4th Trading Week (22nd – 26th of January, 2024 trade journal)

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

  1. Track your 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.

 

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:

Check out our mouth-watering discounts on any of the proprietary firm’s challenges:

 

 

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *

error

Enjoy this blog? Please spread the word :)