Q3 2014 Forex Trade Performance Review

Whew! I finally caught a good break with my Q3 forex trading performance. Here’s a quick rundown of my trades for the past three months.

Trading Performance

DATE TRADE IDEA P/L in pips P/L in %
July 2 EUR/AUD Divergence Play +10 +0.10%
July 8 GBP/AUD Channel Canceled Canceled
July 16 NZD/USD Area of Interest Canceled Canceled
July 25 EUR/NZD Correction +150 +0.37%
Aug 6 AUD/NZD Double Top and Channel Resistance -150 -0.54%
Sept 4 GBP/CAD Trend Line Play +100 +0.16%
Sept 17 GBP/NZD Upside Momentum +550 +2.31%

No. of Trade Ideas:  7
Trades Triggered: 5
No. of Wins: 4
No. of Losses: 1
No. of Break Even Trades: 0
Win %: 80%
Average Gain Per Winning Trade: 202.5 pips / 0.74%
Average Loss Per Losing Trade: -150 pips / 0.54%

Total P/L: +660 pips / +2.40%

I was off to a bit of a weak start for the quarter, as I started out with a near-breakeven trade and a couple of canceled setups. I guess I was still feeling a bit cautious back then since my trading performance in Q2 2014 was shaky.

Afterwards, forex volatility and trends started to pick up, paving the way for clearer biases against the euro and in favor of the pound. In particular, the Scottish referendum results and the relatively upbeat U.K. economic performance allowed me to take advantage of rallies in GBP/NZD and GBP/CAD. Comdolls got hit when risk appetite weakened and the Greenback emerged as the king of the hill, thanks to speculations of Fed tightening.

As my forex trading performance began to improve and trends started to get stronger, I decided to up my risk per trade later on and put 1% on the line, allowing me to get a larger return on my last trade setup for the quarter. I’m a bit disappointed that I was a tad greedy with some setups, as I aggressively added to my position but wound up getting stopped out. At the end of the day though, I’m still giddy that I was able to finish strong!

Got any tips on how I could improve on my trading for the last stretch of this year?

Cheers,

Happy time

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What is the STA strategy? Q2 2013 in Review Comdoll Trading Kit GBP/NZD Trade

  • ForExchange

    Hi HappyPip!

    I do not know of course how you guys do on your private account where I guess you have many trades which you do not share here. So if you had like 100 trades and the average winning/losing was similar to the statistics you presented here, then you have to be pretty rich now! Congrats on your performance here and I wish you good luck!

    It does not belong here, but what is your current bias on GBP?

    FE

    • Hi, thanks for the positive feedback and the words of encouragement. I’m just trying to focus on one good trade at a time and executing properly, hoping that I can keep it up. As for GBP, I’m still long-term bullish on the currency (especially against the euro and the yen) mostly because of diverging monetary policy biases. Aside from the Fed, the BOE could be one of the major central banks to hike rates next year. How about you?

      • ForExchange

        Hi! Yes, I agree with you. I am also bullish on basically two currencies, the USD and the GBP. And very bearish on EUR, JPY and CHF. So lets find some good setups!

        • Same here! Looks like risk sentiment is favoring JPY as well for now, but I’m thinking this might also offer the chance to short it against a stronger currency at a better price. Any biases on the comdolls for now?

          • ForExchange

            Hmmm actually it is a surprise for me why AUD has fallen so sudden and so much. On the other hand both EUR and CHF got stronger. It might not work too good for a short-term setup, but on a very long-term trade I entered long AUD vs. the other two. Even if it goes against me, the carry trade will save me on the long term as I doubt that EUR and CHF will get super strong. If it works out my direction then carry trade is just the bonus on it.

          • I also can’t wrap my head around the fact that EUR and CHF have recently strengthened, too! Maybe it’s because the weakness has long been priced in? I’m also long-term short biased on these, just trying to figure out which commodity currency might wind up the strongest.

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