Reversed the weeks GBPUSD losses..

The last 3 days were not good for the system and I suffered a 20 pip loss each day. As I traded Tuesday, Wednesday and Thursday, the total loss for the week was 60 pips! I didn’t trade Monday as it was the Bank Holiday yet it would have yielded profits had I done.

It’s times like this when you consider whether your trading system is going to work for you… the back testing has shown that 3 days in a row of losses is rare but when it happens, your confidence in the system diminishes and the danger is that you start to tweak your system to such a degree that the original system doesn’t exist anymore.

Today, however, the losing streak ended… phew! In fact, I got the best scenario possible. Both trades triggered and made a profit resulting in a total of 60 pips which negates all of this weeks gains.

The long trade which was initiated first peaked at about 30 pips so that was very lucky. The downside movement however was much larger at 150 pips..  my system doesn’t yet capture long runs like this so it could be something which I build into the system as an addition rather than a change.

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Category: Forex trading, money, Spreadbetting, Trading