30 May 2023 (Trade Example): EURAUD

 EURAUD long trade on 30/5/23

- Entry time 6:00pm

26 May 2023: EURUSD

 EURUSD short trade on 26/5/23

- Entry time 2:00pm

- Risk 0.25%

- Exit plan, TP at 1.068 approx. 5.26R

- Lost trade

23 May 2023: CADCHF

 CADCHF long trade on 23/5/23

- Entry time 2:00pm

- Risk: trade with minimum lot size (0.01) as I am waiting of the possibility USDCHF short trade. This made me plan to split the risk rather than taking 1 trade with normal 0.25% risk.

- Exit plan: TP at 0.671 for approx. 5R

Post Analysis

- Stop out.

- Should not be a trade. Price drift lower from initial sign of strength (SOS). On higher time frame price show downtrend, taking long would be a risky trade.

- Price after trade stopped out.

19 May 2023 (Trade Example): EURCAD

 EURCAD long trade on 19/5/23

- Entry time 2:00pm

17 May 2023 (Trade Example): GBPUSD

 GBPUSD short trade on 17/5/23

- Entry time 12:00pm (Asian trading session)

- Note: missed this trade, not at my trading desk. I only started my day around 1 hour before Frankfurt open (1:00pm)

16 May 2023: EURUSD

 EURUSD short trade on 16/5/23

Pre-Analysis

Entry

- Time of entry 8:00pm

- Risk 0.25%

Post Analysis

- Closed this trade with profit.

- However I exited just to recover the lost trade on previous trading day.

- Stop need to be tighten up, use confirmation indicator to place stop in this case use no demand bar and stop can be placed a bit high.

Update: -

- Missed a very good trade. Trade able to give max. 6R profit until 19/5/23. What a miss.

15 May 2023: USDCHF

 USDCHF long trade on 15/5/23

Pre-Analysis

Entry

- Entry time 5:00pm

- Risk 0.25%

                          

Post Analysis

- Lost trade

- Timing was off. Sign of strength was there but no confirmation or price/market still not ready to rise.

- Be patient. The sign of strength (3) in pre-analysis chart indicate it should be test with shakeout or test, then wait for those indicator to a arrive in the chart.  

- Should wait for confirmation and this lost can be avoided.

- Price after trade stop out.

12 May 2023 (Trade Example): EURUSD

 EURUSD short trade on 12/5/23

- Entry time 3:00pm

- Possible max profit 3.9R

12 May 2023 (Trade Example): NZDCAD

 NZDCAD short trade on 12/5/23

- Entry time 9:00am (Asia trading session)

- Possible max profit 11.35R

11 May 2023 (Trade Example): NZDUSD

 NZDUSD short trade on 11/5/23

- Possible 2 entries for this trade.

- First trade entry time around 2:00pm, trade then can be closed at 2.74R profit following strength indicator and standby for news release related to USD at 8:30pm

- Second  trade entry time around 9:00pm after news release and got confirmation on weakness. As at this time of writing profit hit 4.64R

Update:-

- Trade able to achieved 5.97R max profit at the end of 12/5/23 trading day.

10 May 2023 (Trade Example): EURJPY

 EURJPY short trade on 10/5/23

- Entry time around 8:00pm

- Max profit 5.22R end of trading day.

- Price continue to drop the next trading day, boost profit beyond 5R.

Update: -

- Price dropped until hit max. 10R profit at the end of next trading day (11/5/23).

 

8 May 2023: EURCHF

 EURCHF short trade on 8/5/23

Pre-Analysis

- EUR shows weakness and CHF shows strength according to respective futures chart. Therefore short trade for EURCHF was a possible option.

Entry

- Time of entry 11:29pm

- Risk 0.25%

- Timing entry using hourly chart (based on hourly indicator)

Post Analysis

- Scratch trade with small profit.

- Not confident as price went down slowly, thinking it might not work.

- Timing was off this time as price move and give approx. 1.6R profit max.

Update: -

- Price at the end of 9/5/23 trading day.

8 May 2023: GBPJPY

 GBPJPY long trade on 8/5/23

Pre-Analysis

- Saw JPY group in downtrend with pullback (which indicate JPY in weak condition). Decided to look into JPY pairs.

- GBPJPY in uptrend, this will go into long trade in respond to JPY weakness.

- Lower timeframe got sign of strength (no supply)

Entry

- Time of entry 5:45pm

- Risk 0.25%

- Exit plan, TP @ 172.37 roughly 6R.

Post Analysis

- Lost, trade went to 1.4R before turn back.

- I move stop to half of the risk as per my trade management practice.

- Should I consider to take profit at 1R. It seem a lot of time my trade decision able to reach 1R.

- I need to research more on taking 1R profit and see the win probability. 

Trading Result: 1-5 May 2023

 

- Missed 3 good trades. There was potential more profit can be achieved should I trade those missed trades.

5 May 2023 (Trade Example): EURCAD

 EURCAD short trade on 5/5/23

- Entry time 3:15pm

- Note: yet again I missed this trade. I spot the weakness in EUR group but only look and consider EURJPY, EURCHF and EURNZD for a short trade. I did not look into this EURCAD until the trade performed then, realised I have missed this trade.

4 May 2023 (Trade Example): CHFJPY

 CHFJPY short trade on 4/5/23

- Yen group shows strength, the focus on taking JPY pairs was highly possible.

- CHFJPY on downtrend, during Asia session price pullback and has opportunity to continue drop.

- Trade possible at 2:30pm during early Frankfurt session.

- Note: I missed this trade. Although I am aware of Yen strength but I did not see CHFJPY instead focus on  AUDJPY. It end up AUDJPY did not give me clear entry indication and there was no trade for that pair either.

- The missed cost me roughly 3R profit.

- Next time need to look at all pairs in particular currency group. In this case I should look into all JPY pairs.

3 May 2023: USDJPY

 USDJPY short trade on 3/5/23

Pre-Analysis

- JPY shows strength with possible absorption volume set up. There was also change in behaviour from downtrend to uptrend.

- Volume was climactic.

Entry

- Time of entry 2:58pm

- Risk 0.25%

- Exit plan: TP @ around 3R profit

Post Analysis

- Closed with profit. Exit when price hit my exit plan. Will not be able to monitor USD interest rate decision.

- Some spike of price during news event (ADP NFP result) but I manage to stay calm and hold my trade. At that particular time I already move my stop to breakeven.

- Next support area probably at 134.500 but I already decided to close as per my exit plan.

- Closed at 2.88R profit, max profit end of day 4.71R

- Price volatile during FOMC news event, in some cases it might stop out a trade.