On the first day, got into a trade, loss of of 6.4 pips because the trend doesn't seemed to be going my way, then up a good exit, because it went further against me.
3rd May got into another trade on USDJPY which ended in profit of about 25 pips.
4th May, got into 2 trades and loss both
5th May, which is a Friday, managed to secure a win which made my account positive.
Was on the bus home from work and took a look at the USDJPY chart, there was a sudden spike in the M5 or M1, and I decided to enter a short position. because I was using my phone, I didn't check the amount of lot before entering and entered 0.02 lot. Cut things short, it ended in a loss.
Following which, I try to keep it cool and entered a good opportunity on gold. This time was a quick loss, the moment i entered, the price spiked against me.
Feeling tilt, I entered a position at 0.1 lot. needless to say i lost it very quickly, and took a 0.2 lot trade next. it was slightly in positive and it close it earning I guess the price went up like 1.5pips?
Not satisfied with my weekly close from winning to losing, I entered once more when the gold was near the resistance. I monitored the market at M1 for about 5 hours to finally close at a positive of 9 pips? haha
Weekly summary:
Total trades made: 10
Trades won: 4
Trades lost: 6
Profit: -2.8%, -$14.05
Goal for next week
- Not more than 5 trades, be patient.
- Stick to 0.1 lot, regardless
- Was looking at the prospect of trend trading by putting in multiple lots, but let's keep that to a later period.
- Wait for set up and confirmation before entering trade.
- Higher high, lower low CLOSE
- candle must close before entering.
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