You should be so proud of me, Samewise. I made today’s money on U/J!
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Heck yea!! Just checked my Sept stats, 79% of trades were on a yen pair. So over 132 trades, that’s 104 trades!
Last week another green week! Very exciting.
43 trades, 27 won, 16 lost. +209 pips. 63% win rate.
Of my losers, I had 8 trades that lost me more than 20 pips. 6 of those 8 were scaling back losing position trades. What did I do wrong? Over exposure to yen pairs shorts. NFP got me some bad and then some good. But I have to keep a better eye on the calendar and my open positions.
Sept was a crazy month. +10% on the account. Won 59% of my trades. 1,119,000 units traded. I think I’ll track the units traded per month every month. See how that changes.
I’ll just keep plugging along, see if I can build that balance for another month.
All time, since I started tracking on myfxbook back in March of last year, I’m still down 15%. But I really see September of 2023 as when I really started taking trading more seriously. If that’s the start date, I’m green with over a year trading!
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Also, recording that I suck at trading USD pairs. Man, I’m bad.
I missed my weekly update from two weeks ago, so here goes.
31 trades. 7 of 9 longs won. 12 of 22 shorts won. 61% win rate. +4.15% on the week.
Made +40 pips. Less pips than some other weeks, but more profit cuz I increased my average position size on more trades than normal. I think it makes sense if I’m positive for the week/month.
Closed most of my trades mid day, between noon and 1. Most wins and most losses on Wednesday
I think I’ll start putting my average trade length in to. That week, 16h 38m. I think I had some longer term trades still open I was nursing that messed the average up. Can’t really remember, but I’ll see what the next week shows.
Okay I found a chart on hold times and pairs traded.
Definitely some longer AUDJPY position I was holding.
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Okay now for last weeks stats
15 trades. 3 of 5 longs won. 9 of 10 shorts won. 80% win rate. +4.63% on the week.
Made +145 pips. Caught a 50 pip move of USDJPY with a bigger position, so that helped a lot. But overall, position size is more back to normal to what I’m used to. I think the account needs to grow a bit more before I adjust that again.
Losses were small, only about 26 pips in total. Average hold time was 13h 43m. I do sometimes hold losing positions for days and maybe a week or two which does really increase this number. Maybe the chart broken down by pair is more important than the average time for the week.
Lots of JPY last week. It was moving at the start of the week for sure. Not so much recently, so next week’s average hold time will be high with some open JPY longs.
I’m now keeping an eye on weekly H/L and daily H/L and always looking at USDX and JPYX for trends there too if any of my pairs have either of those.
So that’s 3 positive weeks in a row!
I might need to move out of USD pairs in the coming weeks. Daily movements
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13 trades. 0 of 5 longs won. 6 of 8 shorts won. 46% win rate. -0.26% on the week. Flat. That’s basically it. Not much going on since I was nursing some big losers on the yen side.
-31 pips. I was still profitable for the week, but interest cancelled that out.
My longs were all stopped out. The odd 10 pips here and there across 4 trades, so that was the bulk of the losses. Winners were between 9 and 15 pips each.
Nothing exceptional. I guess you just have weeks like that.
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Last week, wow, what can I say.
Margin call. Literally almost the last day of the month, which would have been a double-digital positive % month. I got a margin call on my account, that had several down JPY positions. I’d been doing a great job of managing them, trading with the available margin I had left, but basically just missed the broker notification after the 2 consecutive days of being at the 100% of used margin, because the most recent trade also went red…
Complete amateur hour. I knew what was going on, and I was getting ready to close that trade to free up margin, and I missed the end of day deadline at 5 PM. I just wasn’t thinking!
Completely pissed with myself. Basically went from like +12% gains for the month to down 25%. Literally my worst day ever. Don’t know what else to say other than, man what a lesson I just paid for. Never again.
It sucks to think about the time I spent to make those profits only to see them just disappear in a second.
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I am so sorry to hear that. It’s devastating after all that hard work and all the good trades you were making. I am sure I am speaking for many of the members here when I say that we appreciate you and always wish you the best. When the same thing happened to me I was able to close four trades after getting the email telling me to deposit more money immediately. Of course the four trades were heavily in the red and it cost me about a third of my account.
Since then I’ve been placing smaller lot size trades and I have to say that it takes so much stress off of trading.
I hope you come back strong because we could all see the progress you were making and the good things that we’re heading your way.
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Thanks AT. Appreciate it. But not my best time. It’s weird, because I’ve heard of so many traders that have gone through the same and I said I wouldn’t ever get to that point.
But I’ve put it in the rearview. No point being emotional about it. I wasn’t trading like it’s my job, being absolutely serious about it. It was a rookie mistake that I can learn from. I’ll stuff that deep down in my bag trading experience.
I lost a good chunk, but I won’t let that keep me down. I actually ended up trading last week like normal. My bad trades WOULD HAVE turned around.That’s like a double gut punch. But hey, it’s only money. I lost some of it, but not all of it. I’ll earn it back. I’m confident about that.
So last week.
19 trades. 8 of 9 longs won. 6 of 10 shorts won. 74% win rate. +9.1% on the week. i mean a great week. Feels really good considering what happened the week before. I’m basically back to around to my September balance.
+150.0 pips. I stuck with my GBPJPY and USDJPY, and threw in some USD pairs.
Best trades were a couple +45 GBPJPY longs. I did have 2 bigger losers, a 45 and 46 pip on AUDUSD. The setups looked right, but I got bit.
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Last week good and bad
The bad. Down 7%. Caught a giant loser.
I should have closed it way earlier than I did. I finally said enough is enough, and lucky for me, had I not, I probably wouldn’t have ended up killing another 1/3 of my account.
Other than this one bad trade, the week was actually going great!
21 trades. Won 15 out of 21. 71% win rate.
2 losses were like $2 worth. I lost a total of $150. But my worst trade actually lost me $340. So that means I made nearly $200 across the other 18 trades net ($300 in winners, $97 in losers).
So really for me it’s about managing the losers. Cutting the losers earlier. That’s my problem, I’m not doing it. The $340 trade just went too long and I kept hoping and hoping for a reversal that never came. Part of the problem is the losses from the other week reducing the room I had to play with.
So maybe I need a max cut off. I don’t want to go too tight and not give a trade breathing room. But then I don’t want to get out too far. After some amount of pips against you, you have to think this just wasn’t the right direction.
I haven’t decided what that number is.
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