Sunday, 18 August
A quick review as I am pressed for time.
The past week has not been all that good. The profit to date for the month is -15.3%. Some of it is due to choppy, thin August trading conditions, and some due to unforced errors on my part.
I’m in the middle of an intensive review of my trades of the past 8 weeks to analyse precisely what I do right and what I do wrong. The first conclusion that jumps at me is that I am too quick to jump into and out of trades. Of course, it remains true that most pairs are at key levels so there is a great deal of uncertainty in the markets. The SP500 is in a serious correction; the pound is at a multi-month trendline; the yen is at key support levels; the Euro is at rarefied heights; The AUD has bounced a significant bit and the decision is whether the bounce continues or fades. I’ve got to give the market some time to range and then pick a direction. Meanwhile, I have to figure out ways of making some pips off the range.
I might add the weekly trade details if I get time later.