Trading-Mentality

I have a trend following strategy on the 1-hour (H1) timeframe. I've noticed that momentum strength can be influenced by the higher timeframe trend. Before we run through some examples, here's a recap of my thesis on multi-timeframe analysis.

Volatility was a little bit lower this past week. As a result, I had relatively more trades that resulted in a loss or broke even. Here's a recap.

Last week, I followed my plan trading trend momentum on the 1-hour timeframe fairly well. I have a few winners and a couple of losers to highlight. My winners were bigger than my losers, which led to a positive P&L in last week's session.

Last week, I wrote a post on Monte Carlo simulations. This is a follow-up post as I spent the past week running a strategy that modeled the trade statistics I inputted into the "calculator."

Three notable trades over the past week. Although August felt like a slower month, being patient and only going for the cleanest setups did pay off.

Ever wonder if you should move your stop loss to break even? Or how to even evaluate the efficiency of your strategy? Is it enough if your historical trading statistics point to positive expectancy? This is where one of my favorite free tools come in.

An uneventful, maybe even a slightly boring, week. A couple of my trades ended up reverting back to break-even, which I closed, due to the Fed's hawkish stance at the Jackson Hole symposium on Friday. I immediately observed this on my EURUSD trade and a few others.