DDFX Trading System – 15th to 19th August – First Losing Week
So finally we have a losing week on the DDFX trading system, we’ve had a spectacular run so I do hope this this is a one off and not the start of a spiral trend which seems to be what happens to a lot of trading systems.
The GBPUSD long at the beginning of the week was a nice trade… a winner and what I expected (probably getting a bit too confident here).. A mere 31 pips which isn’t huge compared with the trades I’ve been getting with the system previously but nonetheless, a good start.
My second long entry came on Tuesday, the trend indicators were all blue and I got my arrows.. this looked like another good trade.. looked just like Monday’s trade. However, the market did get up to a 40 pip profit before it retraced and fell. I got out for a 23 pip loss.
The third long trade on Wednesday was another nice looking setup.. at one point it was 50 odd points in profit but it fell and I got out for a 21 pip loss.
There was questionably a short signal.. I have ring-fenced it but I didn’t trade it.. the arrows weren’t together and the green price bars (indicating neither an up or down trend) spooked me.. looking back I was glad I missed this one.
The fourth trade was a long again.. this trade had went 70 points in my direction and at this point, I had moved my stop to breakeven. The price did retrace and I ended up with a scratch trade.
So I ended up with a 13 pip loss for GBPUSD.. all the trades were in profit at one stage and if I managed to get out at the best price, I would be around 200 pips up.
The GBPJPY forex pair is arguably very similar to the GBPUSD pair and perhaps I should have traded EURJPY or something to give myself some diversity. Anyway, it wasn’t exactly like GBPUSD as the first trade signal was on Tuesday (which was like the GBPUSDs second trade)… started off, a loss of 28 pips!
There were a series of other trades as you can see where I became more conservative due to the duplicate losses (lack of wins also on the GBPUSD pair) which made me be very tight with my stops, moving them to breakeven where I could.
As a result, the two trades after the first were both scratch trades. The final trade was a disaster, a 74 pip loss.
Result for the GBPJPY pair was a 102 loss for the week! Ouch!
Overall the first losing week for the DDFX trading system since I’ve been testing it. Loss of 116 pips!
To learn more about the DDFX Forex Trading system click here
