Starting balance: £7,005.35
Target return: £234.68 (3.35%)
Actual return: -£189.64
Closing balance: £6,815.71 ( -2.7% )
Daily Performance
There was only 1 divergence I spotted and I took it (it was a loser)
| Actual | Win Loss % | Trades taken | Win Loss % | |
|---|---|---|---|---|
| Signals | 1 | - | 1 | - |
| Winners | 0 | 0% | 0 | 0% |
| Losers | 1 | 100% | 1 | 100% |
| Still live | 0 | 0% | 0 | 0% |
4H Performance
Again didn’t perform as well as I’d hoped aiming to take 50-60% of all trade signals. But given my smaller account size I can’t afford to spread my positions around at my current risk level (0.5%). I’ve definitely been more active in the markets scanning and picking trades. I think this past month has seen a couple of strong trends (in the JPY and GBP) which have not been favourable for the strategy.
So the winners haven’t been big and the losers have been numerous.
| Actual | Win Loss % | Trades taken | Win Loss % | |
|---|---|---|---|---|
| Signals | 51 | - | 20 | - |
| Winners | 16 | 31.3% | 7 | 35% |
| Losers | 31 | 60.7% | 13 | 65% |
| Still live | 4 | 7.8% | 0 | 0% |
April Trade Log
| # | Date | Mkt | Pos | Acc Rsk | Open | Stop | Stp Pips | Tgt | Tgt Pips | R:R | Close | Fnl Pips | Fnl R:R | Days | P&L (£) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | 28 Mar 17 | GBPCAD | Short | 0.6% | 1.6829 | 1.6912 | 84 | 1.6636 | 193 | 2.3 | 1.6655 | 174 | 2.07 | 1 | 86.85 |
| 2 | 28 Mar 17 | GBPJPY | Long | 0.9% | 138.00 | 137.40 | 60 | 147.82 | 982 | 16.3 | 138.60 | 60 | 1 | 7 | 58.42 |
| 3 | 30 Mar 17 | EURJPY | Long | 0.4% | 119.41 | 118.85 | 56 | 120.86 | 145 | 2.59 | 118.85 | -56 | -1 | 2 | -28.10 |
| 4 | 03 Apr 17 | EURJPY | Long | 0.6% | 118.84 | 118.40 | 44 | 119.99 | 115 | 2.61 | 118.40 | -44 | -1 | 1 | -21.83 |
| 5 | 03 Apr 17 | AUDUSD | Long | 0.6% | 0.7609 | 0.7571 | 38 | 0.7693 | 84 | 2.2 | 0.7571 | -38 | -1 | 2 | -39.12 |
| 6 | 05 Apr 17 | Gold | Short | 0.4% | 1255.2 | 1263.3 | 81 | 1234.0 | 212 | 2.61 | 1263.3 | -81 | -1 | 3 | -24.76 |
| 7 | 05 Apr 17 | CADJPY | Long | 0.35% | 82.33 | 81.90 | 43 | 83.69 | 136 | 3.16 | 83.19 | 86 | 2 | 6 | 51.18 |
| 8 | 06 Apr 17 | AUDNZD | Long | 0.3% | 1.0817 | 1.0803 | 14 | 1.0893 | 76 | 5 | 1.0803 | -14 | -1 | 2 | -15.56 |
| 9 | 10 Apr 17 | EURJPY | Long | 0.45% | 117.70 | 117.27 | 43 | 118.45 | 75 | 1.74 | 117.27 | -43 | -1 | 3 | -32.90 |
| 10 | 10 Apr 17 | AUDJPY | Long | 0.5% | 83.223 | 82.746 | 48 | 84.457 | 123 | 2.57 | 82.746 | -48 | -1 | 2 | -33.39 |
| 11 | 10 Apr 17 | EURUSD | Long | 0.4% | 1.0585 | 1.0563 | 22 | 1.0660 | 75 | 3.4 | 1.0633 | 48 | 2.1 | 3 | 59.57 |
| 12 | 12 Apr 17 | EURCAD | Long | 0.5% | 1.4110 | 1.4084 | 26 | 1.4240 | 156 | 6 | 1.4084 | -26 | -1 | 1 | -33.15 |
| 13 | 12 Apr 17 | CADJPY | Long | 0.5% | 82.25 | 81.97 | 28 | 83.46 | 121 | 4.32 | 81.97 | -28 | -1 | 2 | -33.60 |
| 14 | 13 Apr 17 | EURCAD | Long | 0.5% | 1.4120 | 1.4084 | 36 | 1.4224 | 104 | 2.88 | 1.4084 | -36 | -1 | 1 | -36.10 |
| 15 | 20 Apr 17 | EURUSD | Short | 0.35% | 1.0759 | 1.0782 | 23 | 1.0697 | 62 | 2.7 | 1.0719 | 40 | 1.7 | 1 | 40.03 |
| 16 | 24 Apr 17 | EURCAD | Short | 0.6% | 1.4634 | 1.4717 | 83 | 1.4313 | 321 | 3.86 | 1.4718 | -84 | -1 | 2 | -42.13 |
| 17 | 26 Apr 17 | USDCAD | Short | 0.5% | 1.3588 | 1.3631 | 43 | 1.3434 | 154 | 3.58 | 1.3631 | -43 | -1 | 2 | -35.52 |
| 18 | 27 Apr 17 | GBPCAD | Short | 0.55% | 1.7485 | 1.7548 | 63 | 1.6935 | 613 | 9.7 | 1.7548 | -63 | -1 | 1 | -37.86 |
| 19 | 28 Apr 17 | GBPCAD | Short | 0.5% | 1.7613 | 1.7654 | 41 | 1.7429 | 225 | 5.48 | 1.7655 | -42 | -1 | 1 | -31.35 |
| 20 | 28 Apr 17 | GBPAUD | Short | 0.4% | 1.7285 | 1.7337 | 52 | 1.7061 | 276 | 5.3 | 1.7338 | -53 | -1 | 1 | -28.66 |
| 21 | 28 Apr 17 | EURUSD | Short | 0.5% | 1.0894 | 1.0961 | 63 | 1.0686 | 209 | 3.31 | 1.0961 | -63 | -1 | 7 | -33.65 |
Notes to review with Charlie
- Noticed clusters of set ups form (e.g. All JPY pairs setting up).
- Switching markets after being stopped out – might dilute the win rates. Need to pick the markets better first and then stick with the best set ups.
- Need to get better about my trade scans – make sure I check every day rain or shine. Still missing the odd scan and therefore missing set ups.
- Trading too many markets? Multiple signals across correlated markets. Difficult to decide which to take. Goes to previous point – I’ve ditched the NZD to help with my routine and scan times.
- Using the higher timeframes more (been too focussed on the lower timeframes) Struggling to appreciate the significance of what I’m seeing. (e.g. daily vs weekly, trendlines vs MAs, etc)
- Add to checklist – are there other divergences in play across other markets with better targets?
- Using the hourly timeframe to get better entries – not necessarily a divergence – but band play?
- Started to think about my account in terms of number of bets (like big blinds in poker).
- Emotion free trading eBook. Finding it difficult to get into a positive state having never had a run of winners.
Holiday – talk through approach for winding down trading …