Review week 25 and looking ahead at week 26

Review week 25


Result: -3,5R in 4 closed positions and one open position with a stop at +1R. So net -2,5R in 5 positions.

All losses occurred during the beginning of the NY session on Thursday as there was a huge sell off on Wall street and everyone scrambled for parachutes and turned to the USD. It's a good thing I had stops in place to bail me out. However looking back I did make mistakes entering trades. I've been coming down with the flu last week, which is actually something very unusual for me. And apparently it influenced my trading.

In the beginning of the week I just missed this trade on the SPX500 by 0,1 point.
SPX500 - long - just missed this perfect 2R trade
Truly sad, because I needed the 2R to make up for the -1R that hit me on Thursday. Price was above the MA's. The 21 SMA was sloping up. See below chart: There was an inside bar, but I entered it as a pin bar. Big mistake. In my trade journal I wrote down there was a pin bar, but the way I see it now is that the top wig is way to big.
SPX500 - long  -1R
Than there was a pin bar entry long on the GBPUSD. Here I kinda ignored that the 21 SMA was not sloping up. Wednesday I moved the stop to -0,5R, were I got stopped out on Thursday as the USD went up across the board.
GBPUSD - long  -0,5R
Than same story on the NZDUSD.
NZDUSD - long -1R
 And the other way around at the USDCAD.
USDCAD - short -1R
My trade on the GBPJPY did not get squashed as the Greenback was not involved. I left it open with a position at 1,5R and a stop 0,5R below that. And as I am writing this my stop got kicked. Markets haven't opened yet, but Oanda offers off market hours trading / pricing. OK, that will teach me keeping a position open over the weekend with a too tight stop.
GBPJPY - long 1R - stopped out during off market hours

 

 Looking ahead

Coming week I will not take any trades. I am still recovering from that flu and I don't want to be making mistakes due to not having my full wit. I will use the time to study and see how I can integrate Ichimoku Kinko Hyo into my tradingplan. The idea is to use it as trend indicator and as dynamic support and resistance. The interesting thing about Ichimoku charting is that it takes volatility into account. Below are some resources that helped me learn more about Ichimoku Kinko Hyo:



Economic calendar week 26

 
country date name
Germany 20120627 12:00:00 Consumer Price Index (YoY)
Germany 20120627 12:00:00 Harmonised Index of Consumer Prices (YoY)
United States 20120627 12:30:00 Durable Goods Orders
United States 20120627 12:30:00 Real Personal Consumption Expenditures (QoQ)
European Monetary Union 20120628 00:00:00 European Council meeting
Germany 20120628 07:55:00 Unemployment Change
United Kingdom 20120628 08:30:00 Gross Domestic Product (QoQ)
United Kingdom 20120628 08:30:00 Gross Domestic Product (YoY)
United States 20120628 12:30:00 Gross Domestic Product Annualized
United States 20120628 12:30:00 Gross Domestic Purchases Price Index
European Monetary Union 20120629 00:00:00 European Council meeting

GMT Source: fxstreet.com

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