My reason for keeping a journal is to encourage traders to also keep one for two major reasons:
- Track weekly trading performance.
- have enough data, in order 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 19/06/2023
USD/CAD (7.50 am)
Analysis: My reason for selling was inspired from our weekly market analysis
USD/CAD Update (11 am)
Analysis: I trailed from here onwards. Price got few pips close to my tp, then gave a deep pullback which cleared my SL, to give me +13 pips
USD/CAD Re-entry (2..02 pm)
Analysis: Price rejection outside the descending channel, which now serves as a strong resistance zone gives me a bearish confirmation, hence my re-entry
TUESDAY 20/06/2023
USD/CAD Update
Analysis: SL got hit and I lost -51 pips
WEDNESDAY 21/06/2023
CHF/JPY (2am)
Analysis: The was inspired from our Wednesday market analysis
CHF/JPY Update (3 pm)
Analysis: Closed with +74 pips (trailing SL)
AUD/USD (2pm)
Analysis: A breakout below a key support zone was what inspired the sell
AUD/USD Update (6.30 pm)
Analysis: Manually closed with -41 pips
CAD/JPY (9.30 pm)
Analysis: My reason for buying can be seen in our Thursday market analysis
USD/CAD (9.30 PM)
Analysis: My reason for selling can be seen in our Thursday market analysis
FRIDAY 23/06/2023
CAD/JPY Update (11 pm)
Analysis: Closed the CAD/JPY trade with +243 pips. There were 3 positions in total
USD/CAD Update (11:15 pm)
Analysis: I am holding USD/CAD through the weekend. I am still very much bearish. hopefully it plays out next week
Trade activity summary for the week
DATE | PAIRS | BUY/SELL | PIPS MADE/LOST |
MON (19/06/2023) | USD/CAD | SELL | + 13 pips |
USD/CAD (Re-entry | SELL | – 51 pips | |
WED (21/06/2023) | CHF/JPY | BUY | + 74 pips |
AUD/USD | SELL | – 41 pips | |
CAD/JPY | BUY | + 243 pips | |
USD/CAD | SELL | PENDING | |
TOTAL | + 238 pips |
In conclusion:
It was a busy trading week for me, particularly on Wednesday. There were so many great setups to trade and less high impact news, and that’s where I thrive as a swing trader.
My best trade was obviously the CAD/JPY, however I never really expected much from it. I was actually hoping that USD/CAD will drop heavily and give me scaling opportunities, but the opposite happened.
If there is any lesson to be learnt from this week’s trading, it would be: “Having an open mind when trading the market”
If I was so focused on leveraging on the USD/CAD trade, I would have missed the opportunity CAD/JPY presented. So far, all my weeks in the month of June have been profitable
How did you trading week go?
NOTE:
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THE FUNDED TRADER: https://dashboard.thefundedtraderprogram.com/purchasechallenge-n/?sl=3322 (use the coupon code: THE0CRAFTER)
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MY FUNDED FX: https://myfundedfx.tech/purchasechallenge/?sl=758
- BESPOKE FUNDING PROGRAMME: https://www.bespokefundingprogram.com/The_Crafter?ref=The_Crafter