Friday, October 2, 2015

WEEK IN REVIEW: 28 Sept to 2 Oct 2015

This post is kinda early as it's Friday night and the markets are still open for awhile longer, but I've closed all my trades so I may as well post my results.

This week has been profitable, 3 wins and 1 loss. Details below.


I'd opened this trade last week, and went short. My profit target was hit on 30 Sept, Wednesday. 

I trailed my stop loss as I got another entry signal on Tuesday 29 Sept. Rather than open another trade, I decided to move my stop loss closer. 

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Monday produced a fat bullish pinbar. I aimed for a reward of 0.75R. Tuesday produced another entry signal (bullish pinbar), so I trailed my stop loss up to Tuesday's low. I was stopped out on Wednesday, but because I trailed my stop loss, I only lost half of my initial risk. Overall, EURUSD price action has been quite choppy.

(click to enlarge)


Wednesday produced a bearish pinbar, and I went short on the break of the low, hoping for a reward of 1R. Friday's NFP release moved price in my favour massively, but I intervened in my trade and took profit early at 0.75R. My reason: I wasn't aware of NFP at the time I closed my trade, and thought something unannounced had happened (like a terrorist attack). Lesson: stay aware of major news releases! Silly move. I left money on the table.

(click to enlarge)


I saw a bearish pinbar on Thursday, 1 Oct, and went short on the break of its low. Due to the proximity of the 1100.00 price level, I decided to "scalp" this trade and go for a small reward of 0.5R. It was timed almost perfectly. Price reversed shortly after I hit my profit target.

(click to enlarge)


Stay aware of the timing of major news!

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