Trading Journal: Hard Trading Week Due to the GBP Unexpected News

8 min read
tarantula fx

tarantula fx

Head of Trading

Dear traders,

Amidst the US elections, Covid and Brexit, the best semi-automated intraday system finally faced a losing week.

But fortunately, the loss was not big due to the unique money management approach. Last week’s total ended with -203 net pips and a -5.99 % loss.

12-Week Trading Result: 104 Wins & 41 Losses

The reason for the hard trading week was mostly due to 2 factors. The first and foremost factor is that each time we make intraday trade we need to be ready for out of the blue news as there are 3 ongoing crises: the US elections, Brexit and COVID. 

For instance, during our GBP trading day, there was unexpected news about the EU-UK missing the mid November deadline to finalize Brexit. Because of that, we were stopped out of our GBP positions. 

The other thing which has a remedy is overnight trading. On our GBPNZD trades both times we had initially winners. However, during the night the price went after 40 pips in profit into a stop loss. 

Solutions? I have decided each time I leave the trade overnight to move the TP to +20 pips. My statistics showed that usually overnight the price goes in profit on average 20 pips before it turns the direction.

Also, due to the specific money management approach which you can learn along with the Black Widow course, the loss was not big and I expect next week to go in profit again.

This is the summary of our trades with the ecs.LIVE channel group. Here is the table:

1Nov 9USD/CHFSell0.91250.50Loss-40
2Nov 9EUR/CADLong1.5330.50Win30
3Nov 10GOLDShort18850.30Win50
4Nov 10GBP/NZDShort1.94050.50Win33
5Nov 11GBP/NZDShort1.9410.30Loss-50
6Nov 11GBP/NZDLong1.92651.50Loss-67
7Nov 11GBP/USDLong1.32051.00Loss-45
8Nov 11GBP/USDLong1.32150.50Loss-45
9Nov 11GBP/JPYLong139.20.50Loss-40
10Nov 12GBP/JPYLong1391.00Loss-50
11Nov 12NZD/USDLong0.68653.00Loss-40
12Nov 13GBP/NZDShort1.92652.00Win19
13Nov 13GBP/NZDShort1.92881.00Win42

As you can see, 5 out of 13 trades are winners. Losses will always happen but it is our job as traders as me as the Head of Trading in Elite Currensea to cap it at the lowest possible level.

Here is the screenshot of the new Black Widow live account and you can follow it here.

Due to the specific risk portfolio of each trader, I urge you to take a look at our SpreadSheet where I have been thoroughly writing down each trade I send in the Telegram channel.

Black Widow Trade of the Week

It was the GBP/NZD. Total 3 % risk per trade and 61 pips total.

To get a much deeper understanding of the Black Widow please read this article. If you are interested in taking your trading to the next level with me as your mentor, then you can get both the live trading setups and CAMMACD system that generates them via our website.

Cheers and safe trading,
Nenad

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