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.
WEDNESDAY 24/01/2024
GBP/JPY (7.30am)Analysis: My reason for selling can be seen on our Wednesday Market Analysis
GBP/JPY Update (5.50 pm) Update
Analysis: Trailing SL got hit, and I closed with +19 pips
EUR/CHF (10.30 pm)
Analysis: My reason for selling was due to four reasons
- There was a strong bearish move on the daily time frame
- A key support zone was breached
- 200 ma breached
- Broken structure (ascending expanding channel)
THURSDAY 25/01/2024
EUR/CHF Update (1.20pm)
Analysis: I had to manually close my sell trade with a -30 pips loss because of the high impact news on Euro
Trade activity summary for the week
DATE | PAIRS | BUY/SELL | PIPS MADE/LOST |
WED (24/01/2024) | GBP/JPY | SELL | +19 pips |
EUR/CHF | SELL | – 30 pips | |
TOTAL | -11 pips |
In conclusion:
Price was quite unpredictable this week. There were a lot of back-and-forth movements, which disturbed a lot of trend traders.
I followed my rules, but STILL closed with a -0.8% loss on my accounts. If I had not followed my rules, I would have closed the week in profits because the EUR/CHF trade I left before the high impact news still came back into profits
This trading week is another testament that your trading rules will only serve you long-term, not short-term.
How did your trading week go?
NOTE:
-
THE FUNDED TRADER: (Use the coupon code: THE0CRAFTER)
- BESPOKE FUNDING PROGRAMME
- FUNDED ENGINEER
- BLUE GUARDIAN (Use the coupon code: CRAFTER)
- GOAT FUNDED
- LARK FUNDING
- SKILLED FUNDED TRADER
- MAVEN TRADING
- MY FLASH FUNDING (Use the coupon code: “FILLIPO” for a -25% discount)
- THE5ERS