Partner Center Find a Broker

Now that 2017 has finally come to a close, was I able to recover from my losses earlier on? Here’s my quarterly review.

Q4 2017 Forex Trades
 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%

Performance Review:

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.

Cheers!

Happy

 

This content is strictly for informational purposes only and does not constitute as investment advice. Trading any financial market involves risk. Please read our Risk Disclosure to make sure you understand the risks involved.