I started this Phase 1 Challenge on February 14th, which was a Friday, and I included it in Week 1 for easy calculation.
Week 1 was a bad start. I made a total of 19 trades.
I had 7 positive exits, with a win rate of only 36.8%. The final result was a loss of $292.7 (-1.17%). It was a week of more losses than wins."
I only traded five different instruments.
- WTIOIL
- XAUUSD
- USDJPY
- EURUSD
- XAGUSD
Currently, I don't plan to trade indices because the volatility is a bit high, and I can't quite grasp it.
Conclusion of Week 6:
Initially, I planned to build my feel for the market, so I operated with a 0.2% risk. Normally, I would use a 0.5% risk. However, after three consecutive losses, I decided to further reduce the risk, lowering it to 0.1%
Of the 7 winning trades, 3 were during the London Session, and 4 were during the NY AM Session.
The NY AM Session trades tend to reach the take-profit (TP) more easily. The London Session trades take a much longer time.
What I did well:
- Most of my trades were based on sound reasoning.
- I only made 1-2 trades per day, avoiding emotional trading.
- Risk management was in place—despite more losses than wins, I only ended the week down -1.17%.
Areas for Improvement:
- Avoid adding positions. I added positions 3 times, and all 3 were unsuccessful.
- Pay close attention to High Impact News. I ignored upcoming High Impact News twice.
- Respect Trading Sessions. I ignored the Trading Session once, making a trade at NY 4PM.
- Complete the Trading Journal promptly. Filling it out retrospectively is time-consuming.
Week 2 Goals:
My current goal is to maintain a 0.1% risk and bring the account back to the starting value of $25k.
I will focus on improving the areas identified in Week 1, striving to achieve more winning days.
查看 Week 2 的回顧：Review of TFT Royal Pro 25k Phase 1 – Week 2