We’re down to the last extend of 2017, comdoll amigos! Before I take any new setups, I set aside some opportunity to audit my execution in the past quarter.
Q2 2017 Forex Trades
DATE TRADE IDEA P/L IN PIPS P/L IN %
Aug 2 CAD/JPY Inverse Head and Shoulders -125 -0.31
Aug 24 NZD/USD Break and Retest -80 -0.06
Sept 7 AUD/CHF Symmetrical Triangle Canceled Canceled
Sept 26 AUD/NZD Trend Line Pullback -150 -0.50
Sept 26 Catching EUR/NZD’s Uptrend +15 +0.018
Sept 30 USD/CAD Pullback to 1.2400 -90 -0.19
No. of Trades Taken: 6
No. of Wins: 1
No. of Losses: 4
No. of Break Even Trades: 0
Win %: 25%
Normal Gain Per Winning Trade: +0.018%
Normal Loss Per Losing Trade: – 0.265%
Add up to P/L: – 1.04%
Ugh! Not my best quarter in all regards! In the wake of scratching by with a small win in Q2, I figured out how to delete this pick up and more with four losing exchanges this Q3. This additionally makes it my most exceedingly bad quarter this year! *sobs in a corner*
I figure you can state that my exchanging certainty truly endured a shot right off the bat and, while I had a pack of setups on my watch list for as long as three months, I just put orders for six of these potential plays. A speedy audit of all my exchange thoughts for the quarter persuades that I likely would’ve influenced it to out with a littler misfortune or much another little pick up had I been overcome enough to execute those setups.
My first exchange for the quarter as of now put me on the back foot as I cut my misfortunes on CAD/JPY when I thought the tech setup was at that point refuted. Thinking back, I understood that I was waaay too soon in playing my bullish Loonie inclination and most likely should’ve sat tight for a more profound pullback section, realizing that a touch of hazard avoidance was additionally in play around that time.
From that point forward, I went for a break-and-retest thought on NZD/USD as the match hinted at early an inversion from its selloff. I likewise cut my misfortunes on this one when the Treasury’s pre-decision financial refresh was taken off, yet a survey of value activity and my stop situation demonstrates that I should’ve believed my examination and kept the exchange open longer as bullish force in the end kicked in.
Next up, was my triangle breakout setup on AUD/CHF that didn’t demonstrate any drawback activity, so I just scratched off my requests. Cost made a slight upside break, yet that position didn’t generally agree with my essential examination. I didn’t generally have a craving for pursuing the move either, and cost in the end floated sideways.
I additionally had a long AUD/NZD exchange thought around that time that I thought had missed my entrance. I at first wiped out as far as possible requests at that point recognized an opportunity to enter at showcase on another plunge later on. Things being what they are, this wasn’t a smart thought in light of the fact that the combine was gunning for a break beneath help at that point!
With respect to my EUR/NZD long play, which was my exclusive winning exchange for the quarter, I believe that my long haul central inclinations for the euro and Kiwi are as yet substantial and that this setup would soon play out. In any case, I may have froze a bit when sentiment surveys recommended a lion’s share for the National Party in the races, which was a bullish situation for the Kiwi… and we as a whole know it didn’t precisely work out that way.
In conclusion, I had my USD/CAD downtrend setup that I likewise needed to close early when it got through the pattern line I was viewing. I most likely was excessively energetic, making it impossible to short this match, realizing that I had missed a cluster of chances to offer before, so I was likewise anxious when it came to trimming potential misfortunes.
What I can gather from my exchange setups this Q3 2017 is that I froze one too often when finishing off my positions as opposed to giving value a chance to move make its course. My major examination has been more regularly appropriate than wrong, yet I figure I may have miniaturized scale dealt with my exchanges as opposed to sifting through the clamor.
I figure you can state that regardless i’m endeavoring to strike the harmony between currently dealing with my positions as I’ve learned in past quarters and believing my inclinations and stop misfortunes. I’d get a kick out of the chance to imagine that I never again have any issues with stop position as I’ve had in the past and that my entrances have been pleasantly set at tolerable levels.
Aside from that, I additionally need to remind myself to be all the more expert dynamic in taking my watchlist setups, despite the fact that they for the most part take somewhat longer to appear.
For example, my bullish energy thought on EUR/NZD really influenced it the distance to up to my objective while my bearish channel short thought on GBP/CAD likewise dropped to my PT (and then some!), presumably getting enough picks up to keep me operating at a profit this quarter. Both of those would’ve been no less than 1:1 wins.
Goodness well, no utilization crying over spilled pips! Any tips for development you’d get a kick out of the chance to impart to me? As usual, I appreciate getting your criticism on my exchanging execution.