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We’re down to the last few months of the year, and I’m hoping to up my forex game by first reviewing my performance for the third quarter. Here are the setups I had then.

Forex Trade Ideas

DATE TRADE IDEA P/L in pips P/L in %
July 8 EUR/NZD Descending Channel -217.5 -0.25
July 12 GBP/CHF Long-Term Support +100 +0.09
July 19 NZD/CAD Trend Line Break -250 -0.25
July 25 EUR/AUD Triangle Support +20 0
July 26 AUD/NZD Triangle and Channel -125 -0.25
Aug 2 GBP/CHF Descending Triangle -125 -0.30
Aug 18 GBP/AUD Retracement Setup Not triggered Not triggered
Aug 31 NZD/JPY Double Bottom Not taken Not taken
Sept 2 EUR/GBP Channel Retracement +10 +0.005
Sept 7 NZD/CAD Long-Term Range Breakout -162.5 -0.30

No. of Forex Trade Ideas:  10
Trades Triggered: 8
No. of Wins: 3
No. of Losses: 5
No. of Break Even Trades: 0
Win %: 37%
Average Gain Per Winning Trade: +0.03
Average Loss Per Losing Trade: -0.27

Total P/L: -750 pips / -1.25%

Performance Review:

Bahh, my numbers for Q3 were much worse compared to my performance in Q2! What went wrong?!

For one, my win rate was far from impressive as it fell below 50% for the quarter. To make things worse, my winning trades were way smaller than my losers, which actually wound up taking the full loss. I can attribute this to being too slow to cut my losses and hesitant to exit early to book profits when I had the chance.

Looking at each of those setups shows that I got mostly hit by fakeouts and quick reversals so I really should’ve been more prudent in closing early when fundamentals shifted against my trade. It didn’t help that price action for the crosses was a bit choppy during the period and traders seemed fickle in reacting to short-term catalysts.

In hindsight, I probably should’ve steered clear from swing setups and focused on short-term moves instead. That way, I could’ve set slightly tighter stops that would’ve given me a better R:R and allowed me to book decent profits versus holding on to a position for too long in hopes of reaching an ambitious profit target.

If there’s anything I was able to improve on, it’s that I was able to ditch my habit of re-entering and mismanaging my risk while I’m at it. Then again, there weren’t much trends to capitalize on for the past few months. I seem to be off to a good start so far this quarter but I hope I don’t jinx it!


That’s all I got for now, forex fellas! Got any tips on how I can still improve my trading performance? How did you guys do in Q3?

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