Weekly Review July 13, 2013

Saturday, 13 July

Closing levels of open positions:

EURUSD: short at 1.3035, closing level 1.3067 (-32 pips)

USDJPY: long at 99.14, closing level 99.19 (+5 pips)

GBPUSD: short at 1.5170, closing level 1.5101 (+69 pips)

AUDUSD: short at 0.9109, closing level 0.9038 (+71 pips)

As the past few weeks demonstrate, my trading has improved tremendously. This time I have a gut feel that it is not simply due to luck (although luck is a factor) but also my execution has improved. For example, I’ve been able to take losses and execute the signal trades quickly as in the GBP trade where a losing trade of -153 pips was flipped into a winning trade of +172 pips followed by more winning GBP trades totalling almost +500 pips. In the past one year the inability to take a loss has been my biggest downfall. I still have to be alert for this weakness, but I think I’ve made good progress towards eliminating this weakness from my trading. This improved execution ability should be the final brick in the foundation of good trading technique which I’ve been building for a long time. Financial success will be built on this foundation.

 

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