The Gold Method Ichimoku Weekly review
This week was our first in the Training room for The Gold Method Ichimoku.
First, I want to thank those who participated and for all their hard work and effort this week. Working with you guys was an absolute pleasure and I look forward to continuing our relationship, so you achieve your goal of becoming Professional traders.
Here are the quick Stats for our 4 days together:
1 winning trade
2/3 loosing trades (discussed below)
1 Flat trade
1 No trade day
Pips won: 138
Pips Lost: 51.8
Here is a day by day breakdown:
Monday we closed our trade flat as all indications were the market was going to move against our position. This trade was reviewed on Wednesday with the conclusion being that while it was a good trade set-up, either a slightly larger stop or a more conservative pullback level could have been used to make this trade successful.
Tuesday: We did not meet
Wednesday: We took a GBPCAD Breakout trade that failed for -26.8 pips
Thursday: We could not find a high probability trade set-up, so we did not take a trade.
Friday: We had 2 Type 1 Trades on GBPCHF and GBPJPY with both Breakout and pullback entries. The Breakout trades were triggered at the European open. Some traders took GBPCHF, others took GBPJPY and some, including myself split my risk-based position between the two. That is why it listed as 2/3 losing trades
Unfortunately, as shown above the breakout trades on both pairs failed.
However, the pullback trade on GBPJPY triggered at 8:44 a.m. GMT (4:44 a.m. edt) and ran to it’s profit target for a + 138 Pip gain. Since the training room ended approximately 30 minutes before the pullback trade triggered only slightly more than half of the class took the trade. I take responsibility for not making it clear that the pullback trade was still viable. That is on me and I will make that up to you guys.
For the week, since I risk 2% per trade, I ended the week with a 7.7% gain and while those who caught the GBPJPY pullback trade ended similarly, I want every trader in the room to experience those gains.
Sincerely,
Allen Gold
First, I want to thank those who participated and for all their hard work and effort this week. Working with you guys was an absolute pleasure and I look forward to continuing our relationship, so you achieve your goal of becoming Professional traders.
Here are the quick Stats for our 4 days together:
1 winning trade
2/3 loosing trades (discussed below)
1 Flat trade
1 No trade day
Pips won: 138
Pips Lost: 51.8
Here is a day by day breakdown:
Monday we closed our trade flat as all indications were the market was going to move against our position. This trade was reviewed on Wednesday with the conclusion being that while it was a good trade set-up, either a slightly larger stop or a more conservative pullback level could have been used to make this trade successful.
Tuesday: We did not meet
Wednesday: We took a GBPCAD Breakout trade that failed for -26.8 pips
Thursday: We could not find a high probability trade set-up, so we did not take a trade.
Friday: We had 2 Type 1 Trades on GBPCHF and GBPJPY with both Breakout and pullback entries. The Breakout trades were triggered at the European open. Some traders took GBPCHF, others took GBPJPY and some, including myself split my risk-based position between the two. That is why it listed as 2/3 losing trades
Unfortunately, as shown above the breakout trades on both pairs failed.
However, the pullback trade on GBPJPY triggered at 8:44 a.m. GMT (4:44 a.m. edt) and ran to it’s profit target for a + 138 Pip gain. Since the training room ended approximately 30 minutes before the pullback trade triggered only slightly more than half of the class took the trade. I take responsibility for not making it clear that the pullback trade was still viable. That is on me and I will make that up to you guys.
For the week, since I risk 2% per trade, I ended the week with a 7.7% gain and while those who caught the GBPJPY pullback trade ended similarly, I want every trader in the room to experience those gains.
Sincerely,
Allen Gold
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