Checking in on last week's review: TFT Royal Pro 25k Phase 1 Review - Week 16
For Week 17, I took 13 trades, focusing on these pairs:
- XAUUSD
- USDJPY
- EURUSD
- AUDUSD
The week wrapped up with a net profit of $12.63 (+0.05%). My 5-day average profit per winning trade was $10.63, while my average loss per losing trade was $10.30.
My win rate for the 5 trading days was 53.8%, and my cumulative win rate now stands at 42.9%. The current drawdown on the account is -1.36%.
Summary of the week:
Monday: One win.
Tuesday: Couldn't find any trading opportunities, so no trades.
Wednesday: One breakeven, one win, three losses.
Thursday: Three losses.
Friday: Four wins.
Review of This Week’s Performance:
This past Wednesday, I was a bit lenient with myself, taking two trades I really shouldn't have. That turned it into a losing day. I "saw" potential targets and thought the market would reach them, which essentially turned into "trading what I think." That's not good!
Thursday also involved bad trades. Thankfully, I was able to make up for it on Friday.
Good setups are found by waiting for them. Initially, I couldn't find any setups at all, and I couldn't even decide on a bias. However, after 10:00 AM NY time, the market conditions started to clear up, allowing me to find some setups. All four of those trades were exited early for profit; I didn't capture the entire move, but I'm okay with that. My goal is profit, not pinpoint accuracy. For trading to be successful, precision is an "extra requirement," not a "minimum requirement."
Journaling: ✅ Completed.
Emotional control: ✅ Achieved.
Eliminating wishful thinking: ✅ Achieved.
Avoiding adding to losers: ✅ Achieved.
Awareness of High Impact News: ✅ Achieved.
Adherence to Trading Sessions: ✅ Achieved.
Limiting trade frequency: ⚠️ I took a bit too many trades, and increasing my volume when I was already losing did a lot of damage. On Friday, I even questioned whether I should be trading at all.
Following Trading Rules: ✅ Achieved.
Week 18 Goal:
Waiting for A+ setups to achieve positive growth in Week 18.