Without it you’ll never be a good trader.
So, for as hard as it might be, I have to admit to myself that I am not 100% at this time, with some personal issues stressing me out and a lot of accumulated fatigue, I am not trading well this volatile market.
It’s enough to look at the equity line to see it.
So I’m taking advantage of FTMO brilliant rule: second chance for free!
If you don’t break any rule and the balance is positive, you get a second chance to enter the challenge FOR FREE.
So I will rest and wait out this remaining week…
Monday 5th of August.
-900$ ! Damage control in a -100 points day!
I admit I’m not very good at trading trend days; and today in the RetailFade room we got in the wrong side of it. Lessons to learn here:
- We aimed at half a gap fill, which means for ES to retrace up to 2898; this didn’t happen in the first hour so the probability got lower then.
- RetailFade IS NOT a room for signals and you should not copy his trades, because we all have different risk to manage.
- Will recognized the divergence in cumulative delta respect to price, so he repeated many times in the room that at some point, perhaps the next day, price would have retraced back up.
- I controlled my risk, recovered half the loss, closed the platform: if you don’t feel confident in the market and have no edge, just get out!
Tuesday 6th of August.
-4500$ I should have reduced the size of my trades, as simple as that.
Price overnight recovered 100 points, Will actually re-entered long in the night at break of an important level, and he closed the day with +60 points or so…just manage your risk properly, and you can close any day in profit! Easy right? With his 20+ years of experience yes…
Today we expected price to retrace up and go for the half gap close, 2898, or at least 2880; it struggled but it did so.
I didn’t make the most of it because I traded 1/2 size but with such volatility it meant I lost 4k by the time price started its move.
Remember the mantra:
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