Thursday 25th of July.
-700$ I could have avoided just by following Will and Slope Rider signals!
Overtrading…old enemy of mine are you back?!
Friday 26th of July.
-4500$ with a silly pointless trade.
I’m not going to focus too much on the technical mistakes I made, let’s focus on the lessons to be learned:
- I became overconfident thanks to the past winning days, made silly mistakes, over-traded, didn’t follow my strategy, now: you might think this will never happen to you, and I certainly hope so, but it’s more common that you might imagine unfortunately. I’m also pretty tired in this period, make sure to be at your best when trading, and if you feel less than so perhaps take a day off, remember: don’t work hard, work smart! After all after such a great start to the challenge I could have rewarded myself with a day off right? I sure wish I did now…
- I show in the video how the Slope Rider gave me good signals and just by copying Will in the Retailfade room I would have made no losses but nice profit, so I’m reassured that my strategy is valid. (Will made 20pts on Thursday,no trades on friday but great trading plan in the room)
- A few lesser known but great rules by FTMO: the non trailing max drawdown, the free 2nd chance to re-enter the challenge, and the scaling plan. Check them out! This is why I truly believe FTMO has in its best interest to help you become a successful trader!
- Get your psychology right! I’m reading a book by Steenbarger at the moment, brilliant work! I also truly enjoy the work by Stefano Fanton especially his Trader Samurai book, and Vita Da Trader by Elena, she has plenty of material including interviews to traders, but also courses, I must admit I’m not a student of hers, I wish I was…perhaps in the near future.
- Also some exercise for your mind (I’ve been a bit lazy lately and I’m paying the price for it), Headspace is a great app with tons of material.
Remember the mantra:
Every donation is being useed to improve this website.