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.
MONDAY 04/12/2023
EUR/CHF (3.30 am)
Analysis: Our Weekly market analysis inspired the buy
EUR/CHF Update (9.25 am)
Analysis: I was kicked out of this trade by my trailing SL. I closed with +27 pips
TUESDAY 05/12/2023
GBP/JPY (5:15am)
Analysis: Our Tuesday market analysis inspired the buy
GBP/JPY Update (11am)
Analysis: The 11am rejection candlestick encouraged another buy entry
WEDNESDAY 06/12/2023
GBP/JPY Update (11:30 pm)
Analysis: I closed the trade manually and took a -215 pips loss on both trades
THURSDAY 07/12/2023
GBP/CHF (7:45am)
Analysis: My reason for selling is due to the clean daily breakout of price through the key support zone
GBP/CHF Update (1.45 pm)
Analysis: I manually closed the trade with -48 pips
Trade activity summary for the week
| DATE | PAIRS | BUY/SELL | PIPS MADE/LOST |
| MON (04/12/2023) | EUR/CHF | BUY | +27 pips |
| TUE (05/12/2023) | GBP/JPY | BUY | – 215 pips |
| TUE (07/12/2023) | GBP/CHF | SELL | – 48 pips |
| TOTAL | – 236 pips |
In conclusion:
Three weeks of winning streaks ended this week. It was an awesome run, but there was a lot to learn from this week
Lesson 1: I fell in love with the GBP/JPY trade. Despite the fact that the trade gave me ample opportunities to exit, I did not. Entitlement crept in, and the trade expired on me.
Lesson 2: The GBP/CHF trade was a solid setup, but I did not settle down to do a proper, extensive analysis of where CHF/JPY was at the time. It happened that CHF was already weak, and a drop was imminent. So the loss I also took on GBP/CHF was avoidable
I lost at least -1.5% to -2% in trading capital this week due to my entitlement. Looking back now, its all clear. Looking forward to next week
How did your trading week go?
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