Annual Targets: ROI>15% DD<10%

Hi,

started beginning of April with £600. Made about 5 trades but realised I was risking too much per trade. This made me hesitant to place orders. Therefore missed some nice trades. Don't need a big winrate to hit my annual targets...

Missing some nice trade is part and parcel of trading. Each trader have same feeling many times.
 
Missing some nice trade is part and parcel of trading. Each trader have same feeling many times.

Sure, but I wasn't placing orders for fear of large drawdowns and large drawdowns would damage my confidence. I would find some excuse not to place the order. Risking approx 0.5% eliminates that fear for me.
 
Active Trades
Sold GBP/USD 1.6246, sl 1.6261 (was 1.6271)
Sold EUR/USD 1.3277, sl 1.3310
Bought EUR/JPY 105.52, sl 105.40 (was 105.27)
 
Active Trades
Sold GBP/USD 1.6246, sl 1.6261 (was 1.6271)
Sold EUR/USD 1.3277, sl 1.3310
Bought EUR/JPY 105.52, sl 105.40 (was 105.27)

Stop loss hit on EUR/JPY trade after reaching risk:reward of 1:4.
I won't take less than risk:reward of 1:5.

Have buy order for AUD/JPY 82.52 stop loss 82.22
 
Bid placed NZD/USD 0.8005, stop loss 0.7965.
I would place order at 0.8000 but mention of barrier option there.
 
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Summary of active trades
Sold GBP/USD 1.6246 stop loss 1.6261 (was 1.6271)
Sold EUR/USD 1.3277, stop loss 1.3310
Bought NZD/USD 0.8005, stop loss 0.7965
 
Last edited:
Summary of active trades
Sold GBP/USD 1.6246 stop loss 1.6261 (was 1.6271)
Sold EUR/USD 1.3277, stop loss 1.3310
Bought NZD/USD 0.8005, stop loss 0.7965

Just closed NZD/USD trade at 0.7985 as its Friday, NFP, bank hollidays and daily close is below 0.8000.
Will leave the other trades.
 
EUR/USD sell at 1.3277, (initial stop loss 1.3310) approaching risk:reward 1:10. May take profit near to 1.3000 and look for sell opportunity below. Or I may ride it to 1.2870. Mention of barrier option at 1.3000 with sell stops below.
 
EUR/USD sell at 1.3277, (initial stop loss 1.3310) approaching risk:reward 1:10. May take profit near to 1.3000 and look for sell opportunity below. Or I may ride it to 1.2870. Mention of barrier option at 1.3000 with sell stops below.

Going to see if it closes below 1.3000 but much prefer 1.2980 area...
 
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