EmTrading@EmTradiing
Weekly Recap - Week 16
+1.58% for the week.
This was a very similar week to the last one.
The only difference was me sticking to last weeks' takeaways and managing my risk / positions much better.
As a result, I took a few small, calculated losses, a few stops at BE and then a couple of decent winners - things I've been talking about last time - and this was enough to put me in the green for the week, which wasn't the case last time.
Image of a GBPUSD short I executed gives a good picture - I took a small loss before capitalising on the move down fairly well.
I'm not focusing on the outcome and definitely not forcing anything just to have a positive week.
But to me, these 14 days really illustrated the point of strict, consistent RM.
As for setup selection, I've spent a decent amount of time backtesting again.
It's like putting in more reps at the gym.
I strongly recommend anyone suffering from the itch to do something (since we're conditioned to believe that the only type of work is active work), which in trading environment equals to forcing unnecessary trades, to use and abuse fxreplay in times of boredom where no quality setups present themselves.
It really scratches that itch well, helps you practice reading PA & managing trades, and the best part of it all is that your active / prop accounts remain safe from being sabotaged by boredom.
Overall: +8.96% since starting weekly recaps.