The Gold trade from last week looks pretty good with very solid bullish momentum. The target is around 1282, giving us a three to one prospect in terms of R:R.
Well the time has come to look back at 2015 performance and analyze the year.
First of all a huge satisfaction because this is my first winning year, standing at +33%, with five winning months and two losers. I only traded 7 months this year since I had a move that took me out of markets from July to October.
So the first thing I can say is that the system I trade (explained here) is capable of producing good returns. I have stuck to it for the whole year, and as shown in the stats below my risk management is probably the single most important element of the year with a R:R standing at 1.9 (my average gain was close to twice my average loss).
MyFxbook verified statistics
My win / loss ratio stands at 43% which is actually quite good, since when you combine it with strict money management the maths just play out.
I have to say that this blog has helped me tremendously since it has given me discipline. By publishing absolutely all of my trades, I am open and transparent on my performance and therefore if I want things to be consistent I cannot step out of line from the system I trade. So before I go into any further analysis I would say this year’s gain is due to three main things:
- A good system that works
- Discipline in trading the system, no fooling around with other systems
- Strict money management
My drawdown has not exceed 10%, my average risk per trade as never gone much further than 1% per trade, and looking at individual trades in a little more detail 18% of my trades generated 85% of the profit, which is way better than Pareto’s law….
Success in trading always goes by the same rules :
- Keep risk at a minimum. Your most precious asset is your capital, preserve it.
- A few good trades will make the year, make sure you play them out and manage to keep cool in drawdowns
Merry Christmas everyone and see you in 2016, let’s see if we can improve on these results.
Just entered a CAD JPY short trade.
The pair is in a clear downtrend, price is below cloud. We’re consolidation with a flat Kijun but a clear slope on 21 EMA. Stop at the latest fractal, which is quite close so risk is very tight on this one.
Two trades taken out by stops placed at fractal level, overall loss is 262 pips.
Both of my open trades are looking good. time to manage them smartly. Reduce risk but leave room to breath, wait for next fractal to trail stop.
Good entry point on this pair where the signal was given yesterday. Price above cloud, 21 EMA and Kijun have good slope, 7 period RSI has dipped towards 50 line and is now picking up indicating renewed momentum. Go long, stop at latest fractal.
My two open trades are looking good, GBP/USD and GBP/JPY are up 223 and 284 pips so far.
Stops have been trailed to latest fractals.
Both GBP trades are looking good, I’m trailing my stop to the latest fractal on GBP/USD
Two long signals given yesterday on GBP/USD and GBP/JPY, so far so good.
My stops have already been trailed to the latest fractal.