October 06: +451 pips

Just 3 closed trades in week 4 with a total of +79 pips. On Friday, I added a long USD/CAD position in the morning session and I saw its price swiftly reversed after the disappointed GDP report. FYI, I am still holding on to this position. Moreover, I went bottom fishing in the afternoon session and picked up another 2 long USD trades (currently one at breakeven and another in positive).

So, there is it . October. A total of 124 + 136 + 112 + 79 = 451 pips. And here is the most important stat of the month: I managed to increase the balance of my trading account by 38%.

Related post: September 06: +687 pips

September 06: +687 pips

4th Week of September +253 Pips

I was extremely busy last week but still managed to find some times to trade. I reversed to a dollar bullish stance and it worked. Here are the summary of my trades (10 trades, 9 winners, 1 breakeven):

Monday: No trade

Tuesday:
Exit short GBP/USD at 1.8974 for +46 pips
Exit short GBP/USD at 1.8940 for +20 pips
Exit long USD/JPY at 116.94 for +47 pips

Wednesday:
Exit long USD/JPY at 117.48 for +30 pips

Thursday:
Exit long USD/JPY at 117.48 for breakeven
Exit long USD/CHF at 1.2454 for +14 pips
Exit long USD/CHD at 1.2482 for +17 pips

Friday:
Exit long USD/CAD at 1.1140 for +32 pips
Exit long USD/CHF at 1.2513 for +35 pips
Exit long USD/CAD at 1.1186 for +12 pips

Hence, here are the pips earned for the month of September:
Week 1: +269
Week 2: -94
Week 3:+259
Week 4: +253

Grand total: +687 pips (vs August 06: +622 pips)

Trading Review For Month Of August

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.