2023W29 Review

Win rate of 82.9%, +270.7 pips, equity gain of 30.9% in 41 trades.

It feels like a repetition in terms of my analyses and execution, i.e. no new elements added or significantly changed. So the fact that it still gives a decent return is actually a good news, indicating the strategy and the method is serving me well. One change is, I started trading 0.6 lot instead of 0.5 from Tuesday evening, in view of my account size that's now over $6200, to me that's quite remarkable considering it was as low as 2200 just 4 weeks ago. 

I stick to the approach of aiming for 15p as standard, it worked perfectly fine, at least in this week. ALL the winning trades I took there were less than 15p (because I closed them early due to fear) would have become full 15p wins, although there was at least one that I cashed out near the max, like this one on Friday afternoon. With my current ability, it's good err on the side of caution.

Quite a lot of range plays this week, and did give me quite a few quick and repeated returns like this one below on Tuesday night. I shorted 4 times with profit around 1970 major resistance level. What I didn't realize was, the fact that I was shorting at higher and higher levels (and higher lows) might have been a signal of bullish build up, so I ended up with a full loss after that.

Luck was certainly a factor. Right after the loss above, I entered a short again, thinking the market had moved over 220p, above the ATR. However the trade wasn't smooth. With a 1.2 lots position, I eventually moved my SL to just over 100p, some sense of gambling there! It turned out to be a win overnight, after nearly 12 hours. The positive short swap added to the profit, but it was a big risk taking. The trade was nearly -80p at the worst point.

Overall, a very good week, with some good learnings.

Grade: A- (the minus was for the mindset instability)

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