22nd trading week (29th – 31st of May, 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 (29/05/2023)

AUD/USD  (4 am)

Analysis: My reason for selling can be seen on our weekly market analysis

CAD/JPY  (4 am)

Analysis: My reason for selling can be seen on our weekly market analysis

TUESDAY (30/05/2023)

AUD/USD Update (2.00 pm)

Analysis: I trailed AUD/USD, and closed the trade with +15 pips

CAD/JPY Update (6 pm)

Analysis: A strong bullish pinbar on an area of support inspired another sell opportunity

WEDNESDAY (31/05/2023)

AUD/USD (7am)

Analysis: The sell was inspired by the AUD/USD setup in our weekly market analysis. All I did was hunt for a sell opportunity on the 4 hr time frame

CAD/JPY Update (7am)

Analysis: After scaling in, CAD/JPY got stuck at the 103.545 resistance level, and this is my screenshot price getting to my set SL

AUD/USD Update (7am)

Analysis: Closed with -113 pips. This loss would have been completely avoidable if I had trailed my win

WEDNESDAY (31/05/2023)

CAD/JPY Update

Analysis: Closed both positions at +40 pips. Only my first entry counted here, My second entry was where price got trapped. That was position closed that breakeven

Trade activity summary for the month

In conclusion:

This week CAD/JPY could have yielded more profits if I held on to it till the last few hours before the close of markets on Friday, but I did not because of the high impact news on USD. the AUD/USD could have also closed in little profits if I decided to trail… This I regret, because I could have closed the week in profits

Also I noticed that I had significantly more trades in the month of May (21 trades) than the month of April (12 trades). In retrospect, after my first flawless trading week, I should have taken my foot off the gas for the rest of the month. That alone would have put me in good profits.

I am closing the month with a breakeven. My lesson this month in the market is: Profitable trading most times is actually trading less.

How did the month of May in the market go for you?

NOTE:

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