Author: Max_Sydney

Well bad news keep coming, when it rains it pours eh.

I’ve reached the max drawdown for one of my investor accounts (one of my 5ers trading accounts I’ve been managing for two years)

This blows, I’m not going to lie,

That being said, it’s also worth putting into perspective:

• I remain healthy
• I still have income
• It’s not my only investor account
• I haven’t lost any family members or friends in the last six months
• I haven’t lived through any traumatic event
• I live in a developed country
• My income remains above what I spend even without this account

So can I be sad about this?

Yes absolutely, some things are preferable to others, yet since it’s no longer in my control, there’s nothing I can do about it so there’s no point wailing about it.

Still sucks tho, but I know my trades have been following my trading plan so it’s hard to argue about it.

Now the definition of insanity is to keep repeating the same things and expect a different result.

At the moment the result is a big DD, yet in the past it used to be profitable…

Anyway

---

Trade Update

EUR/NZD -1R

Euro Kiwi presented a clear short potential – we opened this daily candle below the pivot level, the 50EMA was within the 20% range, we reached a fresh daily area of supply which even had a weekly stack, the zone was fresh, we hadn’t tested it beforehand

Makes a lot of sense to me – especially the fact it sticks to my trading plan

GBP/AUD

Pound Aussieoffered a long opportunity this am, it required quite a big stop loss, however, it fits within the criteria I have of no more than 70 pips or 100 pips for GBP pairs with this specific strategy

The main issue with it is how big the SL is, which means the TP is quite small, on top of that we are within a range, that being said, it’s valid.

It fits my trading rules, so I’m happy to execute it. Let’s see how things go.

---

Watchlist

CAD/JPY

EUR/JPY

GBP/JPY

Take care folks.

Good morning folks,

I come with yet another loss today, I have to say, this drawdown is starting to get really tough on me.

I know it’s possible and that I was to expect it, but holy damn, I do not enjoy this – yet it’s only a question of keeping up my trade execution, but it definitely makes me think if I enjoy trading

It’s a question I struggle quite often with, sadly the answer has always been no, I really enjoy the process and consistency, yet the highs and lows are low.

Anyway

---

Trade Update

GBP/CAD -1R

We saw a clear brake of a descending trendline, which gave us a clear area of demand. From there we saw price retest the area

---

FX Watchlist

CAD/JPY

EUR/NZD

(I didn’t execute the script signal since the stop sizing was too big for my liking)

GBP/AUD

GBP/JPY

GBP/USD

Good morning folks!

I think I’m going to start posting my watchlist on Mondays and Wednesdays rather than daily, it saves time and to be honest, I mainly repeat myself every day which isn’t very productive or valuable to most.

---

Trade Update

EUR/CHF – 1R

Euro Swiss offered a set-up on the 14th of September and resulted as a full loss – it was a clear set-up, we saw a clear area of demand on the daily chart after breaking the descending trendline, breaking the structure and forming a higher high.

The only con was that on the 4hour chart the entry script was a small candle compared to previous momentum. That being said, it fits my trading plan so I’m happy to have executed it

NZD/JPY

Kiwi Yen offered an entry this morning – we saw a potential counter zone – this entry took place slightly above the trendline tho, which is a slight negative point, the trendline will probably attract price, that being said, it’s valid!

We have to keep executing!

---

FX Watchlist

CAD/JPY

EUR/NZD

Offered an entry this AM, however, the main issue with it which made me stay out of it, the stop sizing was too large for my sizing

GBP/AUD

GBP/CAD

GBP/USD

USD/CAD

USD/SGD

Good morning folks! I hope you’re well!

Sadly I come with another loss, I wish I was sharing my other trading style where I’ve been running on a few winning trades because this is rather depressing, I’m mainly sharing losses..

---

Trade Update

XTI

Clear opportunity, clear set-up, executed according to my plan, it just wasn’t part of the winning sample.

---

Watchlist

AUD/CAD

CAD/JPY

EUR/AUD

That’s basically it tbh!

Take care folks!

Good morning folks!

I came across a rather enjoyable podcast yesterday so here I am leaving the link in case you want to have an idea

https://www.joincolossus.com/episodes/85503387/senra-passion-pain?tab=transcript

It’s a podcast with Patrick OShaugnessy and David Senra (the man behind FoundersPodcast)

I didn’t know founders podcast but I’ve added it to my list of podcasts to dive into.

In terms of history podcast I tend to listen to “How to Take Over the World” by Ben (one of the producers from My First Million)

Here’s the link:

https://www.httotw.com/

Founders Podcast will be my new historical/biographical source.

Anyway….

---

Trade Update

XTI (Oil)

I decided to execute the trade here while I didn’t execute the 4hour entry that was because I didn’t know the correct sizing and we were trading into a small resistance

However, this trade looked rather fantastic to me, we broke above a resistance and filled it into a support, the 50EMA has been flipped and retested (we can see it is a strong area in the recent price action), it also fit with the pivot levels.

All in all, a lot of positive confluence factors to go with the daily zone and retest of the daily trendline

---

Watchlist

CAD/JPY

Canadian Yen is in a clear area for a potential reversal, we’re currently breaking out of the area but let’s see what happens from here

EUR/AUD

Clear potential area, however, it seems like the price action is headed higher and isn’t interested in retesting our area of interest

That’s it folks

Take care