Various Trades: - 25 pips

I'm really disappointed with my trading for this week. I followed my rules and was up 30 pips. Then I got greedy and started to listen to other's trading advice and screwed up. I traded New York which is not a favorable set up for me so far and lost 20 pips. Then when I wanted to short Euro, I shorted half Euro and half in Cable because of somebody else's idea, I got stopped out of that, and closed my Euro short that would've let me up for the day because I lost track of my trading at this point.

I also saw a long on USDCAD that I was not able to trade on for fear of continued screw ups and losing even more money.

I over traded this week. Listened to other's advice. Got greedy. Felt fear. All the bad habits of trading I experienced in 48 hours from Wednesday night to Friday morning. 

I really need to learn to trust my process, trust my set ups and follow my rules. I lost 1.5%, so I'm up 1.5% for the month on my first month trading, with a week to go. This is quite possibly better than most people but it's disappointing. The main thing that drives me crazy is listening to somebody else's trade. That never works because you don't know the set up, you don't know when to cut it, what to look for. 

Also, Euro just broke 200 points higher on the election news to open the week which would've been my play for this week but I have no idea what it'll do now.

Moving forward I need to follow my rules, that I even wrote down on Tuesday in my notebook. I'm quite disappointed in myself but I think this will be a learning experience.

Long EURUSD +30pips

Wanting to get back my losses on NZDUSD from last week, I saw a potential set up on EURUSD.

I figured USDX would fall from current levels and Euro might be a good buy, with highs waiting to be taken out.

 I was in and out of the trade while I was sleeping and made back a bit more than my loss from last week with half the position size. Overall, I could've waited for more now that I know what I'm looking for better, but anyway, a good trade for me.

 Back at +3% for the month with a week to go.

Long NZDUSD -10 Pips, 0.3 Lots

I had been expecting the dollar to continue lower all week as previously  noted. Therefore, I was looking for foreign currencies to rally. 

Looking at all possibilities, I thought NZDUSD gave me the best risk/reward so decided to place a trade here. I set an entry of 0.6940 looking for 0.6970, and a risk of 10 pip stop only.

The trade moved a bit in my favor but just continued down throughout the day. The trump speech in the afternoon finally got this moved but I'd been long stopped out of it.

Overall, I learned that this Easter week is not good for trading as the movements are not clearly discerned.

 I'm not too concerned about the drawdown as losses are expected, and I had become too complacent with the trading. Looking forward to getting on the positive side next week once again!

GBPUSD Short +12pips 0.1Lots, +13pips 0.2Lots

I was looking for a short on the cable thinking it'd run the stops accumulating under the consolidation happening and that USDX still had room to run to 101.

I set my order and I got about 30 pips but wasn't moving much after that. I wanted to get 60 pips and get a 3R trade, so I held. The trade started going downhill and eventually closed it.

I'd rather get my 30 pips and be done, than have to sit through hours of price not exactly moving or going sideways, especially in this market. If we had big ranges I'd be inclined to wait through New York session but I'm not at that level yet. I'd rather stick to my trading rules for now and then learn more as I go along.

 I was also looking for EURGBP to go higher from here, but that never materialized.

Despite some mistakes with position sizing and profit taking, the account is still growing at a reasonable rate. I want to make 6% monthly, and in 7 weeks, I'm at 9.29%, which is on pace to achieve those results.