Monthly Review – April 2017

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)

ActualWin Loss %Trades takenWin Loss %
Still live00%00%

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.

ActualWin Loss %Trades takenWin Loss %
Still live47.8%00%

April Trade Log

#DateMktPosAcc RskOpenStopStp PipsTgtTgt PipsR:RCloseFnl PipsFnl R:RDaysP&L (£)
128 Mar 17GBPCADShort0.6%1.68291.6912841.66361932.31.66551742.07186.85
228 Mar 17GBPJPYLong0.9%138.00137.4060147.8298216.3138.60601758.42
330 Mar 17EURJPYLong0.4%119.41118.8556120.861452.59118.85-56-12-28.10
403 Apr 17EURJPYLong0.6%118.84118.4044119.991152.61118.40-44-11-21.83
503 Apr 17AUDUSDLong0.6%0.76090.7571380.7693842.20.7571-38-12-39.12
605 Apr 17GoldShort0.4%1255.21263.381 1234.02122.611263.3-81-13-24.76
705 Apr 17CADJPYLong0.35%82.3381.904383.691363.1683.19862651.18
806 Apr 17AUDNZDLong0.3%1.08171.0803141.08937651.0803-14-12-15.56
910 Apr 17EURJPYLong0.45%117.70117.2743118.45751.74117.27-43-13-32.90
1010 Apr 17AUDJPYLong0.5%83.22382.7464884.4571232.5782.746-48-12-33.39
1110 Apr 17EURUSDLong0.4%1.05851.0563221.0660753.41.0633482.1359.57
1212 Apr 17EURCADLong0.5%1.41101.4084261.424015661.4084-26-11-33.15
1312 Apr 17CADJPYLong0.5%82.2581.972883.461214.3281.97-28-12-33.60
1413 Apr 17EURCADLong0.5%1.41201.4084361.42241042.881.4084-36-11-36.10
1520 Apr 17EURUSDShort0.35%1.07591.0782231.0697622.71.0719401.7140.03
1624 Apr 17EURCADShort0.6%1.46341.4717831.43133213.861.4718-84-12-42.13
1726 Apr 17USDCADShort0.5%1.35881.3631431.34341543.581.3631-43-12-35.52
1827 Apr 17GBPCADShort0.55%1.74851.7548631.69356139.71.7548-63-11-37.86
1928 Apr 17GBPCADShort0.5%1.76131.7654411.74292255.481.7655-42-11-31.35
2028 Apr 17GBPAUDShort0.4%1.72851.7337521.70612765.31.7338-53-11-28.66
2128 Apr 17EURUSDShort0.5%1.08941.0961631.06862093.311.0961-63-17-33.65

Notes to review with Charlie

  1. Noticed clusters of set ups form (e.g. All JPY pairs setting up).
  2. 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.
  3. 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.
  4. 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.
  5. 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)
  6. Add to checklist – are there other divergences in play across other markets with better targets?
  7. Using the hourly timeframe to get better entries – not necessarily a divergence – but band play?
  8. Started to think about my account in terms of number of bets (like big blinds in poker).
  9. 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 …

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