Review of last week: TFT Royal Pro 25k Phase 1 Review – Week 5
In Week 6, I made 5 trades, focusing on only the following 2 instruments:
- USDJPY
- EURUSD
I sat out for two days this week. Monday, I just had a feeling the market wasn't worth touching, so I didn't even bother looking at the charts. Tuesday, I was out all day and couldn't keep an eye on things.
The week wrapped up with a small gain of $31.72, up 0.13%. My 5-day win rate was 60%, and my cumulative win rate is now 37.8%. Current account drawdown is sitting at -2.18%.
Conclusion of Week 6:
Monday: No trades.
Tuesday: No trades.
Wednesday: One break-even (BE), one win. Winning day. The BE trade could have been a partial take-profit (Partial TP), but I held onto hope that the price would push further, ultimately resulting in a break-even exit.
Thursday: One loss. Again, I held onto hope. After entering, the price action wasn't favorable, and I sensed trouble. However, I waited, hoping the price would gradually return to my direction. In the end, it was a full stop-loss (Full SL).
Friday: One break-even, one win. Winning day.
Review of This Week’s Performance:
This week, I managed to keep up the good performance. Compared to how I used to be, I'm much more 'detached' now – if I'm not looking at the charts, I'm just not looking. It's definitely taken a load off mentally.
However, I've realized my tendency to hang on to hope is still pretty strong, and I'm struggling to cut losses when things turn sour. I still have this hard time shaking the feeling that I'll miss out on a big move.
So, I'm adding a new item to my checklist: no more wishful thinking.
Journaling: ✅ Completed.
Emotional control: ✅ Achieved.
Eliminating wishful thinking: ❌ Initial awareness of wishful thinking.
Avoiding adding to losers: ✅ Achieved.
Awareness of High Impact News: ✅ Achieved.
Adherence to Trading Sessions: ✅ Achieved.
Limiting trade frequency: ✅ Achieved.
Following Trading Rules: ✅ Achieved.
Week 7 Goals:
Focus on yourself, get your mindset right, and the profits will follow.