The best week in trading life so far.
88% win rate in 25 trades
+176.5 pips
20% equity return
Noticeably, there's no big loss this week. In fact, there wasn't a single trade that triggered the SL.
3 losing trades, but 2 were closed manually and pre-maturely (would have been wins), and 1 was experimenting on playing the data, which turned out to be a very weak movement.
No doubt, there were luck factors. Most price movements were favourable, even though they might have moved into floating losses. Most trades hit TP in reasonably short time (all within one hour).
So what are the takeaways?
- I made some distinctions between S&R lines. Thinner line for near-term S&R, e.g. intraday or within a couple of days; thicker line for medium-term, i.e. tested by several day candles over weeks; thick and dark lines for long-term S&R, i.e. monthly candle or Bollinger Band.
- Trust the process more, trust the bounce and reactions at key levels
- Be more cautious with entry, although not saying I was overly cautious. Luck factor also meant that I didn't miss too many entries that I wanted
- When price gaps up or down, it really GAPS even if the candles are not showing it! Pending orders might be a few pips near current price level, but slippage due to data releases can move the entry by 50 pips.
- Come Friday night, I could really feel the fatigue, after being in the game for a week. Trading does take attention, focus and energy.
- Constantly reminded myself not to let arrogance creep in especially after a handful of wins.
- Still missed a few entries because I wasn't monitoring, and a few of those entries might not have turned out well... Luck factor.
Grade: A
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