Why I stopped making the weekly outlook videos...

January 2017 performance summary

Here are my performances for January 2017. Account statements and performance summary pages have been updated.

-5.43% on Trend Following account

-0.17% on PAMM Growth account

Short and simple post for this month because I am preparing for the London Forex Show as well as a few other forex related projects for the year. I cannot say what it is until the official launch.

Wishing you a profitable month for February.

Live trading at London Forex Show February 24th

I will be trading live on stage from 1.20pm to 2.50pm on the day. You can find more information here.

December 2016 performance summary

Happy New Year for 2017!

I want to wish you great year in 2017 for your own personal trading. I was pleasantly surprised that many readers of my blog sent me Merry Christmas and Happy New year messages. Thank you for all of your kindness. I started this blog with the goal of sharing the reality of trading to others. Judging by the emails that I receive, it has been making a positive impact. Once again, thank you for sharing your stories and I hope my blog will continue to benefit you in some ways.

Here are my performances for December 2016. Account statements and performance summary pages have been updated.

-1.47% on Trend Following account

-0.06% on PAMM Growth account

The growth account registered a small loss from only 1 trade. I am now half way through my second year of proprietary trading. The first half of this 2nd year had 11 trades, 10 losses and only 1 winner. The account is down -1.59% compared to the beginning of the year. This is risk management in action. Considering that I risk on average 0.5% per trade, this is effectively showing that I have taken 3 losses instead of 10. I work hard to give back as little profits as possible during the more difficult periods of trading. The reality of trading is that every trader will go through periods of draw down and my number 1 priority in trading is to survive the down periods as best as possible.

This year will bring along new projects for my trading. February 24 is my live trading challenge with Charlie Burton at the London Forex Show. I am also doing day trading using multiple strategies, systematic and discretionary. One of my goals for 2017 is to take up more discretionary trading to gain more experience with different market conditions. You can see my progress on Twitter (check the photos).

Wishing you a profitable year for 2017.

Viet

PS: I accidentally deleted the post for November 2016 :(

Weekly Forex Outlook 20 November 2016

It's been almost 2 weeks since the US election and the aftershock is beginning to settle. My analysis shows that both volatility and price action are no longer hostile to my trading methodology. Here are the currency pairs that I'm watching next week for possible trading opportunities:

AUDJPY - Resistance at 81.50 has been broken during the week but price action is still showing a lot of selling pressure. Thursday's and Friday's candles show that buyers and sellers are still struggling it out for control. At the moment, my analysis favours a long trade more than a short trade. This is because price action in the last 5 weeks show that buyers have been stronger than sellers. I am waiting to see how Monday's candle turn out before deciding on my next move.

AUDUSD - Support at 0.7440 was broken this week and sellers are in total control for the last 3 days. If price pulls back to 0.7740 then it could be an opportunity for me to enter short if this support levels turn into resistance.

EURAUD - This pair finished the week just under 1.4430 level. This has been a very strong support level for much of the year therefore it could now be acting as resistance. Despite the recent messy price action, there are still signs that it is a significant level for me to trade from. Going into next week, I am monitoring this pair on multiple time frames looking for signs of strong selling pressure below resistance to go short.

EURUSD - I'm looking at the weekly chart here and price is getting close to 1.0520 long term support level. Seller have been strong in the last 2 weeks therefore I only would consider a reversal long trade on daily or weekly time frames. Smaller time frames carry more risk than I can handle in this particular case. Let's see how it turns out.

GBPAUD - Resistance at 1.6720 has been tested and broken through. This setup has almost meet all of my entry criteria for a long trade. I need to see how the weekend gap (if any) would affect the numbers for entry and target that I have planned. My stop would be below 1.6400 which is the last swing low.

GBPJPY - Buyers continue to push price up after the US election and now it is close to 138.60 resistance. I want to see evidence that resistance holds up as well as selling pressure below resistance to enter short.

USDJPY - Similar to GBPJPY above, this pair has been on a strong uptrend since the US election. Price is now very close to 111.20 resistance level. This is a strong support resistance level in my analysis with a lot of strong movement away from it earlier on in the year. My approach here is the same as my plan for EURUSD (see above):  I only would consider a reversal long trade on daily or weekly time frames because Smaller time frames carry more risk than what my trading plan is designed for.

October 2016 performance summary

Here are my performances across the 2 accounts for October 2016. Account statements and performance summary pages have been updated.

+1.84% on Trend Following account
 0.00 on PAMM Growth account

This year so far have been full of surprises and it still has more to go with only 2 months remaining. My discipline have been tested many times when market does not produce trading opportunities.

There was no opportunity to trade on the Growth account this month. I am more than happy to stay on the sideline watching the market rather than forcing the market to produce trades. With the US election coming up next Tuesday, I will not be trading USD until Monday 14th.

The trend following account had a positive month with big winners on GBP shorts. GBPAUD short was opened for 5 weeks and finished with +5R. GBPUSD was opened for 7 weeks and also finished with +5R. This account will continue to trade as normal over the US election unless volatility goes above my risk tolerance (which happened prior to Brexit).