USD/CHF -- 12/11/2018
The last trade of the year was unfortunately a loss. As a trader and signal provider with KTFRX, we believe that it is important to be as real as possible about everything. Transparency with our losses keeps us accountable to our clients as well as ourselves.
In regards to USDCHF. The pair was overextended and needed a correction. Once the correction was made and there was a confirmation that the short term bullish structure had changed over to align with the overall bearish structure again, we executed the trade. We had anticipated that price would create a true lower low and therefore would have been a very good trade.
Unfortunately, once we looked back at the trade on the weekly timeframe we see that we were trading in a dicy area and should have only take the trade to either the last lower low or no have taken the trade at all.
Once the price was clearly showing that it was a fake out it was clear that the chances of price moving any lower were not in our favour. At that time we signaled for the trade to be closed resulting in -31 pips to our results for the month.
We ended the year on a loss but over the 3 month period of KTFRX signals of 2018 we ended with 15 trades: 12 of those being wins. We never promise a 100% win rate and because of that we always recommend trading with proper risk management. Losses will inevitably happen and must always be accounted for.
Trading for 2019 resumes this week and we're incredibly excited to get back at it!