34th Trading Week (21st – 25th of August, 2023 trade journal)

My reason for sharing my trade journal is to encourage traders to also keep one for two major reasons:

  1. Track weekly trading performance.
  2. Build a better psychology, which will sharpen your trading intuition

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

 

MONDAY 21/08/2023

NZD/USD (5am)

Chart showing my entry trade on NZDUSD

Analysis: The inspiration to sell the NZD/USD came from our Weekly Market Analysis

 

 

TUESDAY 22/08/2023

GBP/CAD (9.50 pm)

Analysis: The inspiration to sell the GBP/CAD came from our Weekly Market Analysis

 

 

WEDNESDAY 23/08/2023

GBP/CAD update (11.30 am)

Analysis: Closed this trade with +94 pips using a trailing stop loss. The sharp bearish move was fostered by the PMI news on GBP

 

 

THURSDAY 24/08/2023

NZD/USD Update (10 pm)

Exit trade on NZD/USD

Analysis: NZD/USD was an extremely annoying trade. I took it on Monday, only for it to tie my capital down for over 3 days without profits. I had to exit the trade because it had surpassed it’s shelf life. I closed with -9 pips

 

GBP/USD (10.15 pm)

My entry trade on GBPUSD

Analysis: The inspiration to sell the GBP/USD came from our Friday Market Analysis

 

 

FRIDAY 25/08/2023

GBP/USD Update (5.55am)

My exit trade on GBPUSD

Analysis: Woke up to see profits on my GBP/USD trade, so I locked +26 pips…. Yes its an aggressive trailing SL, but I was fully aware of the high impact news scheduled later in the day, so my thinking is: Take what the market has to give me, be thankful and call it a week

 

Trade activity summary for the week

DATE PAIRS BUY/SELL PIPS MADE/LOST
MON (21/08/2023) NZD/USD SELL  – 9 pips
TUES (22/08/2023) GBP/CAD SELL  + 94 pips
THUS (24/08/2023) GBP/USD SELL  + 26 pips
TOTAL  + 111 pips

 

In conclusion:

I was less active in the market this week, for there were fewer setups for me. If you notice, I kept on feeding (trading setups) from the weekly analysis I shared last week Sunday.

This week I was happy the way I managed all my trades. NZD/USD cost me time, so I exited when it was close to breakeven. GBP/CAD could have made me more pips if I had held it for one more extra day, but duuuuuuuuude. I am not here to catch the entire trend (lol). If that happens every once in a while, fine. All I focus on is making my own share of the profits spilled.

My GBP/USD was a gamble, but a calculated one. I knew high impact news were lined up for Friday, also I don’t trade most Friday’s, so I just wanted a few pips before 2pm Friday. Well, I got blessed early Friday, and I took what the market offered.

It’s a difficult time to trade, due to the summer break, so I am grateful for closing in profits.

How did your trading week go?

 

NOTE:

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