• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Home
  • About
  • Contribute
  • Contact
  • Resources
  • Forex Trade Plan

Finance Girl

Digestible finance news for all

  • Green /
  • Student /
  • Business /
    • / Employment
  • Shopping /
    • / Motoring
  • Home /
  • Money Advice /
    • / Making Money
    • / Saving Money
    • / Debt
    • Loans
  • Investing /
    • / Alternative
  • Travelling /
  • Retirement /
  • Property /
  • Life /
    • / Mental Health
    • / Eat & Drink
    • / Manchester
You are here: Home / Forex / Forex Trading Update May 2014 – Week 1

Forex Trading Update May 2014 – Week 1

by Leave a Comment

The markets these past few months have been pretty abysmal, with tight ranges in GBPUSD and in particular EURUSD I’ve been watching and trading other currency pairs (namely GBPCAD, GBPJPY and also Gold). I wanted to show week’s trades (May 5 – 9) as it was the first sign that the strategy I have been studying and putting into practise is slowly starting to come together. It was only the other week I’d mentioned to Sterling from DayTradingForexLive that I was beginning to get disheartened as I’d had little to no winning trades recently. He assured that the lack of volatility in the markets is highly unusual and that it will correct itself in time and when it does, I should fare well from it as I’m managing to breakeven even in such lacklustre markets.

9 trades
4 losers (avg loss $6)
5 winners (avg win $11.67)
Profit: +$33.88
Account gain/loss: +7.4%

1 week of trading, May 5 - 9
1 week of trading, May 5 – 9

What I love about this is the fact that it clearly shows how important managing risk/reward is. I never risk more than 2% on any trade but every winning trade nets me 4%, hence why I am still in profit by an impressive 7.4% while having almost 50% losing trades. Still early days and only trading small lot sizes on a $500 account but I will be increasing my account from June onwards.

One final point I must keep reminding myself is to stay humble, patient and disciplined no matter the outcome and not let my emotions cloud my judgements.

Share this:

  • Click to share on Twitter (Opens in new window)
  • Click to share on Facebook (Opens in new window)

Related

Filed Under: Forex, Trading, Trading Diary

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

CommentLuv badgeShow more posts

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Primary Sidebar

Julie Cheung / Finance Girl

Manchester blogger with an interest in personal finance, investing and mental health.




☆ Current Favourite Reads

☆ Top Finance Book Picks

   

☆ Get Cashback Shopping Online ☆

With over 3,800 retailers including M&S, Waitrose, Argos, Expedia, Amazon and eBay!

Read how I made £521 on Topcashback here.

Recent Posts

  • 3 Reasons Why You Should Consider Outsourcing Small Business Accounting Today
  • Why You Should Consider Investing in Alternative Assets
  • Top tips for students when selling a MacBook Pro
  • How to keep your car well maintained
  • How to get accepted for car finance with poor credit
  • Different Types Of Loans
  • How to Upgrade Your Home Business Without Breaking the Bank
  • Things to consider when choosing a therapist
  • How To Improve Your Financial Capability
  • How to access help if you can’t afford counselling or therapy in the UK
  • Financial Misselling: What Is It and Can You Claim?
  • Why 2021 is the best time to buy your first home

Invest in Gold and Silver

Read my post: Should You Invest In Gold?

Footer

Me and Pancake

Goodreads

Instagram

Cowdale Lime Works
💇
Copyright © 2018 Julie Cheung