This is where I share all my trades taken each and every week.
My reason for this is to encourage traders to also keep one for two major reasons:
- Track weekly trading performance.
- To have enough date 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 20/02/2023
AUD/USD (12.30 am)
Analysis: My reason for buying AUD/USD was shared in our weekly analysis
AUD/USD Update (10.30am)
My trailing SL got triggered and the trade was closed with +32 pips
USD/JPY (10.30 pm)
Analysis: Since last week the bulls have found it difficult breaking the light Salmon colored resistance zone.
We are a few hours away from the close of the daily candlestick, yet the zone stands. Also price is below the 200 ma, which gives the resistance zone more credibility
WEDNESDAY 22/02/2023
Analysis: Since last year December price was trapped within a consolidation. Tuesday’s daily candlestick closed with a dramatic bullish breakout of the key resistance zone and 200 ma. I will be expecting price to hit the green zone before the week run’s out
THURSDAY (23/02/2023)
GBP/JPY 7pm
Analysis: Locked -185 pips because price broke below the light Salmon colored support zone. This is a key indication that our SL will get hit, and it did get hit, so it was a good call
FRIDAY (24/02/2023)
USD/JPY (3.10 pm)
Analysis: I closed the trade at -150 pips. At this point there is already an invalidation of my analysis. We can spot a clean breakout of the 11 am candlestick and there is a huge probability that price will hit my SL.
Trade activity summary for the week
| DATE | PAIRS | BUY/SELL | PIPS MADE/LOST |
| MON (20/02/2023) | AUD/USD | BUY | + 32 pips |
| THUS (23/02/2023) | GBP/JPY | BUY | – 185 pips |
| FRI (24/02/2023) | USD/JPY | SELL | – 150 pips |
| TOTAL | – 303 pips |
In conclusion:
This week was extremely slow in the market. I started the week with a good call on AUD/USD, and I was happy the way I managed the trade.
I was dissatisfied with my GBP/JPY trade because I got in too early. Yes, price broke the 200 ma, but it was not neat. I depended on just price structure breaking an old resistance zone, neglecting the rookie break on the 200 ma (I will work on that in my next trades)
The USD/JPY was well executed but still went bad. I guess the market had the last laugh.
I had a very good opportunity to buy USD/JPY after I closed the bad trade, and I would have recovered from this week’s loss but I did not due to my rules which are:
- I mostly don’t trade on Friday’s and again
- The timing of the breakout on UJ is questionable
So I am closing with a loss for the week, but I am hopeful, we still got two more trading days in the month of February. Do have a great weekend and for my Nigerian brothers and sisters, do vote wisely
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