On Friday afternoon, I managed to exit my struggling short GBP/USD trade (with ~100 pips drawdown at one point) for +2 pips, taking advantage of the release of US job report. I decided not to add another short trade although there was a clear chance to re-enter short that morning. I was lucky cos' market did a U-turn soon after my exit. Late afternoon, I tried to scalp from the low of USD/CHF but didn't yield any positive result (-4 pips). Market was pretty done after that. This brings the week's total to +51 pips and a opened losing USD/CAD to be carried over to the next week.
So an overall summary for the month of August:
Total pips (5 trading weeks): 177 + 174 + 206 + 14 + 51 = 622
Worst 5 trades: 1/8 GBP/USD (-52); 22/8 GBP/JPY (-74); 24/8 GBP/USD (-61); 29/8 USD/CHF (-72) and 1/9 GBP/USD (+2 due to worst drawdown)
Worst drawdown: -105
Top 5 trades: 15/8 USD/JPY (+57) - Couldn't find one outstanding trade, but there are few others with over 50 pips.
Looking at these stats, there were just too many bad GBP trades. Perhaps, I need to throw in the towel and admit that I am no match for Mr. Sterling Pound.
1 comment:
Wow. You had a sweet August that is for sure. I'm going to start tracking my trades as well, hope I can do as well. Would you be interested in being a featured columnist for itradeallday? We are currently recruiting forex traders.
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