{"id":558,"date":"2025-04-13T12:40:31","date_gmt":"2025-04-13T04:40:31","guid":{"rendered":"https:\/\/www.egobusted.com\/?p=558"},"modified":"2025-04-13T12:40:33","modified_gmt":"2025-04-13T04:40:33","slug":"tft-royal-pro-25k-phase-1-review-week-8","status":"publish","type":"post","link":"https:\/\/www.egobusted.com\/en\/tft-royal-pro-25k-phase-1-review-week-8\/","title":{"rendered":"TFT Royal Pro 25k Phase 1 Review \u2013 Week 8"},"content":{"rendered":"<p class=\"translation-block\">Review of last week: <a href=\"https:\/\/www.egobusted.com\/en\/tft-royal-pro-25k-phase-1-review-week-7\/\" data-type=\"post\" data-id=\"548\" target=\"_self\">TFT Royal Pro 25k Phase 1 Review \u2013 Week 7<\/a><\/p>\n\n\n\n<p>In Week 8, I made 7 trades, focusing on only the following 3 instruments:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>XAUUSD<\/li>\n\n\n\n<li>GBPUSD<\/li>\n\n\n\n<li>AUDUSD<\/li>\n<\/ul>\n\n\n\n<p>I've been keeping an eye on other pairs, but haven't found any good targets or setups that I felt comfortable trading.<\/p>\n\n\n\n<p>No trades on Wednesday because I didn't see any decent trading opportunities all day.<\/p>\n\n\n\n<p>The week concluded with a profit of $71.88 (+0.29%). The 5-day average profit was $16.80, and the average loss was $28.92.<\/p>\n\n\n\n<p>The 5-day win rate was 85.7%, and the cumulative win rate is now 42.7%. The current account drawdown is -1.61%.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"\u7e3d\u7d50\">Summary of the week:<\/h2>\n\n\n\n<p>Monday: One win. Winning day.<\/p>\n\n\n\n<p>Tuesday: One win. Winning day.<\/p>\n\n\n\n<p>Wednesday: No trades.<\/p>\n\n\n\n<p>Thursday: Two wins, one loss. Winning day.<\/p>\n\n\n\n<p>Friday: Two wins! Winning day.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"\u5be9\u8996\u672c\u5468\u8868\u73fe\">Review of This Week\u2019s Performance:<\/h2>\n\n\n\n<p>Four consecutive winning weeks and a 6-day winning streak! With only one losing trade that hit my stop loss this week, my win rate has climbed to 85%. This level of performance is a first for me in all my years of trading, and it feels like I'm finally making real progress towards my goal: becoming a consistently profitable trader. This is definitely encouraging!<\/p>\n\n\n\n<p>However, I didn't handle that stop-loss trade particularly well. The tendency to hope for the best is still there. That losing trade brought my reward-to-risk ratio below 1.0. Although I still ended up in profit, the data doesn't look as good as it could.<\/p>\n\n\n\n<p>If I had avoided wishful thinking, my loss should have been just $15, instead of the full stop-loss of $28 (around 0.1% risk per trade). In that case, the reward-to-risk ratio would have stayed above 1.0, and things would \u201clook better\u201d.<\/p>\n\n\n\n<p>Journaling: \u2705 Completed.<\/p>\n\n\n\n<p>Emotional control: \u2705 Achieved.<\/p>\n\n\n\n<p>Eliminating wishful thinking: \u274c On Thursday's three trades, I exhibited wishful thinking twice. This led to reduced profits while 'in profit' and resulted in a Full SL while 'in a losing position'. Unacceptable.<\/p>\n\n\n\n<p>Avoiding adding to losers: \u2705 Achieved.<\/p>\n\n\n\n<p>Awareness of High Impact News: \u2705 Achieved.<\/p>\n\n\n\n<p>Adherence to Trading Sessions: \u2705 Achieved.<\/p>\n\n\n\n<p>Limiting trade frequency: \u2705 Achieved.<\/p>\n\n\n\n<p>Following Trading Rules: \u2705 Achieved.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"week-8-\u76ee\u6a19\">Week 8 Goals:<\/h2>\n\n\n\n<p>I need to remember the detrimental effects of wishful thinking. My plan is to slowly build the account back up to $24,800 using 0.1% risk per trade, and then consider increasing my position size.<\/p>\n\n\n\n<p>A while back, a friend mentioned getting stopped out quickly after entering with a limit order based on his trading strategy, which prompted me to reread \u201cPhantom of the Pits\u201d.<\/p>\n\n\n\n<p>Comparing it to my own trading strategy, I realized I'm already applying \u201cRule 1: Assume every trade is wrong until the market proves it right.\u201d.<\/p>\n\n\n\n<p>I haven't gravitated towards using limit orders; I typically enter with stop orders (my strategy isn't a breakout trade), so it seems this concept was already ingrained in my thinking.<\/p>\n\n\n\n<p>Rule 2 in the book is \"Pyramid your winners\" (add to winning positions). I currently use a fixed position size, so I need to consider whether incorporating the concept of adding to winners would be beneficial.<\/p>","protected":false},"excerpt":{"rendered":"<p>\u67e5\u770b\u4e0a\u661f\u671f\u7684\u56de\u9867\uff1aTFT Royal Pro 25k Phase 1 \u56de\u9867 \u2013 Week 7 Week 8 \u505a [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":494,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_gspb_post_css":"","footnotes":""},"categories":[50],"tags":[52,53,54,51],"class_list":["post-558","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-funded-trader","tag-challenge","tag-propfirm","tag-review","tag-tft"],"blocksy_meta":[],"_links":{"self":[{"href":"https:\/\/www.egobusted.com\/en\/wp-json\/wp\/v2\/posts\/558","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.egobusted.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.egobusted.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.egobusted.com\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.egobusted.com\/en\/wp-json\/wp\/v2\/comments?post=558"}],"version-history":[{"count":1,"href":"https:\/\/www.egobusted.com\/en\/wp-json\/wp\/v2\/posts\/558\/revisions"}],"predecessor-version":[{"id":559,"href":"https:\/\/www.egobusted.com\/en\/wp-json\/wp\/v2\/posts\/558\/revisions\/559"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.egobusted.com\/en\/wp-json\/wp\/v2\/media\/494"}],"wp:attachment":[{"href":"https:\/\/www.egobusted.com\/en\/wp-json\/wp\/v2\/media?parent=558"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.egobusted.com\/en\/wp-json\/wp\/v2\/categories?post=558"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.egobusted.com\/en\/wp-json\/wp\/v2\/tags?post=558"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}