Hello everyone,

It’s been a very active end of the week after a quiet Monday, Tuesday and Wednesday when I found no decent trades at all. See, being patient and waiting for the ducks to line up before pulling the trigger does pay off. In my opinion, it’s crucial for long term Forex trading success to stay sidelined until a decent setup pops up. You don’t want to be taking half-assed trades guys, wait for the A-trades and your pip-count will slowly-but-steadily move forth.

Anyway, enough of the rambling Hector, let’s get down to business: Three trades taken between yesterday and today. Yesterday, I entered short on AUDNZD in what it seemed a nice intraday swing trade after a reversal formation in the direction of the main trend. Price moved about 15 pips in my direction but then it meandered sideways for the rest of the day. There were clear signals that this bad boy had lost momentum so I decided to tighten down my stoploss and switched off the trading station for the day. Well, today Friday when I woke up I wasn’t surprised to see my stoploss having been hit throughout the night at -17 pips. That trade had turned nasty at some point mid-way through and via price reading and in-trade management I managed to cut the loss to only -17 pips, so I’m pretty happy about that. Not all trades are winners. In fact, as I say on the course, one of my Golden Rules of Sensible Trading is that your job as a trader is not to score a 100% win/loss ratio but rather to cut your losses small; if you do that, your winners will take care of the rest in the long run.

The first trade I took this morning was a London Open Breakout trade on EURCAD. It had been consolidating within a triangle throughout the whole Tokyo session and eventually it broke down in the direction of the overall trend (I love those 3 SMAs!!!) as Euro-volume showed up in the markets. Stress-free trade that moved in my direction since the very beginning until my final target at +61 pips.

Finally, I took a position trade off the Daily chart on EURJPY which is still open and will remain open over the weekend. It seems like the Carry Trading theme is still strong and rock’n'rolling, so I have hopped onboard with the flow. At the time of writing these lines, it’s sitting at +89 pips and rising. Normally, I wouldn’t have entered this trade (EURJPY) as I already had a EUR-related trade open (EURCAD) in order to not double-expose myself to any possible EUR-volatility, but since this is a long term trade I saw no incompatibilities between the two of them.


This week’s results:

• Closed trades: AUDNZD -17 pips and EURCAD +61 pips
• Open trades (as of time of writing these lines): EURJPY +89 pips (opened today) and GBPUSD +202 pips (opened 19th of June)

June’s results:

• Closed trades +246 pips
• Open trades (as of time of writing these lines): +291 pips

Anyway, here below I upload videos of the three trades reviewed in this entry.


Have a nice weekend everyone!