Trading Journal_Week 1

Updated: Aug 13, 2022

"We don't have to fear making mistakes.

Pair: GBPUSD
W/L: Loss
Strategy: there was not a firm S/R zone and not a clear lower high;
Psychology: I was too confident, then feeling frustrated and a little angry on me;
Risk management: well managed (2%);
Better if: wait for a lower low or have a firm S/R to put the safe SL. It was on Non-farm released, the market went crazy. However, the risk was well managed so just find another entry.
Overall: Fair

Pair: EURUSD
W/L: Loss
Strategy: A short with unsafe SL;
Psychology: I was too careless with the SL and I got angry on me when it hit the SL;
Risk management: Well managed (2%);
Better if: put the SL beyond the R/S zone and plus 2 pips. It's okay, I still can correct myself.
Overall: Bad

Pair: EURUSD
W/L: Win
Strategy: A short was made with all requirements and a safe SL was put (2 pips plus);
Psychology: I was a little frustrated when it pulled back to nearly hit the SL;
Risk management: well managed (2%);
Better if: Repeat the mantra "I am disciplined. So there is nothing to worry about. Turn off the app/chart, just resting and waiting. If it lost, just spot another trade.
Overall: Good

Pairs: XAUUSD
W/L: Win
Strategy: Entered a short limit with all requirements met;
Psychology: I got a little anxious when it pulled back to the entry price;
Risk management: well managed (2%);
Better if: Repeat the mantra "I am disciplined. So there is nothing to worry about. Turn off the app/chart, just resting and waiting.
Overall: Good

Pairs: GBPUSD
W/L: Loss
Strategy: Entered a short with all requirements, however, forgot to plus 2 pips for SL;
Psychology: I was mad for 5 minutes after SL. Actually, I wanted to revenge on GBPUSD for the previous loss;
Risk management: Not well managed. Although it was just 1%, there are 2 pending trades which account for 4% in aggregation;
Better if: Not entering this trade since it is over the risk limit. Remember to plus 2 pips for spread;
Overall: Fair