GBPUSD broke the bullish wedge

long eurusd

long SPX

rebuy GBPUSD

the structure itself (it was respected several times)

SL hit on EURUSD and GBPUSD : -50, -50

compensate with profit on SPX and USDJPY (respectively 1:6 and 1:2) : +75 , +50

AB: 2946 + 25 = 2971$

sl hit on gold : - 50

AB: 2971 - 50 = 2921$

manually close AUDUSD

AB : 2921 - 25 = 2896$

you ain't wrong

sorry

time to take profit before market close

losing trade on USOIL: -50

Take half on EURUSD/GBPUSD and AUDUSD (1:1 on each) = +75

AB : 2896 + 25 = 2921$

lesson learnt this week :

don't overtrade and don't revenge trade. For exemple when you have a setup and it fail don't force the market. The better is to wait for 1 or 2 day to retrade this market. (exceptionally it's possible to retry, but that cannot be an habit)

In this case I forced the short on USDJPY and on Gold, I was retrying 3 times on each of this market.
that's the equivalent of 300$ (50$ risk per trade).
if I didn't forced like this maybe we was actually with 3100$ on AB and almost reached the weekly goal performance

So it's good to remember this next time the market don't go into the setup

recap of all the lessons I learnt during this 45 days

1) maximum loss reached per day (5% or 2,3 trade loss in a row)= no more trade

2) adding to winners and don't touching at losers until it goes to your SL, dont readd to losers. only readd to winners

3) dont look at the price when you take a trade, just go to look other market or doing something but don't stay fixed on the computer, except the trend is going really fast on your direction (in this case you can take half and readd)

4) don't chase the price (wait for a real opportunity, a real good plan), exclude fight the trend (don't force the market)

5) having a sl of 200 pips is the most profitable on forex. on indices and commodities it's between 5 and 7 (the most profitable)

6) no emotions, you win it's good, you lose it's bad

7) don't retry a trade on the same market immediately after a loss (not trading is trading too, because you don't lose: of course you are here to win, but concentrate on not losing. by compensating loss with win and having good discipline)

8) trade like a robot (no bad / sad mood, no angry). the best is to trade when you are calm and relaxed

9) be satisfied with the win you got on the day

For the emotions, I mean it's totally normal to have emotions. but when you are trading it's better to avoid it and stay focus on your goal.

Of course your emotions will get out with someting else if you look something funny or make sport , or you are with friends or family. but I repeat in trading you have to have your eyes fixed on your goals. don't take it personnally if you take losses , it's normal too. don't overreact to win or loss.

And if you win big, prefer to be happy outside of the market ;)

have a nice week end

all the trade possible for this monday

short audusd, gbpusd and eurusd and long USDCAD

plan changed for oil, buy limit at 58.80

loss on USDJPY, USDCAD,OIL and GOLD : -224

win on EURUSD , AUDUSD, and GBPUSD : +90

AB : 2921 - 134 =2787$

reshort oil

take half on first SPX trade : +41

AB : 2787 + 41 = 2828$

reshort GBPUSD and EURUSD, sl with same configuration as always

yesterday loss on GU and SPX: - 116
take half of AUDUSD , we should reequilibrate with the possible future winning of the other acount : + 58

AB : 2828 - 58 = 2770$

just 600$ more on the 31 and the performance expected will be reached, I hope that will happen

take half on USOIL : +139
and loss on gbusd : - 58

AB : 2770 + 81 = 2851$

long GU

manually close EU and take the other half of AUDUSD : - 10, +44

AB : 2851 +34 =2885$

short XAUUSD

Next week we will test to add a strategy to our panel (the aim for this is to know where you have the more consistent entry point and the most consistent exit point)
This strategy seem really powerfull in backtest.

Let me explain how to use it. First you have to configurate two EMA's (one on 10 and one on 20 and make it bigger to see the crossing point)

The principles is to use the same strategy as always to make our plan (and know the trend) but now we will readd when the price touche the ema's and rebound on it. It's just simple like that (and the best is to accordate it with pinbar/inside bar/engulfing bar), that's for the entry points to duplicate the winning rate and make more money.

Now for the exit point (and possible trend reversal), we just wait for price to close below both EMA's , then they have to cross and theprice have to pullback and confirm the temporal trend reversal. In this case or in a case of a gap in the contrary of our position, we can take all the profits floating. and try to change direction of our trade

That's simple like that. but this strategy isn't to determine long term trend, only for mid-term. I repeat I will use it only to add some position more (with more safety/security) and to exit all the profit when the trend seems to change.

The reason for me to implemente it , it's symply because I have problem to see where the trend could reverse. and there is time where the price reverse strongly and take a lot of the profit.

this method seems to work on all timeframe but for me the most profitable is 4H and daily

Loss on : XAUUSD, USDCAD, EURUSD, GBPUSD and SPX : -58 x 5 = -290

that's a lot of losses.. that's hurt..
we can compensate a little by taking all the profit on USDJPY = + 60

AB : 3037 - 230 = 2800$

It's ok because the account balance is stagnating a little but no problem that permit me to see my errors on certain aspect.
We still have a 100% total groth since the beginning of the month because we begun with 1450$

And the month isn't finished