Last week was also a losing one, but I’ve managed to actively manage the trades and limit the losses. My overall results is still more than good, so I just have to continue following my plan.
Here are my trades for last week:
Daily time frame indicated a strong change in overall trend:
I think that the problem with this trade was that I didn’t give enough weight to MACD indicator and that’s why I decided to change that in the future. When I compare my winning trades with my losing trade, I see that winning ones have this MACD “hook” and losing ones don’t.
I decided to enter the trade after a pullback on H1 time frame. I have entered the trade after a breakout of short-term trend line, but bulls immediately started pushing the price in the opposite direction (rejection after trendline breakout):
The trade ended with 20,67HRK loss.
I took a trade on the same currency pair the day after.
The entry was almost the same but I followed my rules regarding the MACD and ADX:
Active management of this trade was a good decision because I have managed to limit my loss to only 8,60HRK:
If I didn’t do it, the trade would end up with a much bigger loss.