Happy monday everyone !
Had a great week last week with 3 winners and 1 loser for a total of +196 pips. Among my best weeks this year. Not so much to say regarding the trading on top of that but will be posting a couple videos later on this week and next week on a couple lessons I (re)learned the past few weeks.
Good luck in the markets this week!
Short GBPJPY from last friday
Happy Monday everyone !
Haven’t been posting any review this past 2 weeks as I’ve been really busy. Does not mean I haven’t done my review to make sure things are on track and spot potential problems or things I need to work on; I just did not had time to post the reviews online.
This week should be more quiet so I have time today to post a review and planning to get some backtesting done this week on the new strategy I’m working on, on the H4 timeframe. First pair is almost finished (have a few months left in 2016 to backtest) and will be able to start the 2 of the 4 pairs I intend to trade on that strategy. It is hard work (takes about 35 hours backtesting per pair) but results so far are promising; though will have to perform extensive crunching of numbers when I’ll be done backtesting all 4 pairs to define the final rules of the strategy to maximize efficiency.
Last week was a nice week : 2 winners – 1 loser – 1 BE for a total of +58 pips for the week. Not the best week in terms of gains, but it’s a profitable week and a good week (meaning I did not break my rules). I’d take that every week all year long : even if it’s small profit on a weekly basis, at the end of the year this potential around +30% of your equity curve (depending on the type of account and the pip value of the traded pairs); I’ll gladly take that profit !
Below are details of last week’s trades and my pip curve for the year so far. I’m still short USDCAD since the end of May and that trade is basically not going anywhere (going sideways since I entered). Quite frustrated at the moment on this pair : been missing a couple opportunities last week but since my currently opened trade hasn’t hit stop or T1 I can’t get involved yet and have to wait I get stopped out or that price hit my T1 (then rolling stop to BE on that trade and allowing me to take new trades). So I’m hoping for some strong move this week on this pair so I can move on. But even in this frustrating situation, I have to stick to my rules at all cost and not get carried away by the opportunity I’m missing.
May was an interesting month : first of all it was a milestone month as for the first time I’m hitting 2 profitable months in a row which is a great achievement and a HUGE step towards my goal of becoming a consistently profitable trader. So that was a step I did enjoy and celebrate, short enough to dig down in precise analysis to spot mistakes, improvements to be made and what went well.
Globally a quiet month : took a total of 15 trades (when I average between 20 and 24 trades a month since the beginning of the year), 8 winners – 6 losers – 1 BE; made +699 pips, lost -538 pips for a total of +151 pips at the end of the month. No mistakes were made which is great, and did miss a few opportunities (price came 2 pips or less to my entry order to reverse and hit would-be targets without being able to get involved).
Doing a closer analysis, my favourite pair (GBPNZD) was my worst performing last month (-163 pips, 1 win – 2 losses) and USDCAD was my best performing pair (+337 pips, 3 winners – 0 losers). In terms of strategies, Cypher was the worst performing (-202 pips, 1 winner – 4 losers) and Bollinger Breakout my best performing (+337 pips, 3 winners – 0 losers).
Current month is gonna be an important one as will close the second quarter and will be doing extensive analysis on the first 6 months, how it all went, how I stand with my goals and so on (not gonna be an easy assessment as I already know I’ll be coming short of some of those goals; so there will be some serious “questioning” and re-evaluation to do beginning of July).
For those wondering how the little guy is doing, he’s recovering incredibly fast and drives his wheelchair like a Nascar champion. Doctor said that by the time he’ll get used to how you control a wheelchair, it will be time to take the plaster off. Well, he mastered it in less than 5 minutes, driving it by himself, spinning around and getting in and out an elevator driving backwards !! This little buddy is blowing my mind away every time he has the chance to 🙂 I often think that I learn from my kids more than I teach them ! Time for me to up my game or they won’t be learning much from daddy ! 😛
Well, until next time, wishing guys good luck in the markets !
Happy monday everyone !
Can’t believe that we’re almost already in June. The year is simply flying by and we got to make sure we take action, EVERY DAY, to reach our goals, correct mistakes, get better and improve. Before we know it 2017 will be in the archives so we’d better make sure to cease every single opportunity coming our way to learn, educate ourselves and step closer to our goals !
