Review of last week: TFT Royal Pro 25k Phase 1 Review – Week 4
In Week 4, I made 13 trades, focusing on only the following 3 instruments:
- XAUUSD
- USDJPY
- EURUSD
The week concluded with another loss of $111.35 (-0.63%). The 5-day win rate was 30.8%, and the cumulative win rate is now 34.4%. The current drawdown is -2.28%, continuing the downward trend.
Conclusion of Week 6:
Monday: A win and a loss, resulting in a slight net loss.
Tuesday: Two wins, including one trade that hit the take-profit target. A winning day overall.
Wednesday: No setups identified - no trades taken for the entire day.
Thursday: Six trades, six straight losses. Emotional trading took over, leading to three revenge trades. This was my worst performance day in recent weeks.
Friday: One win and two losses, but still managed to close the day with a profit.
Review of This Week’s Performance:
If we exclude Thursday, the week wasn’t too bad. However, that one day really dragged everything down.
Journaling: ✅ Completed. Thoroughly documented the week's challenges.
Emotional management: ❌ Poor performance here—I let emotions take over, leading to impulsive and revenge trading, especially on Thursday.
Avoiding adding to losers: ✅ Achieved.
Awareness of High Impact News: ✅ Achieved.
Adherence to Trading Sessions: ✅ Achieved.
Limit trade frequency: ⚠️ I still violated this rule, particularly on Thursday with 6 trades.
Follow Trading Rules: ❌ Poor performance here. I failed to execute partial take-profits on several occasions, which resulted in trades that could have been profitable ending up as break-even.
Week 5 Goals:
This week, my primary focus remains on mastering the fundamentals. Consistent adherence to my trading rules is the key to becoming a consistent trader. Profitability will naturally follow. I aim to successfully execute all 7 areas of improvement throughout Week 5.