Review of last week:TFT Royal Pro 25k Phase 1 Review – Week 9
In Week 10, I made 17 trades, focusing on only the following 4 instruments:
- USDJPY
- EURUSD
- GBPUSD
- AUDUSD
I voluntarily took Tuesday off due to poor performance, so I only traded for 4 days this past week.
The week concluded with a net loss of $34.57 (-0.14%). My 5-day average profit per winning trade was $20.49, while my average loss per losing trade was $11.42.
My win rate for the 5 trading days was 29.4%, and my cumulative win rate now stands at 40.3%. The current drawdown on the account is -1.82%.
Conclusion of Week 11:
Monday: Three losses.
Tuesday: Took the day off.
Wednesday: One win, one loss.
Thursday: One win, four losses.
Friday: Three wins, four losses.
Review of This Week’s Performance:
This week's performance was even worse. I can feel my mindset starting to deteriorate a bit.
The fact that I've been treading water for ten weeks now is starting to make me impatient. I've usually focused on the nearest targets, but this week I kept looking at much larger, longer-term targets. Several times I saw winning trades reverse on me, ultimately resulting in breakeven or a loss.
On top of that, I took counter-trend trades, traded the Asia Session (which I usually avoid), and even over-traded.
The string of losses is a logical outcome.
Journaling: ✅ Completed.
Emotional control: ❌ Failed to control myself properly.
Eliminating wishful thinking: ❌ Failed to control myself properly.
Avoiding adding to losers: ✅ Achieved.
Awareness of High Impact News: ✅ Achieved.
Adherence to Trading Sessions: ❌ Participated in the Asia Session and London AM Session multiple times.
Limiting trade frequency: ❌ Failed to control myself properly.
Following Trading Rules: ❌ Failed to control myself properly.
Week 11 Goals:
I'm taking three days off, and with Thursday being the May Day holiday, I won't be able to check the market until Friday.
I need to remember the detrimental effects of an unstable mindset. My plan is to gradually build the account back up to $24,800 using 0.1% risk per trade.