8 Aug 2022: GBPCAD

 GBPCAD short trade on 8/8/22

Pre-Analysis:-

- Both currency on the weakest side across the board. But I still want to trade this as I saw price structure seem to be on the downside. There was breach of price to downside in fact some strong breach. Although correlation did not support this trade but I took the risk and only plan to take profit at 1R only.

- Trade during New York session approx. time of entry 10:00pm

Post Analysis:-

- I closed this trade with profit, reach 1R as intended.

- But I made one very silly mistake, I wrongly calculate trade size it suppose to be around 0.22 standard lot but I entered trade with 0.09 standard lot only.

- I loss opportunity to hit around maybe $29 profit as this mistake.

- Need to focus more and check everything before made an entry.

- In term of trade as I couldn't find any pairs suitable to trade then I try this pair. I am correct on the analysis but in term of execution I made a mistake.

- Chart when trade was closed:-

Trading Results: 1-5 Aug 2022

 This is trading results from 1-5 August 2022

- Got 1 trade that I missed and will give me 2R profit.

- Overall improvement compare to last week with roughly losing $44.

5 Aug 2022: AUDNZD

 AUDNZD short trade on 5/8/22

Pre-Analysis:-

- Correlation reading shows NZD was the strongest currency across the board. AUD weak if compared to NZD.

- Entry during London session, time of entry 4:41pm

Post Analysis:-

- Trade closed with small loss.

- Price dropped after I made entry until reach approx. 1R profit. Along the way I move stop a little bit to mitigate the risk.

- During New York opening price showed some aggressive reversal, then I decided to close the trade with a loss approx. $7

- Nothing I can do as price unable to reach intended 2R profit.

- But the way I manage this trade make this trade loss only minimum amount, this kind of management will save my account. Keep trying overall good and improve trading week.

 

4 Aug 2022 (Trade Example): EURNZD

 EURNZD short trade on 4/8/22

- Correlation wise NZD stronger than EUR, and EUR was the weakest currency across the board. Target profit for this trade could be 2R. Entry during Asian session approx. time 8:40am

Update:- 

- Trade able to give 2R profit.

- I missed this trade due to lack of preparation on Asian session.

- I hesitate to take this trade as I am late to do my analysis. Start early then.