GBPAUD – BREXIT MONSTER!

2017-03-29_050820

Results: (Link to myfxbook – http://bit.ly/xeofxbook)
Today 3/29/2017: 3 Trades, 1W – 2L, 33% win rate, +32.5 pips, +0.47%
Week 13: 5 Trades, 3W – 2L, 60% win rate, +56.4 pips, +0.87%
Mar 2017: 18 Trades, 14W – 4L, 77.8% win rate, +181.3 pips, +3.5%
2017: 11 Session, 20 Trades, 16W – 4L, 80.0% win rate, +201.2 pips, +3.86%

2017-03-29_050238

I really felt good about this entry, but it just did not work out the way I wanted it to. Which is again super frustrating because pretty much every other trade opportunity I set up did work out. I continue to get beaten up on these trades and for whatever reason I can’t pick up the easy winners.

I guess all you can do is just keep at it.

So… There needs to be some introspect here. I’m starting to think that, perhaps my approach to trading is NOT optimal and that huge painful positions like this are waiting for me. I’m not sure what to change or if positions like this are just the reality of trading and there is no way to avoid. I don’t know… I will have to dive into Forex Tester a bit more to find out.

Lesson: This trade could have been avoided had I first researched the news for the upcoming week. I need to find a good solid source for that and make it part of my routine to know what’s coming up for the next week or even two.

One thing I found is Bloomberg TV which seems to have relevant commentary and helps to break up the monotony a bit.

Okay… that’s all I got for now. By miracle alone I am still on for increasing my account April 1st.

Gnight.

AUDCAD – Technically a new session – Win +12.0 pips

2017-03-27_213649

Results: (Link to myfxbook – http://bit.ly/xeofxbook)
Today 3/28/2017: 1 Trades, 1W – 0L, 100% win rate, +12.0 pips, +0.18%
Week 13: 2 Trades, 2W – 0L, 100% win rate, +23.9 pips, +0.39%
Mar 2017: 15 Trades, 13W – 2L, 86.7% win rate, +148.8 pips, +3.01%
2017: 11 Session, 17 Trades, 15W – 2L, 88.2% win rate, +168.7 pips, +3.77%

2017-03-27_212634

I really just want to protect my March. I saw the AUDCAD was at a level of pretty good resistance. I anticipate it will go down much further. Not just in the short term, but in the long term. Either way… I got the pips I was hunting. I will get better at taking larger bites out of the market when I get a bigger % buffer to work with. Trying to be extra careful in the beginning.

May trade tomorrow too. Out.

CHFJPY – Didn’t feel it, but quick 11.9 pip win nevertheless

2017-03-27_114051

Results: (Link to myfxbook – http://bit.ly/xeofxbook)
Today 3/27/2017: 1 Trades, 1W – 0L, 100% win rate, +11.9 pips, +0.22%
Week 13: 1 Trades, 1W – 0L, 100% win rate, +11.9 pips, +0.22%
Mar 2017: 14 Trades, 12W – 2L, 85.7% win rate, +136.8 pips, +2.83%
2017: 10 Session, 16 Trades, 14W – 2L, 87.5% win rate, +156.7 pips, +3.19%

2017-03-27_114120

So I set up levels and alerts on all my pairs just like I do every night. Alerts started going off right around 1am and I felt like they had more room to move because of the AHCA health care bill not going to a vote and what appears to be a little faith lost in the dollar. I figured there might be more in the tank for some of the USD based pairs.

Turns out… my bias and direction and levels were pretty spot on for about 6 different pairs. They all hit the level I anticipated and proceeded to give back between 20 and 40 pips. Instead of grabbing one of the trades that would prove fruitful… I picked the CHFJPY which gave me 10 pips right away, but then proceeded to reverse and then range and just kick me around for awhile.

For whatever reason, I cannot pick ones that just give up. The bulls kept pulling the CHFJPY up … and the bears were just able to slow them down.

I got out because I felt like the pair was going to bounce higher and I didn’t want to get trapped. I’m at the end of the month and near 3%. I want to protect this month as much as possible because I step up my account balance April 1st. I will error on the side of a small win… like my last few have been. It would really be nice to get a run away winner … sick of the run away loser!

On to the next one.

Quick Trade on USDCHF for +10.5 pips

2017-03-24_100435

Results: (Link to myfxbook – http://bit.ly/xeofxbook)
Today 3/24/2017: 1 Trades, 1W – 0L, 100% win rate, +10.5 pips, +0.21%
Week 12: 1 Trades, 1W – 0L, 100% win rate, +10.5 pips, +0.21%
Mar 2017: 13 Trades, 11W – 2L, 84.6% win rate, +124.9 pips, +2.61%
2017: 6 Session, 15 Trades, 13W – 2L, 86.7% win rate, +144.8 pips, +2.97%

2017-03-24_095519

Quick trade at the end of the week. I have been packing to move and going through things that I need to get rid of as well as selling pieces that I can’t take with me. I have been reluctant to trade while I’m in the middle of this.

