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.
Although this saved me from back-to-back losses on my first two trade ideas (Long GBP/CAD and short AUD/NZD), it also left me with a really low R:R on my GBP/NZD play.
After that, I was also unable to catch the pullback I was eyeing on AUD/USD’s long-term channel break but I did manage to score some pips off NZD/USD’s range support bounce.
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.
Cheers!
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