As the title suggests, I had my first bad trading week in a while. I use risk management and risk reward on each trade so luckily I did not take much of a hit. I had two SLs hit, closed two trades at about -30 pips each and closed the remaining with small profit before the market closed. Overall I am down 100 pips this week. I cleared all my charts and did a fresh analysis of all my pairs because I find that looking at my old analysis can make it hard to let go of old biased in a changing market. Next week I will start fresh and forget about this week so that I do not venture into revenge trading.
Been there done that. All in a days work. It’s good to evaluate why your trades were not successful. However you need to evaluate in an honest way. Was the trades you took valid entries, were they high probability or low probability trades?? Did you enter too late or too early?? Were there revenge trades or were they well thought out trades??
I have a trading journal programme called Edgewonk. It allows me to grade trades and record all the information that I stated in the previous paragraph so that when I review at the end of the week I can then assess from a realist perspective. It also allows me to make a statement that I can review every day that reminds me of what I need to do to trade successfully.
Cheers
Blackduck
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