Checking in on last week's review: TFT Royal Pro 25k Phase 1 Review – Week 13
For Week 14, I took 16 trades, focusing on these pairs:
- EURUSD
- USDJPY
- GBPUSD
- XAUUSD
- US500
- BTCUSD
The week concluded with a net loss of $90.52 (+0.37%). My 5-day average profit per winning trade was $7.16, while my average loss per losing trade was $13.35.
My win rate for the 5 trading days was 37.5%, and my cumulative win rate now stands at 41.0%. The current drawdown on the account is -1.82%.
Performance was really bad.
Summary of the week:
Monday: One breakeven, seven losses.
Tuesday: Took the day off, no trades.
Wednesday: One breakeven.
Thursday: One breakeven, two losses.
Friday: Three wins, one loss.
Review of This Week’s Performance:
Monday was the first trading day after Moody's downgraded the US debt rating. I started entering trades right from the Asia Session, fixated on a “News Week Open Gap” (NWOG) that I wanted to see filled, rather than what the market was actually doing. This bias was detached from reality. It resulted in a significant loss, and I got a bit emotional.
That's why I took Tuesday off. The following Wednesday and Thursday were also quite difficult. It wasn't until Friday that I finally had a winning day.
Journaling: ✅ Completed.
Emotional Management: ❌ Felt tilted on Monday.
Eliminating wishful thinking: ✅ Achieved.
Avoiding adding to losers: ✅ Achieved.
Awareness of High Impact News: ✅ Achieved.
Adherence to Trading Sessions: ❌ Participated in the Asia Session multiple times.
Limiting trade frequency: ❌ The trading volume was too high, which affected my emotions.
Following Trading Rules: ⚠️ Didn't adhere to them on Monday, but did in the following days.
Week 15 Goal:
Gradually build the account back up to $24,800 using 0.1% risk per trade.