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Now that another quarter has passed, it’s time for me to once again review and reflect on my performance for the past three months.

As with the previous quarters, I tried to stick to longer-term plays, so I only had seven trade ideas posted in Q2. Let’s take a look, shall we?

Q2 2018 Forex Trades
 Date Trade Idea P/L in Pips P/L in %
April 19 EUR/AUD Correction to Channel Bottom -200 -0.50
April 26 CAD/CHF Bullish Momentum Play Missed entry Missed entry
May 17 EUR/GBP Headed for Channel Bottom? Not taken Not taken
June 7 GBP/JPY Daily Head and Shoulders Open Open
June 14 EUR/GBP Trend Reversal Not taken Not taken
June 21 EUR/NZD Double Bottom at Range Support Missed entry Missed entry
June 28 NZD/CHF Range Support Breakdown Open Open

No. of Trades Taken:  3
No. of Wins: 0
No. of Losses: 1
No. of Break Even Trades: 0
Win %: 0
Average Gain Per Winning Trade: 
Average Loss Per Losing Trade: 0.50%

Total P/L: -0.50%

Performance Review:

The second quarter was a shaky one for me, to say the least. I started off on the back foot with a full loss on that EUR/AUD long position I tried to hold on to, then I was unable to make up for it throughout the period. Bah!

Trade war jitters and changing policy biases for the ECB and BOE made things a tad more complicated for the past three months as trends couldn’t seem to last. And since my trading confidence took quite a hit from the get-go, I hesitated to hop in a couple of could’ve-been winning trades.

Here’s a quick rundown:

EUR/AUD Correction to Channel Bottom: Just when I thought I caught a decent entry to a classic uptrend setup, the tide turned for this pair when trade tensions seemed to settle and euro zone data started to disappoint. Price even busted through the daily channel bottom I thought would’ve held, so it’s safe to say that I had the direction wrong on this one.

CAD/CHF Bullish Momentum Play: Although I had my one good eye on the daily uptrend channel, I waited for a momentum entry on a short-term chart but chickened out on the last minute. In retrospect, it’s hard to say how this one might’ve turned out because price did bounce off the short-term support but was unable to sustain its run as the OPEC meeting loomed.

EUR/GBP Headed for Channel Bottom: This descending channel has popped in and out of my Weekly Watch over the past months, so I thought that the test of resistance could offer a prime opportunity to short. However, resurfacing Brexit troubles around that time prevented any downside momentum so I opted to stay out. And thank goodness I did!

GBP/JPY Daily Head and Shoulders: I also thought that this reversal setup was too good to pass up, so I rushed to hop in on a breakdown. This one’s still open but in the red because of my not-so-optimal entry, and I can’t help but wish that I exercised more patience in waiting for a pullback.

EUR/GBP Trend Reversal: With ECB tightening expectations rising, I braced myself for a potential upside channel break on the rate statement. However, Draghi and his men disappointed while revived BOE rate hike expectations kept this pair moving sideways, so I stayed out again.

EUR/NZD Double Bottom at Range Support: I’m gonna chalk this one up as THE one that got away. I spotted a neat bounce off the long-term range with a tiny double bottom to boot, but for some reason I hesitated to pull the trigger. And looking at the chart right now shows that this would’ve made it all the way up to my target. Gah!

NZD/CHF Range Support Breakdown: I haven’t given up on my short Kiwi and risk-off play just yet since I opted to take this long-term range breakdown on NZD/CHF. This one’s still open and in the black, but I’m not too happy about the negative carry it’s racking up.

As you can probably tell, I’m not so proud of my Q2 2018 trade performance since I was a bit slow in adjusting to changing market sentiment and I let self-doubt get the better of me.

Got any tips for me to keep improving my trading performance for the next few months?

 

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