Happy Sunday everyone,

I hope you are having a great weekend.

I have again prepared charts for the FX pairs I intend to trade for the upcoming week. Specifically, I trade only four pairs: EURUSD, GBPUSD, USDCAD, and AUDUSD. In the past, I used to trade more pairs, but after analyzing my Trading Log, I realized that focusing on these four pairs would yield the best results.

Trading performance review (4 pairs only)

I missed two trades and therefore had a 6 R drawdown. The two trades were both 2R winners. This would have reduced the drawdown to 2 or maybe 3 R. So an important lesson here is: Do not miss trades!

Some stats

Winners: 15 (could have been 17)
Losers: 20
Winrate: 43% (could have been 46%)

I made 10 R in 35 trades over a period of 4 months. (Could have been 14R in 37 trades).

So I made 2,5 R per month, and I placed about 9 trades per month.
Every trade had an expectancy of 1.28 R. So for every 100 USD I risked I could have expected to receive the 100 USD + 28 USD back.

If I risk just 1% per trade, then on average my account will grow 0.28% per trade.

I am in the process of testing more pairs. Once a pair is tested and has good performance, I will add it to my live trading to have more live trades per month and therefore more profit potential per month.

These stats are in line with my Backtest for these pairs over the period 2017-2022. Check out my Backtest to see where I am at testing more pairs.

My Forecast for the coming week

Dollar index

First, let's look at the Dollar index to get the big picture. At the beginning of next week, it should become clear if the dollar index will break higher or it will reverse back lower. This will inform my trading decisions on the pairs that I trade.

4 Forex pairs

If you are interested in my long-term investment strategy and analysis, please visit my profile on Etoro.

Additionally, if you want access to the same charts I use, consider checking out Tradingview.

Also, if you want to learn how to trade like I do, check out my Ebook: Learn to Trade, and consider joining my free Discord server to connect and discuss trading.

Best of luck with your trading endeavors.

Sincerely, Dave.

This information is for educational purposes only and is not trading advice. Please see the full disclaimer here: https://davetromp.com/disclaimer/

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