And just like that, we’re already halfway into 2015! But before I take on new trades for the next quarter, here’s a rundown of my forex trading performance in the past three months:
|DATE||TRADE IDEA||P/L in pips||P/L in %|
|Apr 14||GBP/AUD Short-Term Pullback||Closed at breakeven||0.00%|
|Apr 29||NZD/USD Rising Wedge Breakdown||+25||+0.01%|
|May 7||AUD/JPY Reversal Pattern Forming||-150||-1.00%|
|May 19||AUD/USD Uptrend||-150||-1.00%|
|May 28||Watching GBP/NZD’s Channel||+300||+1.83%|
|June 3||AUD/USD Support Turned Resistance||+50||0.30%|
|June 16||EUR/AUD Uptrend||Not triggered||Not triggered|
|June 18||GBP/NZD Bullish Pennant||-300||-1.00%|
No. of Trade Ideas: 8
Trades Triggered: 7
No. of Wins: 3
No. of Losses: 3
No. of Break Even Trades: 1
Win %: 50%
Average Gain Per Winning Trade: +125 pips / +0.71%
Average Loss Per Losing Trade: -200 pips / -1.00%
Total P/L: -225 pips / -0.86%
Not such a good quarter for me, huh? I was off to a terrible start with a couple of near misses followed by back-to-back losses, before I was able to turn it all around with my big win on GBP/NZD. I was also able to score a few pips off my AUD/USD short forex trade, but then I erased ’em all with my last GBP/NZD setup. If only I hadn’t been too eager to go long on that one!
The past three months turned out to be a roller coaster ride, not just for my emotions, but for overall forex market behavior as well. I tried to press my advantage on a couple of setups that appeared to be heading my way, only to see a similarly strong reversal afterwards. I probably should’ve stuck with short-term trades when I realized that market sentiment kept shifting on a dime.
For the next few months, I think we’ll be settling into a more range-bound environment, as the summer doldrums kick in and the Greek debt drama might finally be over and done with. Forex traders could turn their attention back to economic data and central bank biases, with another RBNZ cut and a potential Fed rate hike looming. Do you think I should be focusing on short-term trades in the upcoming quarter?
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