So far so good! It looks like my decision to change up my system is paying off. I finished another quarter in the green! Woot!
However, to say that Q2 2013 went as smooth as Robin Thicke, would be a lie. A quick glance at my numbers would show that I struggled during the start of the quarter.
|4/3/2013||USD/JPY: Perfect Bounce Off the 61.8% Fib?||Breakeven|
|4/11/2013||USD/CHF: Simple Fibonacci Play||Did not trigger|
|4/17/2013||The Start of A New Uptrend on EUR/USD?||-1.00%|
|4/24/2013||GBP/USD: Eyeing Resistance At the Falling Trend Line||-1.00%|
|5/2/2013||USD/JPY: Shorting On A Pullback||-1.00%|
|5/8/2013||GBP/USD: Eyeing A Bounce At the Rising Trend Line||Did not trigger|
|5/23/2013||USD/CHF: Jumping in on the Dollar Rally||-0.77%|
|5/30/2013||EUR/USD: Shorting at 1.3000!||-1.00%|
|6/6/2013||EUR/USD: Anticipating An Upside Break||+1.17%|
|6/13/2013||EUR/USD: Eyeing Support at 1.3300||+0.23%|
|6/25/2013||Changing My Bias on USD/CHF||+6.20%|
|Total Gain / Loss||+2.83%|
Looking back, I realized a few mistakes that made trading such a struggle. For instance, there were times when I carelessly left my limit orders instead of watching the market closely before pulling the trigger.
I can also recall a couple of occasions when I got too caught up in my biases that I didn’t prepare any contingency. My GBP/USD trade got stopped out after the U.K. GDP came in better than expected while my short USD/JPY trade incurred a loss following a positive NFP.
But I’m also giving myself a pat on the back for doing a few things right. As you can see, I did a good job in limiting my losses to just 1%. This made it easier for me to pare my initial losses. Also, I had the guts to press my trade which allowed me to ride the rally on USD/CHF and finish the quarter in the green!
With two back-to-back quarters of gains, it looks like I made a good call in incorporating moving averages into my system. It seems to be working fine so I’m gonna stick to it for a few more months.
I just hope that we see more market-moving catalysts in the coming quarters that impact the trading environment for a while. This quarter, the biggest market-mover was the Fed’s decision to start tapering asset purchases. I wonder what the next one will be! What’s your guess?
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