Hello Traders!
I hope you have had a great week.
Mine was alright, but lack of opportunities due to price not having much momentum during my session was a killer.
Let me explain.
(Tools I have used this week will be featured at the bottom of the blog – including discounts!)
Live Trading Info
EURUSD
London Session
FTMO funded account start balance = $50,000
Risk per trade = 0.5% of account balance (z)
Take profit target = 3.3x (or 2x) risk per trade (y)
Risk:Reward ratio = z:y
Trading Performance
I won’t dive into the days like I usually do because there’s nothing to say about each day – aside from Monday and Friday which were no trade days (Monday = Bank Holiday, Friday = USD CPI).
Price action has been moving along this week but during my session time, there was little directional conviction and momentum.
I know I have made the mistake before of saying this and later seeing where I could have found an entry but this week is different.
Unless I am wrong and just found this week more challenging than others I am not sure but I still reside in the former camp.
Despite there being no trades from poor price action, I am glad that I didn’t become controlled by the negative trading demons of FOMO, greed, impatience, etc and force an entry so I have technically acted as a professional trader for this week.
Professional trading = defence > offence
Key Takeaway for the Week
It is unfortunate that nothing appeared this week but this is a natural and expected part of trading.
Market dynamics will change throughout the years and I am currently in the midst of that.
Hopefully this doesn’t go on too much longer as I will have to adapt my strategy to these conditions but we will see.
I am patient.
[Apologies for this week’s overview being shorter than usual! As you can imagine it’s hard to write about something when not much happened.]
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As promised, here are the tools I have used this week and a discount code for Magic Keys:
- Magic Keys (for 25% off, use code: MKMETEORTRADINGFX)
- TradingView
- FTMO (funded account challenge)
Check out the Tools page for more info
Thank you for taking the time to read this blog post, it means a lot to me.
See you next week and happy trading!
