Starting off this week’s PnL for triggerpoint with the wins, as this week’s highlight was a high percentage of wins ONLY when triggerpoint 5 criteria were followed strictly.
9 losses 38 wins.
win percentage ~80%
Things to considered would be to milk more pips when with winning trades. I reckon $$ generated will be 2 x more if certain trades were to be allow to run more.
– Will be considering setting arbitrarily pips to tp, maybe on average 70 pips.
– There are also several trades which were 5 criteria met and WTT yet only small position size dedicated to the trade. Wrongful gauge of risk.
As reviewed in previous week’s analysis , I am not so bothered by the lesser RRR, but i am worried about the flagrant manner in which profits are leaking out due to reckless losses.
Upon review, these losses were once again due to reckless trades in which 5 criteria were not fulfilled. 5 criteria is really high probability but shit alwayshappens when rules are not followed.
Some of the mistakes made:
1.Traded positions during BOC Poloc speech, hence entered on spike and no 5 criteria observed.
2.NOKJPY trade was finally SL but the trade was entered dur to broker spread. I need to be wary of this potential pitfall that comes along with stop orders strategy.
3. GBPNZD and NZDUSD had to partial cut early as risk was piling. In retropsect, it was a sort of “smart alec” decision to enter early on m15 setup, when h1 setup had not even began to mature. ( will do a 2nd post on this)
4. Not too sure about hit rate with Buy High Sell High method; XAUUSD BSH exemplified this. Perhaps it will be better to trade of BHSH by combining with 1234 to produce better results. More on this.