Here I compile trading results from 25/1/22 until 8/2/22. This analysis to look into mistakes and what I did right during this trading period. I will analyse which trade that should not be taken, which trade I should hold for higher profit or risk-reward ratio and the trade that have setup but I missed it.
1. AUDCAD buy (25/1/22) loss of $94.63, this trade should not be taken as no setup in hourly chart. This trade based on 15 minutes chart.
2. AUDCAD buy (25/1/22) loss of $91.86, this trade also should not be taken.
Details of both trade here
3. USDCAD sell (26/1/22) profit of $195.66, this trade although profit but there was no setup in hourly chart. I will exclude this trade in my final analysis.
Details of trade here
4. AUDCAD sell (27/1/22) profit of $35.26, this trade was based on 15 minutes chart, but on hourly chart there was a different setup and possible to give 39 pips profit against 24 pips risk. (1.625R) roughly about $162 profit (this based on trailing profit). Max profit around 79 pips or 3.29R roughly at $329 profit. For the purpose of analysis I used profit based on trailing profit target
Details of trade here
5. EURNZD buy (28/1/22) loss of $97.20, this trade should not be taken as no setup in hourly chart.
6. CADCHF sell (2/2/22) loss of $46.55, this trade also should not be taken as no setup in hourly chart.
Details of trade here
7. EURCAD sell (8/2/22) loss of $42.58, this trade all according to trading plan and setup base on hourly chart however the trade closed with loss. This I will include as a loss trade.
Details of trade here
Should I took only trade that have valid setup the outcome would be one trade with profit $162 and one trade with loss $ 42.58, giving net profit of $119.42
Next we will examine the missed trade, trade that has valid setup and according to trading plan but I did not enter.
1. EURGBP buy (4/2/22) possible 0.68R (16 pips SL / 11 pips TP) base on trailing stop loss. If risk $100 than this will give profit of $68.
Details of trade here
2. AUDJPY buy (8/2/22) base on 13 pips SL as this time of writing (9/2/22 @1:35pm) the lock in profit stand at 81 pips this give 6.23R or roughly $623 profit.
Details of trade here
Total possible profit will be $119.42 + $68 + $623 - $42.58 = $767.84, very close to target profit of $1000 to pass the FTMO evaluation.