20 Feb 2023

20 Feb 2023: EURJPY

 EURJPY short trade on 20/1/23

Pre-Analysis



-VSA chart system: -


Entry

- Strength meter



- Time of entry 7:21pm
- Risk 0.25%
- Exit plan @ 142.885 for approx. 1.4R profits

Post Analysis

- Trade stop out
- Full risk
- My state of mind was I am not sure whether to scratch this trade or not. I am not certain what was the right decision. (Time was around midnight).
- Correlation strength was not favoring JPY during New York trading session. It was dropped during London session but lost momentum when New York open.


- Price after trade was closed













19 Feb 2023

17 Feb 2023 (Trade Example): AUDCAD

 AUDCAD long trade on 17/2/23



- VSA chart: -


- Entry: -


- Entry time 10:50pm
- Possible max profits 2.67R








18 Feb 2023

17 Feb 2023: CADJPY

 CADJPY short trade on 17/2/23

Pre-Analysis



Entry


- Entry time 4:34pm
- Risk 0.25%
- Exit plan @ 99.600 for approx. 1.29R

Post Analysis

- Scratch the trade with small profits.
- Reason for scratch, correlation between CAD and JPY was very close (both currencies equally strong).
- I did not check correlation between the two before entry and also did not refer to VSA chart system.
- I am under pressure as price barely move to downside and this led me to scratch this trade.
- If made entry later at New York session, chances are there to collect profits probably more than 2R.
- During New York session VSA chart system also shows clear picture on where this pair headed to.
- I missed this opportunity again to make profit.
- I believed this trade taken under FOMO state of mind.
- I need written trading plan/checklist now. Always refer checklist before made an entry. Get it done now.
- TIMING is my biggest issue.


- VSA chart system for better timing of entry


- Price hit max profits of 2.5R
- Also, I marked ideal entry point during New York session.













17 Feb 2023

16 Feb 2023 (Trade Example): USDCAD

 USDCAD long trade on 16/2/23



Entry: -


- Entry time 5:20pm
- Max possible profits up until 16 Feb. trading day 6.9R