AGold54
Education

The Gold Method Ichimoku Weekly Review

OANDA:GBPCHF   British Pound / Swiss Franc
Here is the Weekly review for the week of January 20th through the 24th:

Another strange week as the GBP pairs remained in a consolidation.

We only took one trade, which was a failed breakout on GBPAUD on Monday for a loss of -27.6 pips.

Recognizing and adapting to the current market conditions we became more selective with our trades. By doing so we avoided taking three more losses this week and you can never discount the benefit of not putting a hole in your account.

Moreover, we did have 2 trades that came close but did not reach our entry and therefore were invalidated. A huge benefit of using specific entries is that it allows us to have a small stop loss and hence a larger position based (based on risk%). The downside is sometimes, like this week, we will miss trades.

So there it is, the first losing week for the Gold Method Ichimoku since we started.

Consolidation is followed by expansion, market fact!!

Stay Green my friends,

Allen

Comments

Every system or method that exists does not have 100% success.
It's the long run that matters.
Excellent work Allen
+2 Reply
@knufl, Thanks, I appreciate it and I trust we will be fine going forward :)

Have a Great weekend.
Reply
EdnaSA knufl
@knufl, my thoughts exactly! Better safe than sorry
Reply
We sure tested our patience this week and I congratulate myself and everyone else who did it :) Besides, I have learned to observe closer, calculate risk better, and the fact that I do not have to chase the market. It will come to me, sooner or later, but my account will be in good shape :)
Happy thoughts, thanks Allen
+1 Reply
@EdnaSA, That's important and something I will discuss in the room on Tuesday. it is certainly harder mathematically and psychologically to overcome a draw down on your account.
Reply
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