Sorry tor those who care but it’s taken me a week to work out where my trades failed in April, it was mixed month for instance had a good signal for a EUR/CHF trade and I’m still scratching my head because in 3/4 days in went from sell to buy to sell and sideways, and that probably was the story of the month, where trades went against me especially short trades dropping like a stone on the reverse trades that went with me seemed like treading quicksand.
It wasn’t an exciting month and seemed to be risk on. risk off as the markets went sideways especially the low volatility pairs where a quick 30/40 pips can be made and were struggling to make that before reversing.
The scores on the doors are as follows
Pip counts -190.1
Change on Account -2.6%
ROI -4.5%
Worst Trade GBP/NZD -179.9
Best Trade EUR/AUD 40.9
Performance 61%
Well here’s to May, had a bit of overhang from April but so far month is positive.
Live trades GBP/CHF short GBP/NZD short, EUR/JPY Long EUR/USD Long
Trade well people may wins be big and your losses small,
Thanks for sharing your trading experience.
Why did you pick the pair/direction in the first place?
If you can’t articulate this, you shouldn’t be in the trade for even 10 minutes.
I’m an end of day trader, so I go with a number of signals, maybe a failing trend, a strong signal which aligns trend, vector averages, and weekly and long term trends, so as a swing trader I only intend to be in the trade between 1 and 3 days I look for minimum of 30 pips and at the top end 80+.
I can take the trade just before the Asian markets open and can often be out the next day sometimes before the uk market opens.
Also I may have between 3 and 8/9 trades open at any one time.
Stops are crucial and depends on the pair and I use the ATR as my guide, although it isn’t my only calculation and this is the crux as in all trading the more aggressive I am the greater the reward can be, however with this strategy also comes the danger that I get stopped out early.
Hope this answer your question.
To give you an idea I have 2 trades in my sights tonight although I need to run a couple of checks at the moment they conform to my trading plan, but will run another check around 21.40 GMT to verify trades are good to go, the trades if your interested tonight and at the moment are EUR/GBP short, NZD/CAD Short.
These may change due to the signals I work on or added to if other trades conform to my trading plan.
However I do not give advice and never recommend trades, I will tell folk what I’m trading and if anybody does take the trades they do so at their own risk.