Oh gosh! So much for trying to pull off a comeback. Little ol’ Huck didn’t get any love from the forex market in the last three months of the year. Boo!
I have to admit that I’m really disappointed with myself. Going into the start of the quarter, I had a list of trading resolutions that I planned to carry out. I think I came short of carrying most of them out though.
Here’s a breakdown of the trades I took for the last quarter of 2012:
|10/3/2012||Ready for USD/JPY to Drop||-1.00%|
|10/9/2012||Fibonacci Setup on GBP/USD||–|
|10/18/2012||Buying on a Pullback||-1.00%|
|10/25/2012||EUR/USD: A Simple Falling Trend Line Setup||1.58%|
|11/9/2012||Another EUR/USD Short Setup||–|
|11/16/2012||EUR/USD: Time to Buy?||–|
|11/22/2012||GBP/USD: Entering on a Pullback||0.95%|
|11/26/2012||GBP/USD: Trading the Bullish Flag||-1.00%|
|12/6/2012||GBP/USD: Trending Higher?||-1.00%|
|12/12/2012||EUR/USD: Shorting at the Shoulder||-1.00%|
1. Always consider the macroeconomic environment
I never disregarded the fundamentals before pulling the trigger on any setup. However, I did not take into consideration events that might have affected the fundamental landscape keeping me from adjusting my trades accordingly.
2. Wait for sufficient confirmation
Not wanting to miss out on any potential move while I was not keeping tabs on the market, I set buy/sell orders for most of my trades. Consequently, some of my trades got triggered without the necessary confirmation.
3. Avoid going against the overall trend
Ah, I think I did a pretty good job in fulfilling this promise. The problem though is, I didn’t really feel the trend being my friend as I messed up on my trade management. Boo!
4. Get a boyfriend
Arrrgh! I wouldn’t even be surprised if Santa Claus doesn’t pay me a visit this year for not keeping my promises. I think it won’t do me any good if I come up with new ones so I’ll be sure to do my best to address these issues. (FYI, number 4 isn’t necessary because I believe fate will play its part.)
I’d love to hear about how you did in Q4 2012. Tell me all about it!
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