It makes me realize how fragile my trading mentality really is. I think that it’s very important for a beginning trader to have as controlled an environment as possible. Trading is stressful and emotional. It pulls you in many different directions that are not familiar in the psyche and because of that I really believe having an environment that is clear of distractions and “harmonious” to ones inner neutral state is key. The thought of dealing with the stress of trading AND the stress of daily life would just up the ante that much more and create an environment for mistakes which would lead to blame which would then lead to doubt and could eventually discourage past the point of determination.

I anticipate when trading becomes systematic and there are 100′s of trades under the experience belt that it will calm down. I’m hopeful of that anyway… I don’t want to NEED a super controlled and locked down environment for forever!! Ugh…

This is just an observations in my own account, but who knows, maybe I’m just a snowflake on a warm day ;)

Week is dunzo. Looking forward to doubling my account April 1st if I make it through the last week of March unscathed.

EURUSD Came Through

2017-03-17_09.01.29

Results: (Link to myfxbook – http://bit.ly/xeofxbook)
Today 3/17/2017: 1 Trades, 1W – 0L, 100% win rate, +28.4 pips, +0.57%
Week 11: 2 Trades, 2W – 0L, 100% win rate, +31.5 pips, +0.61%
Mar 2017: 12 Trades, 10W – 2L, 83.3% win rate, +114.4 pips, +2.39%
2017: 6 Session, 14 Trades, 12W – 2L, 85.7% win rate, +134.3 pips, +2.75%

2017-03-17_09.00.45

EURUSD was nice to me last night. It had moved up considerably because of the rate hike weakness for the USD. It was at a price of resistance that I had setup prior and I felt with the unchallenged upward movement and with the area of resistance that I would jump into a quick short.

It ended up going against me about -10.9 pips before I went to sleep, but when I woke up I was in profit of about +29 pips or so and decided to take it down. There was a bit more to the downside, but I got the bulk of it and am very happy considering this was a light week in general with the whole rate hike craziness.

Done for the week and happy with the results, even if they are a little light.

NZDUSD – Going Against USD = Dumb!

2017-03-10_06.03.04

Results: (Link to myfxbook – http://bit.ly/xeofxbook)
Today 3/10/2017: 3 Trades, 2W – 1L, 66.7% win rate, +9.9 pips, +0.20%
Week 10: 5 Trades, 4W – 1L, 80.0% win rate, +42.0 pips, +0.93%
Mar 2017: 10 Trades, 8W – 2L, 80.0% win rate, +82.9 pips, +1.77%
2017: 6 Session, 12 Trades, 10W – 2L, 83.3% win rate, +102.8 pips, +2.12%

2017-03-10_06.01.13

I was stalking the NZDUSD for quite some time as it was very close to a level of exhaustion and support and near a medium big round number. I jumped in when the price was at 70% of the ATR. I watched 2 very good entries come and go where I didn’t pull the trigger when I should have. I didn’t pull the trigger because I was scared. And when I missed both opportunities I shamed myself into forcing a trade even though I missed.

Right when I put on the trade the fear of the USD kicked in and I got stuck immediately and had to play defense for pretty much the entire trade. I put on 3 total trades trying to make my original terrible entry a little better, but in the end I just had to let the market find a point to correct.

With the help of some news unfavorable to the USD I was able to get out of my position, but not before watching the price retrace -60 pips against after I was up more than +15 pips. I was distraught watching the whipsaw and was given 3 other attempts to get out with a modest gain. I opted to not take them… being greedy. And when I was finally given a 4th attempt at even more modest gains… I took it and knew that the price would likely continue going in my favor, but I didn’t have the stomach or strength for a second more.

With the rate hike looming next week and the weekend upon us, I’m just very happy to be out, semi-unscathed and able to recoup over the weekend. I have no idea what I will do next week, but as for now… Thank you Forex Gods for giving me another day to think about things and for the little bit extra rope.

USDCHF – Easy As Is Possible

2017-03-07_08.20.26

Results: (Link to myfxbook – http://bit.ly/xeofxbook)
Today 3/7/2017: 1 Trades, 1W – 0L, 100% win rate, +17.8 pips, +0.35%
Week 10: 2 Trades, 2W – 0L, 100% win rate, +33.0 pips, +0.72%
Mar 2017: 7 Trades, 6W – 1L, 86% win rate, +73.0 pips, +1.56%
2017: 5 Session, 9 Trades, 8W – 1L, 89% win rate, +92.9 pips, +1.92%

2017-03-07_07.41.03

I don’t a lot to say really. I saw the USDCHF was just over it’s ATR @ 109% for the day. It was the best performer out of all the currencies to the upside. It is moving into a range of historical resistance and there wasn’t much of catalyst to get it there in the first place so I pulled the trigger on a short figuring there wasn’t a lot more left in the tank.

