13th trading week (27th – 31st of March 2023 trade journal) • Crafting pips

My reason for keeping a journal is to encourage traders to also keep one for two major reasons:

Track weekly trading performance.
To have enough date to be able to work on their trading technique and psychology

Both can only be done when you keep a comprehensive journal, and review it every week.

MONDAY (27/03/2023)

USD/CAD (6.15 am)

Sell trade of the US dollar against the Canadian dollar

Analysis: My reason for selling USD/CAD can be seen on our weekly market analysis

USD/CAD Update (10.05 am)

Analysis: I added a second trade at the close of the 6 am candlestick

USD/CAD Update (2 pm)

Analysis: I started trailing with the close of the 10am CS. Price finally hit my trailing SL, and I closed with +55 pips

CHF/JPY (8.20 pm)

Analysis: My reason for selling CHF/JPY can be seen on our Tuesday market analysis

TUESDAY (28/03/2023)

CHF/JPY (5 am)

CHF/JPY update (8.30 am)

Closed the trade with +58 pips

USD/CAD (10.10 am)

Analysis: I have decided to buy the USD/CAD because the bullish engulfing candlestick popped up at a key support zone, and some pips away from the 200 ma. Moreover if you check the daily time frame, the USD/CAD is ranging, so I am capitalizing on that fact.

Note: I am planning to exit the trade before 3 pm (high impact news on the USD)

USD/CAD Update (10.50 am)

Analysis: Decided to place a tight stop loss not just because of the news, but also because of the 200 ma on the 1hr tf. Trade closed at breakeven

AUD/JPY (2.05 pm)

Analysis: Candlestick formation suggesting weak buyers within a key resistance zone encouraged the sell. Again I will be holding this trade till 1 am (Asian session) due to CPI news on AUD

AUD/JPY Update (3.52 pm)

Analysis: I manually exited AJ a few minutes before the close of the 1-hr CS. Closed with -100 pips loss

WEDNESDAY (29/03/2023)

GBP/USD (6.05 am)

Analysis: This trade was inspired by our Wednesday market analysis. One thing to note is that I did not sell the USD/CAD setup shared on Wednesday setup because of the poor R/R. Instead, I opted to buy GBP/USD since there is a viable setup with a better R/R

GBP/USD Update (11.08 am)

Analysis: After price almost taking out my SL, the close of the 9am and 10am candlestick on the 1- hour time frame gave us renewed hope. After price took out the previous high made by Tuesday close of the daily candlestick, I scaled in

GBP/USD Update (2.30 pm)

Analysis: No news, but for some funny reason price decided to fall flat after breaking the previous high. I closed the trade manually, a few pips before I got stopped out. Lost -70 pips

THURSDAY (30/03/2023)

AUD/JPY (10.00 am)

Analysis: My reason for buying AUD/JPY can be seen on our Thursday market analysis

AUD/JPY Update (6.30 am)

Analysis: I exited the AUD/JPY trade with -22 pips loss. The trade spent over 7 hours without making any significant move. Meanwhile NZD/JPY, CAD/JPY, CHF/JPY, EUR/JPY and GBP/JPY moved really well today. I guess sometimes a shitty day can’t be helped

Trade activity summary for the week

DATE	PAIRS	BUY/SELL	PIPS MADE/LOST
MON (27/03/2023)	USD/CAD	SELL	+ 55 pips

	CHF/JPY	SELL	+58 pips


TUE (28/03/2023)	AUD/JPY	SELL	– 100 pips

WED (29/03/2023)	GBP/USD	BUY	– 70 pips

THUS (30/03/2023)	AUD/JPY	BUY	-20 pips

		TOTAL	– 77 PIPS

In conclusion:

I went hard this week, and that can be seen in my multiple scaling in and scaling out, but the market had other things in mind.

My last two trades (GBP/USD and AUD/JPY) ought to have been winners if I had not tried any scaling in methods. In trying to to scale in and scale out, your stop lose will become tighter in order to accommodate more open positions.

So if I had NOT gone hard and there were no SCALING IN AND OUT trades in place, my large stop loss would have accommodated the huge pull backs of the market, and I would have closed with just one loss (Tuesday trade)

I lost a little over -2% this week

Trade activity summary for the month

1st TRADING WEEK

DATE

PAIRS

BUY/SELL

PIPS MADE/LOST

WED (01/03/2023)

EUR/CHF

BUY

+ 46 pips

NZD/JPY

BUY

Pending

FRI (03/02/2023)

GBP/CHF

SELL

Breakeven

TOTAL

+46 PIPS

2nd TRADING WEEK

DATE

PAIRS

BUY/SELL

PIPS MADE/LOST

MON (06/03/2023)

EUR/CHF

BUY

– 24 pips

EUR/CHF

SELL

– 35 pips

Last week’s trade

NZD/JPY

BUY

– 212 pips

TUE (07/03/2023)

GBP/USD

SELL

+ 19 pips

WED (08/03/2023)

AUD/JPY

SELL

+ 185 pips

AUD/USD

SELL

Breakeven

TOTAL

– 67 PIPS

3rd TRADING WEEK

DATE

PAIRS

BUY/SELL

PIPS MADE/LOST

MON (13/03/2023)

CAD/JPY

SELL

+82 pips

GBP/JPY

SELL

-57 pips

TUE (14/03/2023)

CAD/JPY

SELL

+202 pips

WED (15/03/2023)

CHF/JPY

SELL

Breakeven

THUS (16/03/2023)

USD/JPY

BUY

-189 pips

FRI (17/03/2023)

NZD/USD

SELL

Breakeven

TOTAL

+ 38 pips

4th TRADING WEEK

DATE

PAIRS

BUY/SELL

PIPS MADE/LOST

MON (20/03/2023)

GBP/CHF

BUY

+ 5 pips

GBP/USD

BUY

– 48 pips

TUE (21/03/2023)

EUR/CHF

BUY

Breakeven

WED (22/03/2023)

GBP/JPY

BUY

-116 pips

TOTAL

-179 PIPS

5th TRADING WEEK

DATE

PAIRS

BUY/SELL

PIPS MADE/LOST

MON (27/03/2023)

USD/CAD

SELL

+ 55 pips

CHF/JPY

SELL

+58 pips

TUE (28/03/2023)

AUD/JPY

SELL

– 100 pips

WED (29/03/2023)

GBP/USD

BUY

– 70 pips

THUS (30/03/2023)

AUD/JPY

BUY

-20 pips

TOTAL

– 77 PIPS

GRAND

TOTAL

– 315 PIPS

1st QUARTER RESULTS

JANUARY	PIPS MADE/LOST
Total Pips lost	– 426 PIPS

FEBRUARY	PIPS MADE/LOST
Total Pips lost	– 362 PIPS

MARCH	PIPS MADE/LOST
Total Pips lost	– 315 PIPS

Q1 GRAND TOTAL	– 1,103 PIPS

For the 1st quarter I am down by -4.45%. My biggest losing Month was March. In a bid to close my first quarter in profits, I closed in more losses than I would usually have. This is a huge inspiration for me.

I am grateful for all the lessons the market presented to me in the first quarter. Looking forward to a better 2nd quarter.

How did your go?

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