Can you believe we’ve gone through a full quarter already?! Here are my trading numbers for the past three months. Feel free to share yours!
|Date||Trade Idea||P/L in Pips||P/L in %|
|Feb 9||Will GBP/USD Keep its Uptrend Alive?||+95||+0.23%|
|Feb 21||USD/JPY is Approaching a Retracement Level!||+175||+0.50%|
|Mar 16||GBP/USD’s Short-Term Uptrend Still Intact!||+50||+0.25%|
No. of Trades Taken: 3
No. of Wins: 3
No. of Losses: 0
No. of Break Even Trades: 0
Win %: 100%
Average Gain Per Winning Trade:+0.3267%
Total P/L: +0.98%
As you can see above, I took a chill pill and held off from taking any trades at the start of the year.
My first trade was a retracement play on USD/JPY right when it hit the 50% Fib levels. The pair took a while to hit my PT, but Trump’s protectionist stance, as well as concerns over Uncle Sam’s twin deficits eventually dragged the pair 175 pips lower than my entry.
I turned to Cable while I was waiting for USD/JPY to drop some more. At the time a surge in dollar demand presented an opportunity to buy the pair at a lower cost. Unfortunately, I got in just as the trend was about to end, and I only got 95 pips out of the move.
Since I was still bullish on the pound and bearish on the yen, I decided to jump in when Cable jumped above the 1.4000 major psychological handle. But while my trade idea is still valid, a huge wave of profit-taking took out my adjusted stop loss. That means I gotta look for another entry next week!
Not a bad trading quarter overall! But over the next couple of months, I think I’ll work on taking more trades. Though the dollar’s catalysts are no more predictable than the usual, current market conditions make identifying trends just a little bit easier.
And then there’s tiny bit about taking more trades being part of my 2018 trading resolutions. To become consistently profitable, I’ll have to be comfortable with actually taking and managing open positions.
That’s it for me today, friends! Let me know if some of these scenarios are familiar to you. Better yet, share your own trading yays and woes!
This content is strictly for informational purposes only and does not constitute as investment advice. Trading any financial market involves risk. Please read our Risk Disclosure to make sure you understand the risks involved.