Week 1 Review

GBP/USD position
Day 1
Had two trading position, the second one should not have been taken coz it's not a valid wiseman 3, my bad hehe.. Well on the book, Bill williams do mention to ignore the previous fractal after a new fractal is formed. If you look at the chart, there's a new down fractal after the fractal that i thought was a wiseman 3. So it's not a valid one. Anyway, two trades, two losses with a total of 107 pips : (

Day 2
Made another losses on this day. For the first trade, should have stick to my earliest stop @ 1.5965. Why? as you can see,  my earlier stop was a fractal, and when it breaks, you expect a wave 5 to develop, so before it gets hit, we're still in wave 4, a ranging market.  In other words, it's a strong resistance, better to put your stop loss there. My second trade, break down fractal then a bullish divergent bar appear, close my position just one tick above bdb high, should have stop and reverse to a buy position back then, need to remember this. Anyway total loss for today is minus 26 pips.

Day 3
On this day i start to learn more about elliot wave. I've been reading robert miner's book, dynamic trading and it really teach me something new and powerful. I recommend all of you trader to read bill williams trading chaos 1st edition on elliot wave section and then robert miner's dynamic trading. It's really worth the time, trust me : )

My first trade was an aggresive one, i was expecting a wave 5 back then, well i was wrong. i'll remember this, if I want to trade wave 5, should've waited when it breaks 1.5965 (look my 2nd day trading) and again should have stop and reserve when my stop was hit (break down fractal), but sadly i'm not in front of my computer : ( and when i got back, i was a lil bit shock knowing the price move that fast, otherwise i could have got in and exit when there's a bullish divergent bar, and make a profit.

Anyway, I used the bullish divergent bar for my 2nd trade, and add another position, my 3rd trade, when the price went up and break the up fractal. This time i put my stop further down, otherwise i would've made a loss. This what i learn on my day 2 trading. Close my 2nd trade a lil bit earlier, just to play it safe and hold my 3rd trade, coz the price wasn't goin up as expected.

Then my 4th trade was based on another awesome bullish divergent bar. Closed all my position just before non farm payroll data. Total profit for this day is 32 pips. That would be a total of minus 101 pips this week. No problem, i learn something new, i'll get it back next week.

EUR/USD position
I made two eur/usd position this week. The first one is based on elliot wave counting, which is a wrong one haha.. you can read it on "eur/usd 4 hour chart trading plan" to find out what is wrong. Well im learning here    :  ) and the 2nd trade is after i read robert miner's book. For me there's a little improvement there : ), we'll see on monday.to see how it goes. Total loss for this week is 67 pips.

Combining all trade, this week i made a total loss of 168 pips, a bad trade indeed.. But a wiseman once said, "Practice makes perfect." That's it for this week' review, hopefully next week will be better : )