WED 16/03/22 TRADES:
RESULTS TO DATE: -5%
MAR 16, 2022 UK SESSION:
GBP/USD LONG
ALSO, we have increased our risk in AU & AJ
Total open risk: 6.5%
MAR 17, 2022 9:00 am
RESULTS TO DATE: +13% profits
After a very nice rally, we are out of all our trades.
I am sure there is more room for movement, but I am happy with the huge rally we caught
Now we wait.
My next trade(s) will have a 0.5% risk each only.
Happy trading
TT
PS: The “results to date” are from Monday 14 March onwards.
LESSONS FROM YESTERDAY’S WINS:
We should always analyse what we do right as much as what we have been doing wrong. I had about 8 losing trades (at 9units or equivalent of 9% of equity) from Monday14th to the beginning of day Wed 16th, on the last three trades, by investing a total of 6.5% on all 3 trades with more than half on a set up that I considered to be the “strongest” (AUD/JPY), we went from -9% to +13% in just over a 48hr period.
Upon analysis of past trades, I can see that being a bit more “strict” on which set ups to trade, finding further confirmation, we can improve our performance. I had known this for quite some years! but the truth is that “lack of patience” has gotten the better of me.
A new chapter? wait and see?
Happy trading!
Mar 18, 22 AM:
Yesterday I had a handful of little losing trades after Wednesday’s wins and a profit LONG EUR/USD trade all brought the bank back to the same level.
Today I entered this USD/JPY 1H Chart Short trade (0.35% risk) SO -0.3%
I know this pair like all other JPY crosses are in an uptrend however there could still be opportunities to trade either side since I am flat.
Post Notes: This mini dip didn’t take the last swing low on the 2h/4h charts, so now I am waiting confirmation that we can take the LONG trade on this dip.
Like mentioned above, the “best” trades are if I get confirmation of a 4hr TLS set up in the 1hr BTLS set up.
“set up inside a set up”… like the russian dolls
So as tempting as it is for me to close the current short and go long, I will await for either:
A second 4h bull candle (we already had a Bull Harami)
or
A Break of the 1hr temp down trend line
or if I want to be even stricter (not needed here if we have 2x bull candles in the 2h)
A BTLS in the 1hr chart
I will let this trade play out on its own… this is why I only entered a 0.3% risk (to be exact)
MAR 21, 2022: RESULTS TO DATE: +12.75%
EUR/USD LONG (0.5%):
POSSIBLE UPCOMING TRADES:
I am waiting for the GBP/USD and Euro50 to retrace in the 1hr chart. They both have bounced from a fib and formed a 4h bull candle, also they have broken the inner down trend line in the 1h chart, all of this to almost complete what I call “a high probability trade” (similar to AUD/JPY we traded recently).
The EUR/USD has done both too, and you could wait for a 1h bull candle at a fib (1h chart). Unfortunately I have other commitements today and decided to enter at this second step (broken 1h dtl) and not wait for the swing confirmation
Wait and see
MAR 23, 2022
RESULTS TO DATE: +13%
Unfortunately I made a few mistakes in investing beyond my usual 0.5% - 1% in a few losing trades (you can see them in the executions list which closely mirror my real trading)
Then we rebound and now I have closed them all as well as some nice TPs were hit.
I don’t regret the losing trades, this is part of the business but I do regret that I over-invested in some trying to get my bank up quicker…had I not done that, I would be up a few % points…
Greed is NOT good! unlike Gekko’s statement…
On to the next
MAR 24, 2022 UK
CLOSED AND REVERSE SOME POSITIONS
I mis-analysed the EUR/USD I believe…
UPDATED POSITIONS:
MAR 25, 2022 Net +1% locked in
Trading is really easy when the market is trending…
All my positions are at no risk with a net +1% locked in
This included our latest addition GBP/USD LONG trade below
POSITIONS:
I hope to finish the month at +25%. These are the times when we must maximize profits, I have not done this efficiently, having gotten out of the trades far too early, only to re-enter later on.
So my aim here is to stay riding the trend until the Daily Chart & 4H charts both show a reversal signal.
On my defence, some of my TPs had been hit while sleeping before I could move them further away, EJ point in case…which is still a good feeling
Happy trading!