Forex Day Trading EURUSD Weekly Review - Learning To Focus

Monday are Friday were decent for me, while Tuesday, Wednesday, and Thursday were grinds with not much movement during the two-hour window trade (8:30 to 10:30 A.M. EST). This is my breakdown from the trading week of Jan. 11 to Jan. 15, 2021.

Totals for this week:

  • +7.29R (+12.86R from last week).
    • “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 /24 trades = 37.5% win rate (47% last week).
  • Potential 17.25R. In other words, my mistakes cost me about 10R this week alone..
  • 42% efficiency (7.29 / 17.25). This shows that the lower profit this week, and my low win rate were due to mistakes on my part, and not market conditions. 58% efficiency last week.
  • Reward to Risk: 2.289 / 0.8 = 2.86 This definitely saved me this week with the low win rate (2.77:1 last week).
    • 2.4 + 2.5 + 1.3 + 2.15 + 2.21 + 2.52 + 2.49 + 2.5 + 2.52 = 20.59 /9 = 2.289.
    • 0.77+0.98+1+1.14+1.11+0.15+0.88+0.94+0.86+0.91+1+0.5+0.5+1.28+1 = 12.02 / 15 = 0.8.
  • Trades not taken: 2.5 + 4 = 6R.
  • Trades taken that shouldn’t have been: 1.1 + 0.94 + 1.41 = 3.45.
    • Missing trades cost me more in lost profit than bad trades taken. I can afford to be more aggressive and make sure I am in those trades.

Strategy Totals

These are optimal results, 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 and profit: 8.91R (-0.77 + -0.98 + 2.4 + -1 + 2.5 + 1.3 + -0.15 + -0.86 + 2.21 + -1 + 2.5 + 2.52 + -1.28 + -1 + 2.52).
  • Snap Back Strategy trades and profit: 2.62R (-1.14 + 2.15 -0.88 + 2.49).
  • Double Pumps Strategy and profit: 5R (2.5 + 2.5).
  • Squeeze plays: -0.5R.

There was a lack of the Snap Backs, Double Pumps, and Squeeze Plays primarily because much of the week lacked strong trending movement during my hours of trade.

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Disclaimer: Nothing in this article is personal investment advice, or advice to buy or sell anything. Trading is risky and can result in substantial losses, even more than deposited if using ...

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