20% up this week

It's been an awesome trading week. I succeeded in minimizing my loses and letting some profits run. All while sticking to my trading plan, but being flexible about the implementation per trade. I do not expect all weeks to be like this, but I welcome any week like this.

Here are the results of one week of trades (Thursday to Thursday):

EUR/JPY May 17, 16:59 6,20%
EUR/GBP May 17, 14:30 -2,06%
Brent Oil May 17, 10:12 2,70%
NZD/USD May 16, 06:16 8,95%
EUR/GBP May 15, 12:42 -0,57%
EUR/JPY May 14, 14:33 2,47%
EUR/USD May 14, 12:45 1,97%
GBP/USD May 13, 21:56 -2,06%
GBP/JPY May 10, 16:09 -2,06%
EUR/GBP May 10, 01:42 4,73%


Here are some of the trades in review.

Patience Daniel-san

I got stopped out of this trade by just a few pips. All GBP crosses seem to have this problem and I will consider using larger buffers on my stops on these crosses. Anyway, I could have gotten into the trade again after the inside bar that formed the next day. But as there was no proper trend I expected this trade would go nowhere / sideways for a long time. If I would have gotten in and had been patient I would have been rewarded today, as you can see.

When you're wrong, you're wrong

Last week I was so right. This week I was wrong, twice. In the beginning of the week I got in on the break of the 0,8000 level, which didn't follow through. Then I thought the market gave a second chance of entering when a pin bar formed right on the same break level. I got in short on the 50% retrace level of the pin bar and then price just kept going up. It happens. Price was probably overdue for a correction up after trending down ever more fiercely for the last 6 weeks. Technically speaking: price was far away from the 21 SMA. I think we will see a bounce of the 0,8065 level before price can move down again.

Don't get greedy, get out... nheaa!

On Monday I spotted this trade on the NZDUSD. I planned to trade it halfway to the next support level. The next day I saw that price action looked like price would continue falling, so I decided to stay in all the way to the next support level. I made about 9% return on my equity with this trade while having an initial risk of 2% on equity. If price will break the 0,7600 psychological level I might consider going short again.

Played out nicely

Two perfect consecutive trades on EURJPY both according to my trading plan. Adding 8,6% to my equity this week.

Something new

Oanda UK offers the possibility to trade some commodities and CFDs on indices. Going through my charts I saw a nice pin bar set up on Brent Oil. I got in right at the resistance level and planned to trade down to the next support. It didn't get there in one day. I did not want to give back all my gains to the market so I moved my stop into profit just above a logical minor resistance area. I got stopped out by a few pips. If I had not been stopped out profit would have been huge. Now I made a nice extra 2,7% on equity.
Brent Oil

Better save then sorry

Same kind of setup was appearing on the S&P 500 index (SPX500). I wanted to enter as close as possible to the resistance level at 1340, so I place a limit sell at 1334,1, which is about the 68
% retrace level of the pin bar. Price only retraced by 50% and then fell like a rock. Too bad, but it's better not to win on a trade then to lose on a trade.
I currently have no open positions or pending orders.

Have a great weekend!