Weekly Wrap – Draghi brings good fortune

Sometimes you need luck to go your way a bit.  Two of my positions post-NFP benefited draghisignificantly thanks to unscheduled comments from ECB’s Draghi.  That said, it feels like my chart analysis and processes continue to improve week by week.

Ahead of actually trading, I focused on making anticipations ahead of the sessions and figuring out what zig-zags price could likely make for various instruments.  This is largely due to good examples of this being set by two guys I follow on Twitter, one of them being Pete Armstrong and the other Simon Kloot – thanks a bunch for freely sharing part of your approaches and processes.

This week was slow in terms of actual trading, as I focused on some studying, reviewing and so forth.  However I did place ten trades in the end.  Prior to Friday’s session, all of the executed actually worked or half-worked, yet I was still slightly in the red – go figure! I guess my trade management is to blame for that.

However in today’s session things turned a bit lucky for me, with avoiding 3 out of 3 working out in the afternoon including avoiding a near stop-out and exiting at what turned out to be extreme positive price swings. That said, those targets were based on my analysis and identification of support/resistance levels, so I should take some credit.

Additionally this week I allowed myself to start a bit later in the mornings (i.e. 8am) and thus go out more in the evenings spending quality time with friends and doing a lot of exercise – this made me feel a lot happier when I was in the office.

Thus in summary, the good stuff this week:

  • Detailed preparations ahead of sessions
  • Including marking of levels, understanding context and making anticipations of where and when to trade
  • Reviewing the charts each day to identify all valid setups
  • Improving work/life balance – more sport, more time with friends, more sleep
  • Detailed analysis of executed trades
  • Further study of the Voigt text – looking at trend analysis and stops

Some of these points become evident in the charts below – these being the three trades I took post NFP on Friday afternoon:

 

506

 

508

 

507

Happy weekend everyone and see you again next week!

 

 

 

This entry was posted in Psychology, Reversals Strategy, Trend-Following Strategy. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s