I've just notched 104 trades now, and spent tonight going through my trading history. I'm always looking at ways of improving the quality of my trades, and checked to see how I performed trading the major pairs (EURUSD, GBPUSD etc) versus the crosses and exotics.
Performance of the Majors
Number of trades: 22
Profit factor: 1.79
Performance of the Crosses and Exotics
Number of trades: 82
Profit factor: 1.03
I also looked at my performance on JPY and non-JPY crosses.
Performance of JPY Crosses
Number of trades: 20
Profit factor: 1.35
Performance of non-JPY Crosses
Number of trades: 62
Profit factor: 0.92
Combining the results of the majors and JPY crosses...
Performance of Majors and JPY Crosses
Number of trades: 42
Profit factor: 1.55
Basically, my trades on non-JPY crosses and exotics have held me down.
So where to from here?
I'm still deciding whether to drop more pairs. I've already dropped the exotics due to widely-fluctuating spreads and gaps. After over 100 trades, it appears I have a good edge trading the majors and JPY crosses.
Interesting results. And this is why it's important to keep a trading journal. :)