Headland Research First Light · a daily market briefing

Track record

Every idea First Light posts is tracked here on a simulated paper book — win or lose, no cherry-picking.

Track record — simulated paper bookas of 2026-07-03
$3,666
Realised P&L
56.2%
Win rate
1.89
Profit factor
81
Trades closed
−7.0%
Max drawdown

Simulated paper account — launched 6 May 2026 with a notional $10,000, every idea tracked win or lose. Simulated results have inherent limitations and do not represent actual trading. Past performance is not a reliable indicator of future results. See the full record →

By instrument

InstrumentTradesWinsWin rateP&L
XAUUSD 19 14 74% +$2,202
USDJPY 13 9 69% +$766
NZDUSD 4 3 75% +$520
ETHUSD 16 8 50% +$322
EURUSD 7 4 57% +$289
BTCUSD 8 3 38% +$102
GBPUSD 4 1 25% −$125
AUDUSD 8 3 38% −$194
GBPJPY 2 0 0% −$216

Every closed trade

81 trades
ClosedInstrumentSide EntryExit P&LRExit
2026-06-22 XAUUSD Short 4,166 4,166 +$89 +0.65 BE_STOP
2026-06-22 ETHUSD Short 1,717 1,740 −$137 −1.00 SL
2026-06-19 ETHUSD Short 1,723 1,668 +$237 +1.77 TP2
2026-06-19 EURUSD Short 1.15 1.15 +$95 +0.71 BE_STOP
2026-06-18 XAUUSD Short 4,283 4,326 −$132 −1.00 SL
2026-06-18 ETHUSD Short 1,755 1,700 +$275 +2.08 TP2
2026-06-17 ETHUSD Long 1,786 1,763 −$134 −1.00 SL
2026-06-17 EURUSD Long 1.16 1.16 −$134 −1.00 SL
2026-06-17 XAUUSD Short 4,349 4,349 +$98 +0.73 BE_STOP
2026-06-16 USDJPY Long 160.25 160.13 −$138 −1.00 SL
2026-06-16 XAUUSD Short 4,321 4,335 −$138 −1.00 SL
2026-06-15 ETHUSD Long 1,804 1,784 −$138 −1.00 SL
2026-06-11 ETHUSD Short 1,606 1,640 −$147 −1.06 SL
2026-06-11 NZDUSD Short 0.58 0.58 +$66 +0.48 BE_STOP
2026-06-11 USDJPY Long 159.98 159.98 +$72 +0.56 BE_STOP
2026-06-11 USDJPY Long 160.28 159.95 −$134 −1.00 SL
2026-06-11 EURUSD Short 1.16 1.16 −$132 −1.00 SL
2026-06-10 XAUUSD Short 4,105 4,025 +$246 +1.77 TP2
2026-06-09 ETHUSD Long 1,695 1,655 −$132 −1.00 SL
2026-06-09 XAUUSD Short 4,357.5 4,357.5 +$85 +0.66 BE_STOP
2026-06-09 XAUUSD Short 4,349 4,349 +$144 +1.09 BE_STOP
2026-06-09 AUDUSD Short 0.71 0.71 +$81 +0.61 BE_STOP
2026-06-09 XAUUSD Short 4,271 4,215 +$485 +3.63 TP2
2026-06-07 EURUSD Short 1.16 1.15 +$378 +3.23 TP2
2026-06-07 BTCUSD Short 62,200 63,200 −$129 −1.00 SL
2026-06-06 USDJPY Long 158.49 160.3 +$197 +1.97 TP2
2026-06-06 NZDUSD Short 0.59 0.58 +$307 +2.63 TP2
2026-06-04 BTCUSD Short 67,550 63,500 +$282 +2.44 TP2
2026-06-04 BTCUSD Short 63,950 63,950 +$73 +0.59 BE_STOP
2026-06-03 GBPJPY Long 215.13 214.8 −$116 −1.00 SL
2026-06-03 USDJPY Long 159.88 159.45 −$116 −1.00 SL
2026-06-03 XAUUSD Short 4,497.5 4,430 +$340 +2.94 TP2
2026-06-03 ETHUSD Short 1,848 1,848 +$115 +0.97 BE_STOP
2026-06-03 XAUUSD Short 4,462.5 4,462.5 +$61 +0.51 BE_STOP
