This week I closed the GBP/USD grid which I opened since 05 Dec 2023 as the GBP/USD crossed the 1.27 mark. It had crossed the mark in March 2023, but I did not close the grid as I thought there was still some potential. But as it crossed the 1.27 mark again, I thought I should take some time off to review my next step. A look at the daily price movements since December 2023.
With the grid system, there is always that few trades at the edge of the grid which will take much longer than others to close. My longest trade for this round is about 57 days.
This week I did not manage to close a single trade on my riskier XAU/USD and XAG/USD grid. In an ideal situation, the many but small trades of GBP/USD would contribute to the safer half of my weekly earnings, and my riskier but fewer trades of XAU/USD would take the other half. In fact as long as I can close a single XAU/USD trade per week, I will be satisfied. I am still experimenting on the XAG/USD pair though.
Anyway, the earnings for this week come solely on the GBP/USD pair. A total of 13 trades with 46.30 USD profits. I closed the last 2 trades early as I wanted to shut down the grid for now.
Currently I am looking at the GBP/USD, EUR/CHF, NZD/CHF and CAD/CHF pair. My next currency grid will likely be 1 of these 4. Hopefully next week my XAU and XAG trades will do better.
