August was a strange month and didn’t go at all like planned. Not to mention it wasn’t a positive month, finished with a loss, not a big one(a loss is a loss), just under 1% (-0.7%).
I had and still have problems with two parities, GBPUSD and EURGBP. And in both cases is because I didn’t use stop losses. The nightmare started with two open positions going against my plan on GBPUSD, then a misplaced hedge action, and then….well then I locked that currency and started to trade the EURGBP.
On EURGBP we have the same scenario, one LONG position, then it went downhill, multiple hedges, up and down, up and down. On a positive note, I managed to profit from the EURGBP hedged transactions enough to close almost all GBPUSD, so now I have problems mainly on one currency.
Because of all of this stress with the hedges I traded the AUDUSD, NZDUSD and USDJPY parities, in hopes of recovering some capital. I think the analysis was wrong and I registered losses on all the parity. The total net profit this month is -5.19 USD, as previously stated, not a big loss.
The problem remains in the open drawdown that we carried to September and we will see how it will play out. And all because of my stubbornness to use stop-loss (the fear of losing). Trading with emotion always gets the best of me.
Here is the EURUSD loss transaction and the USDJPY and AUDUSD stop losses.
This month there was a lot of Fundamental News that may affect my trading (the commercial war between USA and China, the BREXIT deal), but I am the one to blame for not doing too many analyses and not using stop-losses in transactions.
One trade I regret I missed and would have brought nice profits it’s on AUDNZD. Maybe it will be a good idea to use some automatic orders in the future.
Thank you for reading this!
Disclaimer: I am not a financial consultant, all the information you find here are my decisions, I taken in that moment, on my own analysis. I am open to any type of discussion about money. If you want to replicate my portfolio take into consideration that it is your money.