The following are the results for this past week. I took my first 3 trades at the end of my coaching session with Emmanuel. He wanted to make sure I understood the money management principles and how to calculate the correct position size based on the 1% risk per trade. Of the first 3 trades, only 1 triggered and it was a losing trade. Many people would begin to get scared off with their first trade losing.
After I got home I spent a lot of time reviewing my notes. I did not take a great number of trades as I wanted to get used to the set-ups and ensure I knew how to calculate position size based on risk, etc. The following 2 trades were winners. The 2 after that were losers and the last trade was a winner. So I had an equal number of winners and losers and ended up the week with a small loss of 0.3%. During training they told us that most students usually break even in their first month as they are getting used to the new trading platform, strategies and money management. And they expect us to make mistakes as we learn.
I am not discouraged at all. As I stated before, there was a big focus on trading psychology and mindset. Also, I did make some mistakes. Two of the trades I took, I really shouldn't have. I realized after I had already placed the trades. I learned from my mistakes. My goal is to end my first month with profit. I am hoping to show a gain next week. However, with next week being Christmas week, I do not expect too any trading opportunities. I expect the market to be flat and I will be traveling for a few days next week.
Winners: 3
Losers: 3
Non-Triggered: 10
Winning Percentage: 50%
Profit/Loss Percentage: -0.3%
Here's to your success!
Bill McManus
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Bill McManus