21 Feb 2023: GBPCHF

 GBPCHF long trade on 21/2/23

Pre-Analysis

Entry

- VSA chart system

- Time of entry 4:08pm

- Risk 0.25%

- Exit plan, TP @ previous day high for 1.88R profits.

Post Analysis

- Closed trade with profits 3.79R

- The best trade so far this year. Need more trade like this.

- Follow all trading plan/checklist.

- Need improvement on taking profits.

- I felt my focus was better compared to previous trade.

- Trade impacted by important news event for GBP related to data PMI: flash manufacturing and flash services. Released at 5:30pm

 

- Price after trade was closed

- Got issue with closing trade, feel that trade closed affected by fear, a fear that I might lose these profits.

- Can we use correlation and strength of currency to close trade? If can how can it be done?

- Max possible profits at the end of today's trading day 7.32R

- I missed big profits!

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

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

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.