This is the second trading quarter that I have used my SMAs and I have to say that it’s paying off!
|Jul 13||Swing Trade on GBP/USD: Short At the 100 SMA||Canceled|
|Jul 19||USD/CHF: Waiting for a Breakout||Canceled|
|Jul 24||EUR/USD: An Opportunity to Buy?||Canceled|
|Jul 30||USD/CHF: Riding the Downtrend||+0.37%|
|Aug 08||USD/CHF: Ripe for a Pullback?||Canceled|
|Aug 14||GBP/USD: Confluence at 1.5400||Canceled|
|Aug 23||Straddle Play on GBP/USD||Canceled|
|Sept 05||GBP/USD: Momentum Trade at 1.5550||+2.39%|
|Sept 13||EUR/USD: Resistance at 1.3300?||Canceled|
|Sept 20||USD/JPY: Debt Ceiling Position||+0.37%|
|Sept 25||USD/CHF: Support at .9100?||-0.51%|
|Total Gain / Loss||+2.62%|
No. of Trade Ideas: 11
Trades Triggered: 4
No. of Wins: 3
No. of Losses: 1
No. of Break Even Trades: 0
Win %: 75%
Average Gain Per Winning Trade: +1.04%
Average Loss Per Losing Trade: -0.51%
From the stats above I know three things:
1. I was too picky on placing my entry levels.
2. Sometimes one good trade is all you need to pull your trade stats up.
3. The U.S. government shutdown sucks.
Although I’m pretty happy to end up positive in Q3 2013, I believe that I still have a lot of room for improvement. I noticed that I tend to wait for SMA crossovers and Fib levels a lot, which were hard to catch especially on strong, non-retracing trends.
I also focused too much on setups that I spotted early in the week, which prevented me from taking other good setups that emerged later in the week.
In Q4 2013 I will still use my SMAs and mainly focus on trends, but I will make efforts to consider more scenarios and react accordingly. Maybe market entries in case there are new highs/lows? How about considering early exits in case the market themes have changed? I could also post more than one trade idea each week whenever I see better setups emerge after I make my pre-week posts.
That’s it for me today! What do you think about these stats? Got any tips for me?
Thanks and XOXO!