2026-06-02 XAUUSD Short 4,494 4,516 −$117 −1.00 SL
2026-06-02 ETHUSD Short 2,004 1,945 +$246 +2.11 TP2
2026-05-28 EURUSD Short 1.16 1.16 +$77 +0.67 BE_STOP
2026-05-28 XAUUSD Short 4,481 4,400 +$222 +1.93 TP2
2026-05-27 USDJPY Long 158.83 159.04 +$214 +1.86 TP2
2026-05-27 ETHUSD Long 2,085 2,060 −$115 −1.00 SL
2026-05-27 BTCUSD Short 74,525 75,150 −$115 −1.00 SL
2026-05-27 BTCUSD Short 74,525 75,150 −$115 −1.00 SL
2026-05-26 XAUUSD Long 4,550 4,550 +$87 +0.75 BE_STOP
2026-05-26 ETHUSD Long 2,110 2,094 −$115 −1.00 SL
2026-05-24 ETHUSD Long 2,065 2,065 +$66 +0.58 BE_STOP
2026-05-24 USDJPY Long 158.76 158.76 +$40 +0.35 BE_STOP
2026-05-22 AUDUSD Long 0.72 0.71 −$119 −1.00 SL
2026-05-22 XAUUSD Long 4,540 4,524 −$119 −1.00 SL
2026-05-22 EURUSD Long 1.16 1.16 −$119 −1.00 SL
2026-05-22 BTCUSD Long 77,625 77,100 −$119 −1.00 SL
2026-05-21 ETHUSD Long 2,120 2,120 $0 0.00 BE_STOP
2026-05-21 USDJPY Short 158.95 159.22 −$100 −1.00 SL
2026-05-20 XAUUSD Short 4,582.5 4,480 +$254 +2.54 TP2
2026-05-20 AUDUSD Long 0.71 0.71 −$98 −0.98 SL
2026-05-20 USDJPY Long 158.75 158.75 +$36 +0.36 BE_STOP
2026-05-20 GBPJPY Short 213.13 213.57 −$100 −1.00 SL
2026-05-19 NZDUSD Short 0.59 0.58 +$247 +2.47 TP2
2026-05-18 AUDUSD Long 0.72 0.72 −$100 −1.00 SL
2026-05-18 GBPUSD Short 1.34 1.34 −$100 −1.00 SL
2026-05-15 AUDUSD Long 0.72 0.72 −$100 −1.00 SL
2026-05-15 USDJPY Long 157.15 158.5 +$165 +1.65 TP2
2026-05-15 AUDUSD Short 0.73 0.73 +$98 +0.98 BE_STOP
2026-05-15 USDJPY Long 157.85 158.6 +$167 +1.67 TP2
2026-05-15 GBPUSD Long 1.34 1.34 −$100 −1.00 SL
2026-05-15 BTCUSD Long 80,950 79,500 −$100 −1.00 SL
2026-05-14 USDJPY Long 156.25 158.2 +$180 +1.80 TP2
2026-05-14 NZDUSD Long 0.59 0.59 −$100 −1.00 SL
2026-05-14 BTCUSD Short 81,950 79,500 +$325 +3.25 TP2
2026-05-14 USDJPY Long 157.59 158.2 +$183 +1.82 TP2
2026-05-14 ETHUSD Long 2,265 2,265 +$103 +1.03 BE_STOP_GAP
2026-05-13 XAUUSD Short 4,750 4,685 +$176 +1.76 TP2
2026-05-13 XAUUSD Short 4,746 4,690 +$410 +4.10 TP2
2026-05-12 ETHUSD Long 2,326 2,326 +$36 +0.36 BE_STOP
2026-05-12 GBPUSD Long 1.36 1.36 −$100 −1.00 SL
2026-05-12 AUDUSD Short 0.72 0.73 −$100 −1.00 SL
2026-05-11 XAUUSD Long 4,687.5 4,687.5 +$112 +1.12 BE_STOP
2026-05-11 GBPUSD Long 1.35 1.36 +$175 +1.75 TP2
2026-05-08 AUDUSD Long 0.72 0.72 +$144 +1.44 TP1
2026-05-08 EURUSD Long 1.17 1.18 +$125 +1.25 TP1
2026-05-08 ETHUSD Short 2,301.5 2,278 +$162 +1.62 TP1
2026-05-07 XAUUSD Short 4,700 4,725 −$100 −1.00 SL

Fills at zone midpoint on touch; P&L on a fixed ~1%-risk sizing. Simulated results — see the disclaimer below.

Every idea, marked to market.

This is the record. Read a free sample, then subscribe for the ideas behind it.