14th trading week (03rd – 07th of April 2023 trade journal)

My reason for keeping a journal is to encourage traders to also keep one for two major reasons:

1. Track weekly trading performance.
2. have enough data, in order 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 (03/04/2023)

GBP/USD (6.10 am)

Analysis: Price breakout of a key support zone  was a confirmation that the bears were dominating the market

GBP/USD Update (10.50am)

Analysis: SL got hit. -71 pips

GBP/CAD (2.40 pm)

Analysis: This trade was taken from our weekly market analysis

WEDNESDAY (05/04/2023)

CAD/JPY (10 am)

Analysis: Reason for selling CAD/JPY can be seen on our Wednesday market analysis

THURSDAY (06/04/2023)

CAD/JPY Update (5 pm)

Closed at breakeven. 

SATURDAY (08/04/2023)

GBP/CAD Update

Analysis: I am still holding my trade on GBP/CAD. We can see buyers desperately trying to break the 200 ma and the key resistance level. We will see how the weeks ahead will affect this setup

Trade activity summary for the week

In conclusion:

I closed the first week of the first quarter with a minor loss on the GBP/USD sell trade.

Overall, this should be my most inactive week in the market this year. Reason for this was:

1. High impact news scattered all through the week in the economic calendar 
2. The Easter Holiday brought about early low liquidity in the market, and
3. There were no top notch setups that was worth my time and energy

I would rate the week a good one, especially being patient with the market and not forcing a trade.

Closing with a -0.48% for the week and a pending trade that is currently negative may not look like a good week, but trust me, it’s how you are able to manage bad days/weeks/months in the market that will ultimately make a huge difference when your winning streaks return.

How did your trading week go?

NOTE:

• FIDELCREST: https://fidelcrest.com/#CRAFTER
• THE FUNDED TRADER: https://dashboard.thefundedtraderprogram.com/purchasechallenge-n/?sl=3322 (use the coupon code: THE0CRAFTER)
• MY FUNDED FX: https://myfundedfx.tech/purchasechallenge/?sl=758