Week ahead – NZDUSD, GOLD

It has been two weeks since the last update. Berlin was great and last two weeks of trading as well. I was too lazy to write a post and it is time to step up and bring some trades. In last two weeks I have executed 20trades with a success rate of 40% but min. 1.8R if the trade was a winner. Out of that 20trades I would like to share one STUPID premature exit, one GOOD WINNER and one BE.

STUPID:

USDCAD, waiting for going LONG. Setup is ready and perfect BUT at the same TIME I am going SHORT AUDUSD. Already stupid IDEA – double exposure in progress. I should have gone 1/2 and 1/2 to each trades of my usual size. This is something what I do not usually do and I know why. I usually end up trades in the wrong order – keeping the slower trade which never reaches target and quiting the one which blasts literally second after I close it. Well in this situation I closed both trades. WHY? No reason, the finger acted on its own:) (STUPID!). With absolutely NO reason I exit the trade which did not show any sign of me being wrong. Lesson: if you cant hold two trades at the same time then don’t even think about entering into them!

WINNER:

This trade was a SCALE UP trade and I am happy about it but again – there was one hiccup I am not proud of. The fact I am satisfied about is that I wanted to trade it as Trade2Hold. Starting with 1/4 usual size with tighter SL moving to 1/2 and FULL position where the most important resistance was. Well, my limit was not hit with 1/4 size but 1/2 was. Full was hit as well but my exit on the full size was premature. At least I was able to HOLD the 1/2 pos right to the 3R. With full pos I did not like the price action but looking back it was a premature exit.

BE:

Stay only when you are correct. I have many of these trades. I need to see some action and if there is no any for a longer period of time I am out. This position would in the end, end up as a full loss.

Looking ahead I really like one pair: NZDUSD and its 7750. It is a ZONE of several S/R, 50back and from MACRO picture 50back as well holding below 200SMA H1. If there is a strong BEARISH candle I would initiate SHORT position. Another one is GOLD 1700 but there I need to see more action.

Happy trading in this upcoming week.