Check out last week's recap: Review of TFT Royal Pro 25k Phase 1 – Week 2
In Week 3, I made 13 trades. This week, I did not trade XAGUSD, focusing on the following 4 instruments:
- XAUUSD
- USDJPY
- GBPUSD
- EURUSD
The week concluded with another loss of $156.27 (-0.63%). The 5-day win rate was 33.3%, and the cumulative win rate is now 36.2%. The current drawdown is -1.83%, a continuing decline.
I need to seriously reflect on how to improve.
Conclusion of Week 4
Monday: One win, one loss, no profit.
Tuesday: Entered two trades without waiting for the 5-minute MSS to appear, violating my trading rules.
Wednesday: One trade, winning day.
Thursday: 6 trades, repeated the mistake of "entering without waiting for the 5-minute MSS," and exhibited emotional trading, engaging in two revenge trades. Attempted one swing trade (holding for 24 hours) and exited with a stop loss.
Friday: Traded USDJPY during the Asia Session, exited with a stop loss.
Review of This Week’s Performance:
Journaling: ✅ I consistently updated my journal, documenting the struggles and mistakes of the week.
Emotional management: ❌ Poor performance here. I let emotions take over, leading to impulsive and revenge trading.
Avoid over-leveraging: ✅ I stuck to my position sizes and didn’t add to losing trades.
Respect High-Impact News: ✅ I avoided trading during high-impact news events.
Respect Trading Sessions: ❌ I failed here, especially with the USDJPY trade during the Asia session.
Limit trade frequency: ⚠️ I started well but still ended up over trading on Thursday.
Follow trading rules: ❌ I repeatedly violated my rules, particularly by entering trades without the 5-minute MSS setup.
Week 4 Goals
Focus on self-improvement rather than immediate profits or losses. Aim to consistently execute the 7 identified areas for improvement throughout Week 4.