remaining six were all losers. The end result was -143 pips, or -4.60%. Below is a table of all the trades that I took.
| Date | Triggered Trades | Gain/Loss |
|---|---|---|
| 1/05/2012 | Retracement Play on GBP/USD | -50 pips/-1.00% |
| 1/12/2012 | Two Plays on GBP/USD | -50 pips/-1.00% |
| 1/19/2012 | Support-Turned-Resistance on EUR/USD | -55 pips/-1.00% |
| 2/1/2012 | Play the Range or Ride the Trend? | +100 pips/+0.50% |
| 2/21/2012 | Inverse-Head-and-Shoulder-Trade on USD/CHF | -55 pips/-1.0% |
| 3/1/2012 | Catching the Dollar Rally on EUR/USD | +170 pips/+1.50% |
| 3/7/2012 | GBP/USD: Entering on a Retracement | -27 pips/-0.6% |
| 3/15/2012 | EUR/USD: Trading the Falling Wedge on EUR/USD | +8 pips/+0.00% |
| 3/21/2012 | GBP/USD: Playing the Range | -122 pips/-1.00% |
| 3/29/2012 | EUR/USD: Long at the Trend Line Bounce | -62 pips/-1.00% |
| Total | -143 pips/-4.60% |
What I Did Wrong
I think my main problem is that I do not manage my trades properly and that I pick the worst reward-to-risk ratios. In most of my losing trades, my account took the whole 1% hit, but when I win, I only got 1.50% at most. There was even a time when I only won half a percent despite earning a cool 100 pips.
That being said, I promise to improve on both these aspects for the upcoming quarter. When I put on a trade, I won't stop watching it after I get triggered. I will continue to monitor it and make adjustment as it unfolds. In other words, I will get rid of my "set and forget" mentality.
In addition to this, I'll be more sensitive to the reward-to-risk ratio. Since I am swing trading most of the time, I believe this is of utmost importance. I shouldn't be afraid of going for 3:1 or even 4:1 ratios.
Okay, that's all I have for ya'll now. Tomorrow, I'm going to show the stats for the HLHB Trend-Catcher 3.0 for the first quarter of 2012.
XOXO,
Huck
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Related Posts:
- HLHB Q2 2012 Trading Statistics 19:41 13 July 2012
- Huck's Q4 2012 Trading Review 03:53 27 December 2012
- HLHB Trend-Catcher Q3 2012 Results! 00:00 02 November 2012
- Huck's Q3 2012 Trading Review 23:59 11 October 2012
- HLHB Trend-Catcher Q1 2012 Performance 00:01 06 April 2012
