My Trading Journal – Week of June 15, 2015

In tandem to my last posting, the week that followed was not a very promising week for my trading. 

Started with GBPJPY pair on June 16, H1 chart showed potential sell trading at around 11:00 ~ 12:00 hours. Entered at 192.41 about an hour later, a risky entry in fact, as MN, W1 and D1 charts showed uptrends. I was right, my trade was taken out about two hours later at 193.06 with a total loss of 65 pips.

On June 18, tried to trade for EURUSD while out for lunch but did not feel it was a viable trade after entering, closed off the trade with 1 pip. On the same day, traded GBPJPY again for a short trade.  Entered at 194.83, with target profit of 31 pips set at 194.52, it was taken about an hour later.

On June 19, traded USDCAD for a long trade. Made two entries for this trade at 1.2233. (Total of four entries shown above, two of them were correction entries for my lot size. Yes, made a mistake again as mentioned in my previous post). This was, to me, another risky entry. While H4 time frame showed that it was a buy trade, D1 chart indicated that it was a down trend whereas H1 chart showed ranging was taking place at that point of time. Set my first TP for 15 pips at 1.2248, which took a while to hit. Price only took momentum after the American markets opened. Second target of 34 pips was achieved an hour after the first target. So USDCAD gave me a total of 49 pips.

Tried another short trade for GBPJPY again later that night. Price did eventually go my way, but given it was already quite late at my time zone, I just closed it off taking 1 pip and retired for the night.

This is my short journal for my trading for the past week. As I did not take as many trades as the week before, barely broke even after suffering some losses early of the week on GBPJPY.

Happy trading.