Week of May 31st – June 4th, 2021

Results: 156.6 pips gained this week (goal achieved)

Lesson(s): Using the 4hr, 1hr and 10min TFs allowed us to follow the market better and showed us ideal entries and exits.

Our trading continues to produce “successful” results. Which to us means that our net profits outpace the amount we give back to the marketplace. You’ll notice our previous post was in April. The break in posting allowed us to concentrate our efforts on adding another way to serve our traders, which we’re excited to share in the near future.

Observations: Some areas of opportunity for us were highlighted this week. We’ll continue to reduce the number of trades we take. Below, I’ll share with you the results from each trade. The multiple ins/outs is due to the market reaching a major area of liquidity in the GBP/USD and us wanting to ensure our entry is the most ideal. Therefore, second guessing our analysis, unnecessarily of course, lead to getting in a ideal locations then getting out, just to get back in. In retrospect, had we stayed in the first trade (which we closed for 2.3 pips), and exited Thursday morning it would have worked out in our favor. If you’re finding that this is the case for you, what we’re doing this coming week is to enter the trade, set the stop loss and take profit and then walk away from your device. We’ll report back next week with our results. In the mean time below are the results from each trade. The first number is the last trade taken and the last number is the first.

Trade Results: 2.7+ 21.8 + 0.4 + 3.5 + 61.5 + 34.1 – 17.1 + 23 + 1.3 – 20 + .3 – .3 – 15 + 13 + 2.9 +3.1 +.4 + 14.4 + 16.9 + 4.7 +.3 + 2.4 + 2.3

As you can see above this week 23 trades were taken. Recall that our aim is to take 1-2, possibly 3 trades max each week. This past week we’ve been focused on the Lows/Highs of the Asian market to position ourselves for the upcoming trading day.

As per usual, our trading style yields the most pips later in the week, Wed/Thur and on occasion, Fri. The 61.5 and 34.1 pips were obtained on 6/3/21. We entered short prior to the NY open, at 6:40am EST and exited after 1:00pm EST.

Next Steps: Continue with using 4hr, 1hr, 10min TFs to monitor progress of trades instead of just 4hr TF in order to remain in trades longer. Also, improve our patience. Waiting until the market finishes testing trader’s commitment, then enter the trade. At that point less, you can be 98% sure it’s going long or short…