What I have learned
This Month I had a huge progression, but I still have a lot to learn and improve on, and that’s okay.
This was the first month I was able to respect my strategy for the whole month and not switch it and try different things. I was able to keep just trading what I was good at and resist the temptation to try different stuff for fun or because it was cool. I saw the results of this small improvement.
This brings me to the second change I did to improve my trading, I started being calmer while trading and embracing the trade it was either a win or a loss, if you think about it, it doesn´t matter what happens, you have to trust your system and learn that you are not always gonna win, and that´s okay. You just need to figure out what works for you and do it for a very long time, in that process you will do small 1% improvements, and that’s where the magic is. You won’t find a perfect strategy for you, you will have to make it and that takes time and hours looking to price action, but you will learn how to react and what to do once your hedge in trading appears and how to block all the noise while the price isn’t good for you.
The third thing I learned was you don’t need to go to the small time frames to be profitable, that was a mistake I did for a long time, thinking I needed to go to the 15/5/1 min time frame to be profitable and that was just not the case. Once I stopped going to these small time frames and stuck to what I was good at, I started to see some profitability. Once again you won’t find a perfect strategy for you, you will have to creat it yourself.
Mistakes I made
One thing I keep messing with and I have to get better at is respecting my daily drawdown which is an important part of any strategy. For example, if I say my drawdown for that day is 2% I have to be able to once that target arrives to stop everything and stop looking for trades. That is one thing I need to improve.
Another thing I know I shouldn´t open trades during the Asian session, but I keep opening trades during this time frame just because sometimes it will end up profitable, that takes me to the third thing I need to improve on.
I need to be way better to get and record my trades data, I need to know for sure what session works better for me, and which pairs give a better edge for my trading, and that only happens if I have the raw data behind it, and I don’t mean I 20 or 30 trades, I mean in the long term which one pair and session give me a better edge. Don´t get me wrong I have a very good idea of what works for me and what is the best for me, but if I have the raw data behind me I think that will be a huge improvement.
In terms of goals achieved this was a great month, I was able to get 75k in funded accounts and do some withdraws with does accounts. This allows me to invest in bigger accounts and have exponential improvement.