Forex Trading Journal

23 Sept 2022

22 Sept 2022 (Trade Example): GBPCAD

GBPCAD long trade om 22/9/22

- GBP was strong and majority of it pairs broke Asia session. Except for GBPJPY which show weakness, in this type of trade we can apply discretion when made decision.

- Entry:-

- Time of entry 6:06pm

- Max profits 2.41R

- Note: trade need to manage as at 7:00pm there was an important news release of interest rate for GBP. Trade should closed before news release.

22 Sept 2022

22 Sept 2022 (Trade Example): CHFJPY

CHFJPY long trade on 22/9/22

- CHF was the strongest currency across the board, all its pair broke New York session. But need to extra careful as SNB releasing the interest rate decision around 3:30pm time.

- Entry time 2:12pm

- Trade able to give max 3.41R profits.

Note: need to extra focus when pairs broke New York session as trade may get ready by Frankfurt or London opening. In this case good profit able to gain before it reverse after interest rate decision was announced.

21 Sept 2022: EURUSD

EURUSD short trade on 21/9/22

Pre-Analysis:-

- EUR was the weakest currency across the board. All EUR pairs broke Asia session.

- Strength meter

Entry:-

- Time of entry

- Risk 0.5%

- Target 1R (pre set target)

Post Analysis:-

- After I lost during London session, I took a courage taking another trade during New York session.

- This supposed to be a good mentality, You saw a set up and opportunity also understand deeply why You lost previously, then You took a trade based on set up.

- Previously trade was not on set up, my mistake to take that trade.

- An ability to distinguish wrong trade and prepared for another opportunity is vital on your trading journey.

- Just avoid trade without set up, avoid avoid avoid.