EURUSD Day Trading Strategy Week In Review (Feb. 1 Thru 5)

A good week for EURUSD day trading. There was lots of opportunity during the 2 hour window that I trade (approximately 8:30 to 10:30 AM EST). I trade on a 1-minute chart and use the strategies discussed in this review. The week’s charts with the trades are below.

Totals for this week:

  • +18.06R
    • “R” is a standardized risk amount. It could be 1% of the account, 0.5% of the account, or any amount you choose based on your position sizing method.
  • 9 wins /16 trades = 56% win rate
  • Potential was +27.56R. In other words, my mistakes cost me about 7R this week.
  • 65% efficiency (18/ 27.56)
  • Reward to Risk (based on all potential trades):
    • Winners: 2.5, 2.5, 2.5, 2.46, 2.5, 3.36, 2.25, 2.47, 2.73, 2.5, 2.5, 2.04, 0.05
      = 30.36/ 13 = 2.335
    • Losers: 1, 1.12, 0.98, 0.13, 1.2
      = 4.43/ 5 = 0.886
    • 2.335 / 0.886= 2.635
  • Trades not taken: 10R.
  • Trades taken that shouldn’t have been: 0.87R

Strategy Totals

These are optimal results for the strategies, including trades I missed and excluding trades I shouldn’t have been in. This is so I can ascertain over time which strategies are working the best and producing the most profit potential.

  • Rounded Tops and Bottoms strategy profit: +11.57R
    (-1, 2.5, 2.5, -1.12, -0.98, 2.5, 2.5, 0.05, 2.5, 3.36, -1.2, 2.46)
  • Snap Back strategy profit: +2.04R
  • Double Pumps strategy profit: +10.07R
    (2.47, 2.73, 2.5, 2.5, -0.13)
  • Double Pump Variation strategy profit: 2.25R

No squeeze plays or triple pumps this week, both of which are quite rare.

Daily Charts and Trades

Charting provided by TradingView.

My Focus for the Upcoming Week

This week saw my old nemesis the ‘missed trade’ return. Missed trades cost me about 10R this week. I made some pretty long notes on my chart on Friday, because I noticed almost a sense of laziness when it comes to skipping trades. I will often agree with a reason for not taking a trade without further probing. I need to go through my full assessment of a trade before deciding not to take it. I will need to write my thoughts down on this and see why it keeps popping up.

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A lot of these stats you can track in the free and downloadable forex day trading log (Excel ...

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