Forex Trading Journal

11 Sept 2022

9 Sept 2022: AUDUSD

AUDUSD long trade on 9/9/22

Pre-Analysis:-

- USD was the weakest currency across the board. All USD pairs broke New York session.

- Strength meter

- Now consider also risk factor, as the higher time frame (universe above) was under seller's territory. So buy in this case will be temporary or counter trend and support by session breaks only. This trade should not be hold longer and will set at fix 2R profits taking.

Entry:-

Post Analysis:-

- Trade hit intended profit of 2R, target has been pre-set.

- This trade I monitor closely as I do not want to loose. I reduce risk as price went on my favor and set to break even when it passed slightly above 1R profit.

- At this point I monitor the small range that develop and ready to close if it show price break below that small range. When price broke above that range I just let the price hit the target.

- I took this trade with high caution as this involve a certain risk as the higher time frame under seller's territory.

9 Sept 2022

8 Sept 2022 (Trade Example): USDCHF

USDCHF short trade on 8/9/22

- CHF was the strongest currency across the board. All CHF pairs broke either New York or Asia trading session.

- Trade able to get 2R profits.

- Time of entry approx. 6:18pm

8 Sept 2022

7 Sept 2022 (Trade Example): CADJPY & CHFJPY

CADJPY and CHFJPY long trade on 7/9/22

- JPY was the weakest currency across the board. All JPY pairs broke New York session.

CADJPY:-

- Entry during London session, approx. time 5:06pm

- Max profits around close to 5R.

- In the real trade I may be close at 3R (as shown on the 3 minutes chart)

CHFJPY:

- Time of entry approx. at 3:48pm

- In real situation maybe I exit at 0.89R profits only (as shown on 3 minutes chart)

- Max profits around 5R.

- The reason I missed these two trades was, I caught sleeping during the first 3 hours of London session due to fatigue. I am unable to prepare my day until around 6 to 7pm. What a big missed.