week20 review All guns firing.

this week came out all guns firing.

Load up huge part of margin on EURAUD and GBPAUD.

Took profit on a lot of positions which were jump positions as I have very convinced off the downtrend.

General play was short on rally, until late Thursday when the down momentum seemed to have slowed down.

EURAUD : multiple > 10 TP positions

GBPAUD : multiple > 5 TP positions , but currently a good portion is in otm. Waiting for trend resumption.

USDJPY: +35 gd n rapid play off a h4 shooting star with story

CADJPY : + 40 x 2 similar play off a h4 shooting star

NZDJPY : -60 only consolation is relatively small pos size

GBPJPY : -200 only consolation is that it is relatively small pos size. Was able to tank damage with x 2 pos with GBPAUD

NZDUSD : -60 stopped out when I placed Stop Loss. On hindsight, I did not do a good job in identifying the SL level. I can always do better.

Right direction , wrong timing.

GBPNZD : +40 , +40 rapid entry n TP.

GBPCAD : + 40 , +2 BE big pos hit on Thursday, the usual style after all news done and direction is clear. Looking for 2nd reentry . big trade.

AUDUSD : + 18 , +7 managed to exit longs since price was stagnant. Freed up margin to do other trades

AUDSGD : + 30 A trade position size but felt the stagnation and therefore took profit when the chance presented.

SnP : + $13 x 3. Another good and rapid trade. Banking in profit is the most practical for indices.

NZDCAD : 1234 wr4b invalidation bull trap in progress

CHFJPY : +60 early profit, looking for reentry

EURJPY : -20 otm trade in progress

early week Monday: mean reversion trades

USDSGD : +15 , CHFSGD : +7 , EURSGD , + 8 working out some theories

GBPUSD : counter trend trade anatomy play : +33 towards right shoulder

AUDNZD : 1 pos in progress for ihs play

EURGBP : -17 not sure of this play so i exited.

This was one of the better weeks as I was reactive towards the market and trade 80% of what I saw. The other 20%, i was rooted as I still had positions that went against what I saw.

Howver, I am encouraged by this reactivity. I was at performance peak on Thursday afternoon in NUS library when I felt the ‘flow’. I was totally in the state of trading that whatever signals I saw I trade it and positions were TP-ed within few hours. I must learn to replicate this state of mind.

I also took the trouble to remember the previous downfalls when I was on a roll and proceeded to build positions on my initial profits, which led to a massive wipeout of profits in 2013 when prices reversed.

In lieu of this, I have withdrawn bulk of the profits from my capital and put in the bank.

1) Maintaining the same account size will keep my head cool and induce me to believe that i need to protect my original capital. account growth will have to come at a later stage.

2) The consistent withdrawal of part of the profits, also builds a positive and winning psychology for me as seeing the monies in my bank account is affirmation of the ability to be winning constantly from the market. Building up of the account will come probably in Q3.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s