Wednesday 30th of September

Last day of the quarter, last day of the month, but I don’t think I’ll be taking any trades today, we’ll see what the price action does.

I finished the month 1.57% using 0.5% as my max risk per trade. Where I am annoyed is that while I correctly sized all my position to have 0,5% risk or less, I was sometimes forced to risk less than 0,5% due to lot sizes, I’m currently going through the fivers trial program, hence I’m being very careful (as always) with my risk, but the main issue is the small account.

As you can see in this screenshot neither of these 3R winners were close to 1.5% or even 1.45% that is due to the lot sizing as well as commissions and roll over fees.

All in all, that would’ve resulted in a 3.14% month had I been using my 1% risk I use in my personal account.

But now onto the important stuff 🙂

Daily Watchlist

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EUR/CAD

Euro Cad used to be my favourite pair to trade (when I lived in Canada and had most of my savings in Euros I was always trying to figure when would be the best moment to transfer money over)

I’m liking this pair, we are moving towards a fresh trend line break zone, which has a nice weekly stack on it as well.

I hasn’t really moved since March, so we’ll see if once we reach supply we are able to finally get out of the daily consolidation it’s been in for quite a while

Once again, I will need to see more things than just the price reaching the zone to take an entry.

https://www.tradingview.com/x/vVo33NzO/

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AUD/USD

Aussie Dollar remains on my watchlist since we actually did not touch the zone (if we adjust it to the weekly stack) hence I believe that the zone remains fresh to the upside.

Time will tell if there’s indeed a move into this demand zone, but if there is, there’s a nice weekly stack. Let’s see how it gets there.

If the price decided to go higher we’ll have to settle for creating a new counter zone if the supply area is broken since it is no longer fresh.

https://www.tradingview.com/x/STx7qTIm/

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EUR/AUD

Let’s talk about the euro and aussie crossover since I’ve mentioned both currencies above 🙂

I mentioned yesterday that I wasn’t surprised the price was pulling back towards the 4h 50ema in a corrective pattern to gain enough strength – to catch bids – to reach our supply zone, it probably won’t reach it today, but it’s a possibility

Once again, that zone has a weekly stack so all is good on that side of things, now it’s just a question of waiting to see if the zone is reached, or not, and how it does so.

https://www.tradingview.com/x/pycIW6Dx/

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EUR/NZD

I’ll be also eying up a potential short on ER/NZD, we are still quite far away from the zone, but it’s not too surprising to see this pair move more than 200 pips in a day, I was planning to only talk about it tomorrow but we’ll do it today too!

This set-up is quite nice, the pair is moving quite correctively towards this supply area, it fits with my overall EURO short bias (once the supply zone are reached), there’s a clear weekly stack.

I think this zone kinda jumps to the eyes, so we’ll see if other people notice it too.

https://www.tradingview.com/x/L1OROql5/

Book wise…

I finished rereading Meditations last night and I’m now reading the Lives of the Stoics, the new book by Ryan Holiday, which talks about the lives of the “heads” of the school – I’m only 20% in but I’m enjoying so far.

I truly believe that philosophers should show us how to live, by their own actions rather than just texts.

Wish philosophy on how to live was still taught to this day.

Tweet wise…. Here’s my favourite of the day

When we get too close to a digital picture, we get to see the pixels, but we lose sight of the image.

If you step back, you start to see a different picture, you start to see the whole picture.

This is the same in the markets. Never lose sight of the bigger picture !!! pic.twitter.com/wbTKeb0n72

— Steven Goldstein (@AlphaMind101) September 28, 2020

Zoom out guys! Zoom out 🙂