takes a deep breath
Another week over and done. And boy has this trading week been crazy. So here’s the good the bad and the ugly.
Sunday,
I started out good then through it away due to impatience and eagerness to enter the market. Closed out my USD positions for mediocre profits, all went on to nice profits after I closed them, isn’t that the way of it though. Made some stupid trades trying to enter SIS trades early and lost my gains I closed out on USD pairs.
Monday,
Not much to say. None of my RTS entries hit.
Tuesday/Wednesday,
Finally got the SIS signals and did some scalping on them. Set small profit targets and reentered once it had retraced. No RTS trades again! Since the market was so quiet I figured that I’d narrow my RTS entries. Also I was up for the huge GBP rally and got in short a little early, still entered at the S1/B1 or S2/B2.
Thursday/friday,
Here’s where it got intresting. Alot of my RTS trades got hit and unlike I expected GBP had continued the rally. I got up at 4am to check my trades. I was sitting at a 15% drawdown from the 105% so a net -10%, I had 10 trades open at 1.5-2% margin each, a little more than expected. Unlike last week though I hadn’t violated my MM rules and didn’t panic. I continued to monitor closely my trades throughout the day and finally during the asian session things started to reverse. I stayed up till 5am and closed out a 13% gain, slept, and woke up to close out another 2%.
A pretty stressful week but very rewarding. I did alot better following the system and mm rules. Dale, is it normal to have 10% drawdowns each week or is that more of a once everyother week to once a month thing? I also was wondering what the ADX was on AUD/NZD , about 10 pages back you were sitting at a lose on it, when you took it.
I’ll probably get tired of doing this but here’s my trades for the week:
USD/JPY +12 pips
EUR/JPY -87 pips impulse, entered SIS early
CHF/JPY -45 pips impulse, entered SIS early
NZD/CAD +20 pips
GBP/JPY +28 pips
EUR/JPY +28 pips
USD/JPY -7 pips mistake, so exited quick
EUR/JPY +21 pips
GBP/JPY +25 pips
GBP/NZD +8 pips went against me for a few days so took profit quick on the reverse.
EUR/AUD +16 pips
EUR/CHF +10 pips
GBP/JPY +76 pips
GBP/BGN -60 pips
GBP/AUD +50 pips
CAD/JPY +20 pips
CAD/CHF +22 pips
GBP/CHF +110 pips
EUR/USD +87 pips
USD/CHF +65 pips
EUR/CAD +107 pips
Net pip gain +513(this week) didn’t keep track of last weeks pips
15% gain on the week
17% gain since I started last week
Real money too
As you can see as the week progressed and we got some volatility I started letting my trades run. Hope everyone else had a great week. Any advice or questions are appreciated.
Just wanted to add one more thing. I don’t think I’ve had a more stressfull two weeks in my life. I never understood just how much psychology played a roll in trading. It has taken LOADS of self restraint, constant vigilance, and major self scrutany to follow the systems and mm rules to a T. I would be nowhere without self correction whenever I’ve started to vary from my trading strategy. On a more positive note though It’s getting easier. This week wasn’t nearly as stressful as last.
That makes 12% a month.