Over the past 2 wks, my account has dropped to $822. Yeah, I’m down 180. Still, I’ve learned a lot and I ended this week on a good trade. As I’ve been trading fundamentals, I have typically been entering an hour or so before news announcements, and holding them for around 2 or 3 hours before my stop loss is triggered.
I’ve traded EURUSD, GBPUSD, USDJPY, and AUDUSD. The 1st two were the most volatile, so I left them alone this week, and focused on the last two. After insane movements, and having SLs and TPs that were too narrow, I learned to spread it out more, and I also have decided to stay away from trading when news is about to drop. To stay from these SL triggers, I’m widening my bands.
So the two changes going into next week, 1) Trading between announcements, going to back to openings and closings, and 2) widening my bands. With that, we’ll see how it goes. I recall now that this was my strategy to begin with when I was successfully papertrading. Somehow, I forgot what worked for me. Build strong habits that will last you in good and bad times. I’m thankful for all the lessons I’ve learned, and I’m grateful for this time. Failures are but iterations toward success. Remember what doesn’t work and stop it.
I’ve started looking at currency indices. It’s interesting to see how and when they’re moving together and apart. Also, noticing how these ultimately create the pairing charts I trade on. Anyway, I expect my trades to probably hold a bit longer going forward. Until next time.
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