Now that 2017 has finally come to a close, was I able to recover from my losses earlier on? Here’s my quarterly review.
|Date||Trade Idea||P/L in Pips||P/L in %|
|Oct 19||EUR/AUD Ascending Triangle Breakout||-250||-0.50|
|Nov 24||CAD/CHF Range and Triangle Breakout||-75||-0.25|
|Dec 4||AUD/CAD Descending Triangle Pattern||+50||+0.03|
|Dec 21||AUD/JPY Long-Term Ascending Channel||+90||+0.20|
No. of Trades Taken: 4
No. of Wins: 2
No. of Losses: 2
No. of Break Even Trades: 0
Win %: 50%
Average Gain Per Winning Trade: +0.125%
Average Loss Per Losing Trade: -0.375%
Total P/L: -0.52%
Still not a stellar quarter for me, but a bit of an improvement from the previous one!
I was off to yet another shaky start, scoring back-to-back losses with my CAD/CHF and EUR/AUD trades. TBH, I’m still not over the EUR/AUD triangle breakout since I actually set my stop too tight on that one and failed to stay in the trade for much longer.
I guess you can say that I was playing it safe with that breakout play, knowing that I wound up with a full loss on my first CAD/CHF short. I got wiped out on a fakeout with that one, and it took me a while before deciding to cut my losses.My third play fared a bit better as I decided to exit quick when the tide turned against me. Unfortunately, I only risked a small position on that winning setup since I was still trying to revive my trading confidence back then.
Lastly, my AUD/JPY long play has proved to be a solid one since I caught a bounce off the long-term ascending channel but still could have improved on my entry a bit. I’ve rolled up my stop to limit exposure to major events as well then locked in my gains just below the 87.00 mark.
As in Q3, I had several viable watchlist plays that would’ve turned out quite well had I summoned the confidence to hop in. I had a simple NZD/USD pullback play to start but completely missed the boat when price didn’t pull up as high as my entry zone.
The GBP/NZD bullish continuation pattern was another tech play that lined up nicely with my fundamental analysis, but I once again hesitated to jump in. I had my eye on the EUR/NZD rising trend line for the past few months but missed the opportunities to go long on the dips. Bah!
I also missed the nice break-and-retest play on GBP/CAD’s inverse head and shoulders breakout. Although I had the trade idea up and felt confident in my analysis, I chickened out at the last minute for fear of logging in another loss.
I know, I know… There’s no use crying over spilled pips! But I really gotta remind myself that I’m able to spot decent setups that would mostly work out in my favor, providing I manage my positions right. I may be paying attention to too many market factors all at once that I’m suffering from “analysis paralysis.”
Any tips for improvement you’d like to share with me? As always, I enjoy getting your feedback on my trading performance.
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