Hopeful For A Better June - 1-Jun-16

Hopeful For A Better June – 1-Jun-16

Well, I reckon I am down, on the 3 Little Pigs strategy, for the month of June around 12%.

This is not the worst ever trading month for 3 Little Pigs but it is certainly up there in the “painful” month section.

The main reason for this is that usually when the majority of the pairs I trade are ranging there are one or two that make up for that. This month the best performing pairs (AUDUSD and USDCHF) have returned 0% between them. Obviously this means those ranging pairs where I have seen the biggest losses (EURGBP, EURJPY, GBPUSD and USDJPY) have not been offset by gains elsewhere.

And of course, this does happen occasionally and of course, there is little I can do – I accept the bad month (May) and move onto June.

So, after a chain of Breakeven, -1%, -1%, -1%, -1%, +1% and -1% (net -4%) I was hopeful of my previous EURJPY trade where I got a great Entry (with a really close Stop).

Sadly, I was stopped out on the next candle. However, on that exact same candle I got another Entry, which again I am hopeful of, see chart...

Hopeful For A Better June - 1-Jun-16 Chart

Now this time I have a slightly bigger Stop than the previous trade but it is still a nice tight Stop. Entry 122.88, Stop 123.22, a 34 PIP Stop.

Here’s to seeing some progress in June to eliminate some of that 12% or so May drawdown.

Hope it helps.

All comments welcome.

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This update is based on my analysis on my charting package. It may differ to yours as it can be affected by time, market movements, charting packages and broker prices. I accept no liability for loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on any information in this report or analysis.