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Nine Months of EURUSD Intraday Trading

Nine months of EURUSD intraday trading

Nine months of EURUSD intraday trading. That was my beginning with the trading account which I decided to use for Capital Patterns. I don’t know if it was a good or a bad idea. If I judge it after its results it seems like not the best idea. If you’ll check my trading account with my verified trading results you’ll see that on October 31st 2o19 my account was down -6.04%.

Ups and downs in nine months of EURUSD intraday trading

During this period of time, January 31st 2019 and October 31st 2019 the account’s peak was +10.70% and the valley was -13.57%. Although, the valley wasn’t caused by the trading method but by a fat fingers error (click on the link to find out more about it) made by me. But, an error it’s an error and you need to deal with it.

What went wrong?

The idea to start the trading account with an intraday method was to grow the account in a rapid manner but keeping a low risk. It seems that the timing was wrong, because 2019 was one of the worst years for scalping on EURUSD. You can find more about the subject here. Why do I say this? It’s because the price action was very choppy during the entire year. So, when this happens, it’s very hard for a breakout scalper to find his edge in the long run.

Too focused to win?

By the end of October I realised that I am too focused on EURUSD. I also missed the very nice price action from the GBPJPY. So, at the beginning of November, I decided to start some scalping trades on GBPJPY. As you’ll probably guess my decision came a bit late. After just a few weeks the “dragon” (GBPJPY) entered into a choppy range too, in December 2019.

What have I learned from Nine Months of EURUSD Intraday Trading

As you might expect, I learned some lessons from this experience. And I think that the most valuable lesson is that being too focused on a single trading instrument it’s a very bad thing. That’s because while you focus on a single pair, you loose all the other moves from the market. That was the moment when I decided to end my intraday adventure with EURUSD and GBPJPY. So, I decided to trade only on higher timeframes: Monthly, Weekly and Daily. In the next articles I invite you to read about every single order that I placed starting with the end of December.

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