33rd Trading Week (14th – 18th of August, 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 14/08/2023

EUR/CHF (6am)

Analysis: This trade was inspired from our Weekly Market Analysis

EUR/CHF update  (1.20 pm)

Analysis: I exited this trade just a few hours after I took it, after seeing how the 1 hour candlestick closed with a gravestone doji. I was glad I left with +15 pips from both positions, because the trade completely reversed

USD/JPY  (10.30 pm)

Analysis: This trade was inspired from our Weekly Market Analysis

GBP/JPY  (10.30 pm)

Analysis: This trade was inspired from our Weekly Market Analysis. I forgot to take a screenshot of my trade on Monday evening (lol), so this chart was from the following day when I scaled in on it. 

TUESDAY 15/08/2023

GBP/JPY Update (12.15 pm)

Analysis: I closed both positions when I noticed the trade had gone beyond it’s shelf life (+45 pips & -30 pips = +15 pips ). GBP/JPY was closed at breakeven, even though we closed with net positive pips

USD/CAD  (10.50 pm)

Analysis: This trade was inspired from our Wednesday Market Analysis.

WEDNESDAY 16/08/2023

USD/CAD Update  (4.15 pm)

Analysis: Tight trailing stop loss was applied on the USD/CAD because of the FOMC meeting news, so I closed with +18 pips

USD/JPY Update  (4.15 pm)

Analysis: Tight trailing stop loss was applied on the USD/JPY because of the FOMC meeting news, so I closed with +24 pips

NOTE: Both USD/JPY and USD/CAD did not react to the news release (lol). USD/CAD would have hit my target profit and USD/JY would have made much more pips if I had held it until Friday. But it izzzz what it izzzz. 

THURSDAY 17/08/2023

GBP/CAD (2.01 pm)

Analysis: This trade was inspired from our Wednesday Market Analysis.

GBP/CAD Update (9.30 pm)

Analysis: GBP/CAD closed at breakeven after hitting my trailing SL

Trade activity summary for the week

In conclusion:

This was an unusually busy trading week for me. The good part is: It was a flawless trading week (All trades were in profits)

That said, I left a lot of money on the table be exiting trades before high impact news release, which had no effect in this week’s market.

How do I deal with it, you may ask?

Well, rules in trading are there to serve you. They may not work 100% of the time, but I can assure you that if you took 100 trades, and maintained your rules all through, you will be way better of  in terms of being consistently profitable, than if you didn’t.

I am pumped that the week closed in profits (the first profitable week in the month of August), and I am believing that the following weeks will be a lot better.

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
• BESPOKE FUNDING PROGRAMME: https://www.bespokefundingprogram.com/The_Crafter?ref=The_Crafter