Hey everyone!
While doing my weekly self-review I figured since I’m already sharing the trades and thoughts I have while taking the $100k funded account challenge, I might as well share my weekly self-reviews, so, there you have the first one, enjoy!
As the first trade week after over 2 years without manual trading, it was quite an interesting one. The main lessons I’ve learned were:
- A common situation in many trades was executing the position and noticing patterns afterward, in some cases in favor of the trade idea, and in some other cases against it.
To improve on this during the upcoming trading week I will study the charts even more closely for additional patterns before rushing to execute a trade that is either way planned to run for days at the minimum.
- The EURAUD trade was a clear example of FOMO, it is indeed a good trade setup, however, I rushed to execute the position while actively scouting lower and lower time-frames to make it work instead of waiting.
To improve on this during the upcoming trading week I will actively remember that a good trade will stand out on the chart, if I have to search a lot to justify taking it, it shouldn’t be taken at all.
Overall, I’m very excited about the first funded account challenge, and I’m also very proud of myself for my discipline, for the systems I’ve built to journal, and for properly tracking not only my trades but also the key insights I gain from them to become a better trader.
Since the trades are taken with a mid to long-term outlook, aside from the FOMO EURAUD trade, everything is still running. So, the summary for this week is:
Total trades: 6
Closed trades: 1
Running trades: 5
Closed P/L: ~ -1%