Weekly Review 11th-15th March 2019

Welcome to the first review on my trading on the blog. Some of you may know the quick review I do on my Instagram posts but in here I will go into a bit more detail on what actually happened.

So… Coincidentaly we start on a busy week for me which for some reason felt a bit hectic maybe because of the first few trades happening around the same time and moving quite quickly. This is the overall summary of the week results wise.

Week 35 Blog 1

4 winners 2 losers at 1% risk each it seems a bit inconvenient that I’m only up 1.17% for the week right? Correct. I feel slightly frustrated too and this probably sums up the whole of 2019 for me.

We begin with the first trade which was a TCT on EurUsd. Ideally I wanted it to go higher before I entered but because i haven’t finished adjusting things I still had to follow my old rules which forced an entry there. It wasn’t an ideal location to get involved at but rsi but some divergence in and game me hope of a potential head and shoulders but as you see we carried straight up.

Sticking with the Euro. Above was my first chance entry. As it failed I had a second chance and this was from the Bat patern bottom left. I considered taking extended targets for T2 but decided against it due to the nature of the break of structure and pullback of the whole situation. I also accepeted it losing quite early on due to price ‘dribbiling’ up towards entry which I havent got rules around yet but have noticed it being worse results wise. Either way I just got stopped out and price may reverse to hit would be targets but it is what it is.

Now lets get into the mess of the top middle and top right trades. Firstly the top middle was a Bat pattern on the 15 min for me on GbpUsd. I’ve drawn it like that as thats how it is technically but it’s not what you notice straight away. Either way a valid bat. It hit my target 1 within 30 minutes which was nice and stopped me out within 31 minutes. There was some sort of news event in which price spiked up hit my target then reversed to hit my stop before i can move stop to break even. Technically a bad trade and thats what it is logged in as.

Even though I was actually on my computer it just happened too quickly for me. Next time I will make sure to put the alerts straight in and hope it helps but it can always happen. I can be cooking or doing whatever but if I can cut them out rather than basically getting around 0.6% from this I got almost nothing. It does some up my target 2s this year and before actually hence why they are getting ut out from 1st April,

The top right trade was not a valid cypher on trading view but was on my broker and I only noticed much later. Yes it was a winner but an uncomfortable situation to be in regardless. Another lesson to be learnt. Even though I trusted my own broker I feel like all decisions will be made out of trading view as I have notice slightly more random wicks on my broker and I have been considering changing.

The last 2 trades were decent winners and a nice surprise to hit target 2 for once. FTB target 2 havent been hit yet but for many various reasons they will remain. However from 1st April my target 1s will hold a bit more weight on my trade.

So theres the first review. If you’re wondering about 1st April. I make all significant changes every quarter hence the wait for me. Let me know your thoughts and opinions and if you want me to cover any extra things aside from this.

You can either Contact me throguh this page or through my social media. Your choice. Hope you enjoyed my first Weekly review.

Lach

Published by Lach Plays Trading

I'm a forex trader whos journey began January 2018 and has had its ups and downs but has taught me a lot about the markets and myself as a person. Documenting my journey and sharing my experiences for you to be able to learn from them and my prior mistakes. Fully transparent, not afraid to show losses or speak exactly what comes to my mind.

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3 Comments

  1. Lach, really good overview of your week. Honesty which I like; accompanied by consistency, rules based approach, and your changes/plans. Keep it up I’ll make sure I read every week.

    Liked by 1 person

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