Greetings, comdoll buddies! I took a quick break from my mechanical system tests to crunch the numbers on my discretionary positions. Take a look!
Forex Trading Performance
|DATE||TRADE IDEA||P/L in pips||P/L in %|
|Apr 3||GBP/AUD Uptrend Resuming||Not taken||Not taken|
|Apr 10||AUD/NZD Falling Wedge||Not taken||Not taken|
|Apr 17||GBP/NZD Symmetrical Triangle Breakout||+100||+0.001|
|May 3||AUD/USD Long-Term Channel Break||Not triggered||Not triggered|
|May 8||NZD/USD Long-Term Range Bottom||+50||+0.17|
|May 17||Riding the Bearish Wave on NZD/CHF||Not triggered||Not triggered|
|May 22||EUR/AUD Long-Term Range Resistance||+15||+0.01|
|June 19||CAD/JPY Reversal Patterns||Still open||Still open|
No. of Forex Trade Ideas: 8
Trades Triggered: 4
No. of Wins: 3
No. of Losses: 0
No. of Break Even Trades: 0
Win %: 75% (so far)
Average Gain Per Winning Trade: +0.06%
Average Loss Per Losing Trade: 0.00%
Total P/L : +165 pips / +0.181%
Bah, I know, I know… Nothing impressive about these results!
And don’t let the high win rate fool ya because I chalked up a meager average gain per winning trade, but at least I managed to avoid big losses.
Then again it’s precisely this very cautious way of approaching trades that prevented me from catching potentially good plays on a handful of these setups.
When I thought of flipping to a short Kiwi bias with my NZD/CHF short idea, I was a tad too cautious with my pullback entry that I wound up missing the drop. Not the first time this happened!
I really tried to build on my short EUR/AUD position but got caught up in a pullback from the breakdown. Fortunately I was able to make adjustments to snag a few pips, but I still can’t help but wish that I was able to lock in more gains.
My short CAD/JPY trade is still open but not looking too good since the pair is still in correction mode. Fingers crossed that this isn’t a reversal, though!
Got any tips on how I could improve my performance? As always, I love getting your feedback on my trading decisions.
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.