October Review

So, all data for every trade can be found here, and even thought I started with this strategy just 2 weeks ago on October 18, I found some success. Below are the results:

Pips Pips in $ Account $ Total %
 October 198.6  $   19.49  $  519.49 3.86%

So it was a pretty decent few weeks actually. 10 trades and of which 2 were busts because of stupid mistakes. First mistake was with my AUD/JPY  after I freaked out and exited a trade because of news I read regarding the pair. Stupid. Then, the second one with the USD/CHF trade and I had a TERRRRRRIBLE stop/loss in place.

Despite the limited amount of time I have to study charts, enter trades and watch them, they were all pretty quality trades. That’s going to be my biggest obstacle as I move forward.

October brought some great lessons and observations

  1. Stop/Loss needs to have enough room to breath in case of a bad entry spot (which is my next point) and be able to withstand price before it changes direction.
  2. Correct Entry Positions. This will be a battle for the next few weeks and probably months, figuring out when to enter a trade. Are my emotions in play? do I not do enough reading/studying where price and indicators stand? and are my signals actually correct? are the questions I need to answer.
  3. Utilizing more information from other charts is pretty cool figuring out where price will go and how to size the trade.
  4. I need to get out of trades sooner, with as many pips as possible (AMPAP?).
  5. Try riding the trend more, find where price is meeting resistance and support lines and catch that swing.

Looking forward to November and improving, improving, improving. Lets get after it!

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