Quick review of last week’s trading, which ended up pretty muc at break even (-17 pips) : had a nice loser on GBPNZD (-186 pips, nice loser because after getting on the LONG side, price went straight down without looking back, and that’s the kind of loser I “enjoy”, kicking you out rapidly so you can move on to the next opportunity. I hate it when I get filled and then price goes roller-coaster between STOP and T1, without giving me any chance to apply any on my “roll stop to BE” rules, offering other opportunities that I can’t get involved with, and then after a few days finally hitting my STOP !!! HATE IT LOL !); had a small loss on AUDCAD and then 2 nice winners on USDCAD and AUDUSD to make up most of the losses.
Overall, satisfied with the week. Will have to see how the next 3 days goes to see where I will end up the month of May, but so far I will end on the green side which will be mean 2 profitable months in a row. But let’s wait and see.
As for this week, I don’t know how much I will be able to get behind the charts to do my analysis and spot opportunities as I will be home a few days to take care of my youngest son who broke his right knee last week while playing on the trampoline with some friends.
All I can say is that I’m the proud dad of a very courageous and brave little guy !
Have a great week folks !
After a nice +222 pips last week, I’m short again on USDCAD
Hi everyone !
Just realized that I forgot to publish last week’s trading review so here it is. Better late than never 🙂
Last week was the “missed opportunities” week : on 2 occasions (AUDCAD and GBPUSD) price came less than 1 pip to my order, to then turn around and hit targets (T1 on AUDCAD and T1 & T2 on GBPUSD), making me missed about 140 pips of profit. It could have been a much better week than it has been (one of my best weeks so far this year) , but there is nothing I can do about that then just write it down, keep track of it and brush it off !!
Last week was also working week : pretty quiet at work so I could get in a bunch of unexpected backtesting hours in the bank on a new strategy I’m working on, on the H4 timeframe. As most of you know I’m trading advanced patterns on the H1 (added this week the Gartley pattern as forward testing while backtesting it as well), and wanted to add a strategy on a higher timeframe for longer term moves, that would not be as demanding as the advanced patterns in term of analysis, spotting, managing and so on …
Results so far are pretty promising : EURUSD, 3 years backtesting, +10100 pips and +103% on equity curve (starting capital of $10000 has doubled). Still have 3 years of backtesting to do on that pair, and 3 others pairs to test on that strategy (AUDCAD, GBPNZD and GBPUSD), but as I said, it looks very promising; but still a bunch of work left to do before including it in my real-time trading!
Well that’s it for this week folks. Wish you guys a great week !
Happy monday folks !
Hope you guys are doing well, that you enjoyed the weekends and took time to celebrate mothers as it was mother’s day yesterday in many places (here it’s in 2 weeks).
Don’t know about you guys but this year is a really tough one regarding trading. Looking at my equity curve for this year, simply feels like I’ve been going sideways with no real push to upside yet. My take is that I’m been strongly testing on my desire to keep working, my discipline, my patience, and how much I really want it ! Regardless of how my equity curve will end the year I know that mentally and psychology I will end up much stronger and tougher than at the beginning of the year, so it’s all worth the shaky weeks I’m going through.
Now regarding last weeks trading, we’ve seen more “normalized” behaviors in the market with more opportunities being available so it’s a good sign. Question is if I’m gonna be able to take advantage of them before the markets starts slowing down again into the summer. All I can do is stick to my plan, stick to my rules and take whatever the markets is willing to give me, while on the side, continue to work hard on developing my strategy and adding tools to my toolbox to be able to get involved with more opportunities in the future. So in spite of the negative results with last week’s trading, which got me back in the negative side on the yearly picture, I’m really satisfied of begin able to stick 100% to the plan and rules and getting a whole bunch of work done on the psychology side of things. The losses in the market are peanuts compared to the extremely valuable lessons I’m learning at the moment!
Now let’s see what this week is gonna bring, and wish you all a great week !
Happy monday everyone !
Last week was a busy yet quiet one : lots of things on the fundamental level with a lots of news release, NFP, Yellen and Draghi speaking and the final round of the French Election. Yet It was quiet on the trading level cause I only got one opportunity meeting my trading rules and ended up being a nice winning one for +115 pips on USDCAD; getting my yearly curve back on the positive side and a nice start to the month.
Been able to enjoy a great weekend with family as well. Definetely needed to rest, relax and dedicate time to my family. So been playing with the kids, fixing some things around the house with their help and enjoying a couple barbecues already due to nice weather we had over here (another story today as we lost about 15 degrees over the weekend !!)
Anyway, will be looking forward to what this week has in store, and continue to work hard on the 20.000 balls I’m jungling with at the same time ! I wish you guys the best for this week !