It wasn’t even 30 minutes later that I was in profit beyond my goals. Like almost every trade I close out… I left a lot of pips on the table, but this is good for getting my month started as I ease back into trading.

I just wish they could all be this easy.

EURGBP – Quick sell

2017-03-06_01.44.54

Results: (Link to myfxbook – http://bit.ly/xeofxbook)
Today 3/6/2017: 1 Trades, 1W – 0L, 100% win rate, +15.2 pips, +0.37%
Week 10: 1 Trades, 1W – 0L, 100% win rate, +15.2 pips, +0.37%
Mar 2017: 6 Trades, 5W – 1L, 83% win rate, +55.2 pips, +1.21%
2017: 4 Session, 8 Trades, 7W – 1L, 88% win rate, +75.1 pips, +1.56%

2017-03-06_01.56.38

I was stalking the EURGBP for a bit. It passed a level of interest that I had setup on Friday of last week, but didn’t trade because the market was close to closing. It was between this trade and the EURUSD. I felt like the EURGPB had already moved close to it’s full ATR so early in the London session and the next level against me was about 30 pips that I would prefer to go after the EURGBP vs the EURUSD.

The trade went against me about 15 pips or so before making a nice strong move back down into profit. Overall.. I’m happy with this trade and I’m leaving my alerts on while I go to sleep.

Quick win is a great way to start the week!

Successfully Managed AUDUSD – Worst Pair on the Board!!

2017-03-03_05.35.21

Results: (Link to myfxbook – http://bit.ly/xeofxbook)
Today 3/3/2017: 3 Trades, 2W – 1L, 66% win rate, +17.3 pips, +0.35%
Week 9: 7 Trades, 6W – 1L, 86% win rate, +59.9 pips, +1.19%
Mar 2017: 5 Trades, 4W – 1L, 80% win rate, +40.0 pips, +0.83%
2017: 4 Session, 7 Trades, 6W – 1L, 86% win rate, +59.9 pips, +1.19%

2017-03-03_05.22

First off… The AUDUSD was a terrible terrible trade. I picked a pair that had it’s worst sell off since Brexit. It moved 200% of it’s average true range and caused me to be drawn down -1.51%. It also beat me up for over 24 hours. I have no slept yet. Very tired and ready to call it a day, but there were some things that were important about this trade I wanted to get out first.

My justification for taking the trade was sound… but there was the fact that my bias was to the downside as the only negative. It proved to be the only thing that mattered in the end.

This is the first trade that I’ve been in where it felt like the main currency was “dying”. Just a slow… restful… want to give up and die death. The USD was like an unstoppable force, but it wasn’t thrashing about or violent in how it moved lower… no… The USD put a sword in AUD and just slowly pressed it in further and further. I watched pips that seemed to melt away without any fight at all.

Even in the very end… there was no fight in the AUD. By some stroke of luck there was a surge and I got out just as fast as I could with a salvaged trade.

I also want to mention how well I managed this terrible trade. I averaged in to the position 3 times and I feel like each one was a very good trade to put on. Measured, patient and significant. In fact… my last trade was a hero trade where I was within the wick and price never challenged again after.

Very long and frustrating trade that I’m happy to be done with. That’s two long trade sessions in a row. I could really go for some of those easy ones. No more trading for the week, going to try and enjoy the weekend.

Gnight.

Official First Day – Win!

2017-03-02_00.50.02

Results: (Link to myfxbook – http://bit.ly/xeofxbook)
Today 3/1/2017: 1 Trades, 1W – 0L, 100% win rate, +12.2 pips, +0.30%
Week 9: 4 Trades, 4W – 0L, 100% win rate, +42.6 pips, +0.84%
Mar 2017: 2 Trades, 2W – 0L, 100% win rate, +22.7 pips, +0.49%
Total: 3 Session, 4 Trades, 4W – 0L, 100% win rate, +42.6 pips, +0.84%

2017-03-02_00.43.16

It was a long trading day. I originally wanted to buy the USDCHF. It had gotten to a level that I was interested in and pretty much met all of my criteria. It was at a big round number, my bias was that it was trending up and I felt I was buying a pretty prominent dip. So… I should execute the trade, right? No… I didn’t. And within 10 minutes it was up 20 pips. I missed.

So… I went with my second option. EURGBP. I was stalking it for a bit along with the USDCHF and when I missed the boat on the Frank I decided to go with Plan B. Well… 12 hours later… I managed to squeak out 12.2 pips.

I guess there is news coming out at 1:30am and created a super tight range with the EURGBP. I was stuck between break even and 7 pips for FOREVER.

I’m not going to complain. It was a long first day, but I was never really challenged and I made a profit. I’m done and I can move on to the next one.

I’m not sure what I could have done better on this trade other than made the USDCHF trade instead.

Gnight.