Test Week 6 started on November 17 and ended on November 23, 2010. I placed 18 trades of which 4 were losers, so I traded with a 77.78% accuracy. My goal was to make $25.00 or 11.68% of the amount I started Test Week 6 with. Instead I made $21.10 or 9.86%.
During Test Week 6 I incurred huge losses that, when viewed against the fact that the week still ended profitably, only serve to emphasize how much money there is to be made in this market. Test Week 6 started with $214.10. Four days into the trade week, I lost $49.00 in one trade. That's almost twice my profit target for the whole week and close to 23% of my account. Yet, we managed to make up this huge loss and still end the week up almost 10%. With better loss management, we could have made close to 30% in just this week.
For the last few weeks, the recurrent story has been profits between the high 20% and low 30% that end up being wiped out by one single trade. There are several reasons for this. First, the EurUsd has seen some weird and spiky fluctuations in the short term charts with all the Ireland, Greece, Portugal bail outs and rumors. Second, this is a trading strategy that is in development and just last week I re-configured my indicators and the way of reading their signals. I started with this new or improved strategy Wednesday last week. Lets see how it works out.
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