This is the 6th week of day trading with the 5EMAs Forex Trading System. I’ve started applying more trading discipline this week, with only 4 trades taken.
My Forex Day Trading Results With The 5EMAs Forex Trading System
These are the week by week results over the past 6 weeks of taking the complete 5EMAs Forex Trading System for a spin in the markets:
- End of Week 1: $10,513.20 (+5.13%)
- End of Week 2: $10,983.56 (+4.47%)
- End of Week 3: $10,206.23 (-7.08%)
- End of Week 4: $9,620.75 (-5.74%)
- End of Week 5: $9,940.09 (+3.32%)
- End of Week 6: $9,857.48 (-0.83%)
Summary Of The Past Week
One of the things about trading a 24 hours market is finding the best times to trade. So even though the markets are open for 24 hours, there are certain times when it’s best to stay out of the markets.
After trading over the past 6 weeks, I’ve decided to only start looking at trading set-ups that happen after the London markets open. Here’s a handy tool for you to check when the currency markets open around the world.
Being one of the largest, if not the largest, currency markets, I’d want these traders to weigh in with the opinions on the currency trends before taking up positions. So while I could trade on Mondays before London opening, I’d rather stay out.
Trading Wins / Losses
This week, I only took 4 of the 5EMAs Forex Trading System trades, of which 2 were winners and 2 were losers.
Initially, I thought it was a horrible week, but when I checked my journal and the results I got a clearer picture of what actually transpired.
The Losing Trades
Of the two losers, I exited one when market conditions changed and the other was stopped out for a full loss. The trade that was stopped out for a full loss was also because I went for a larger target on the 1st Lot, which wasn’t hit.
The initial target was 25 pips on the GBPUSD, but instead I went for a +56 pip profit target (which was based on another trading set-up I have, but it happened to set-up the same time as the 5EMAs Advanced Trade). 
If I had stuck to the +25 pip profit target, I would have taken the +25 pips and had stops moved to B/E on the second half of the trade, making this week a 3 wins and 1 loss trading performance.
The Winning Trades
The other two trades hit their first profit target, and got stopped out on the second “bonus” portion when the markets didn’t really trend far enough.
If I had just exited the second portion of these winning trades the same time as the first portion, this week would have been slightly over break even with a few dollars profit.
I’ve got to tell you though, it was tempting to want to exit the second portions for profit when I started to see the markets starting to turn. I had to resist this “temptation”, stick to my trading plan of possibly hitting larger winners, and take the possibility that the retracements wouldn’t be far enough to stop the trades out.
Given the right market conditions, this week could easily have turned out to be a huge winner if the USDCHF and USDJPY has broken into 100 or 200 pip trends.
Trading The Trend
Trading with the trend will result in these kind of stop-outs. Depending on the individual trader, some might prefer to take their pips off the table and be happy with it. Others might want to risk a little more for the chance of potentially larger gains.
In the end, it depends on what you want to accomplish as a trader, your risk tolerance and your ability to stick to your trading plan.
Because trading is such an unstructured environment where basically anything goes, having a trading plan will help you generate consistent results in a constantly fluctuating environment. Without a trading plan, you won’t even know where you’ve gone wrong, which leaves you in the dark about where to even begin improving.
So if you don’t have a trading plan, I suggest that your first improvement as a trader would be to write it down. 
For more information about the 5EMAs Forex Trading System package that I’m currently using, you can check it out here: