My reason for sharing my trade journal is to encourage traders to also keep one for two major reasons:
- Track your weekly trading performance.
- 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 06/11/2023
GBP/USD (9.45 pm)
Analysis: My reason for selling was the fact that price hit a key resistance zone on the daily time frame, and on the 4 hour time frame a strong bearish pinbar gave us a sell opportunity.
TUESDAY 07/11/2023
GBP/USD update (9.45 pm)
Analysis: Closed at +47 pips after price hit my trailing SL
WEDNESDAY 08/11/2023
USD/JPY (10 am)
Analysis: Taking the trade because of the clean resistance zone breakout on the 4-hour time frame
USD/JPY update (12.50 pm)
Analysis: Trailing SL shut me out with +5 pips
GBP/CAD (10.39 pm)
Analysis: This is one setup I have been waiting for to materialize all week. My reason for buying can be seen on our Thursday Market Analysis
THURSDAY 09/11/2023
GBP/CAD Update (8.30 pm)
Analysis: I closed this trade manually with -76 pips loss.
AUD/JPY (10.30pm)
Analysis: My reason for selling is on our Thursday Market Analysis
FRIDAY 10/11/2023
AUD/JPY Update (4pm)
Analysis: Locked +5 pips with my trailing SL, and closed with +5 pips
Trade activity summary for the week
DATE | PAIRS | BUY/SELL | PIPS MADE/LOST |
MON (06/11/2023) | GBP/USD | SELL | + 47 pips |
WED (08/11/2023) | USD/JPY | BUY | + 5 pips |
GBP/CAD | BUY | – 76 pips | |
THUS (09/11/2023) | AUD/JPY | SELL | + 5 pips |
TOTAL | – 19 pips |
In conclusion:
It was a busy week in the market, but sadly, it did not translate to profits.
While I played a good game managing GBP/USD, USD/JPY and AUD/JPY, my reliance on GBP/CAD completely ruined my week’s profits, and took me back by – 0.8%.
GBP/CAD was an “A” setup that went bad, so I risked a little more than I should have done, but again the risk was well managed.
USD/JPY moved all the way to my intended profit target, but my trailing SL closed the trade prematurely.
AUD/JPY was well timed using my trailing SL, so no regrets
GBP/USD was a sniper entry and another A setup that did splendidly well
All in all, I will say that it was not a good week for me, but I am thankful for being disciplined enough not to lose more than I did.
Hopefully next week brings us better setups, and also the right mentality to manage them
How did your trading week go?
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