This is the second trading quarter that I have used my SMAs and I have to say that it’s paying off!
From the stats below 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.
|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%
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!
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