Another week of trading is done. This time around, we are reviewing the first week of following the additional risk management rules.
Days of trading: 5/5
I traded 5 out of 5 possible days.
Rules followed: 5/5
Following the simple risk management rules is critical for maintaining my account and sanity. I have implemented even stricter risk management rules as of this week.
Profit / Loss on the week: -13.53%
The account went from 5537.71 DKK at the beginning of the week and ended at 5463.62 DKK. That’s a negative return of -74.09 DKK equal to -1.34%.
I have withdrawn 2.5% of the account as per the business plan. I have now also added more funds to get back on track with the scaling plan.
| Friday of the trading week | 18 August 2023 |
| Account balance start | 5537.71 DKK |
| Profit / Loss | -74.09 DKK |
| Account balance end | 5463.62 DKK |
| ROI | -1.34% |
Thoughts on the week
This is the first week trading with the additional risk management rules laid out in last weeks update. The new rules dictate using RSI as a directional guide, and only risking 1% per trade.
I am OK with the performance of this week. It is a step towards stopping the bleeding. Will be exciting to see how it plays out in the future.