end of another week.
And technically it's also end of the month for me personally, as Monday (and a part of Tuesday too?) Will be consumed by driving/moving in.
Today trading has been revolving around GBP, my decisions were GbpAud, and also for decrease exten GbpCad ( 1 odd EurUsd scalp).
Type of deja vu, originally little early, but overall quite respectable day in the end, the internet 28 pips value a decent 0.46%.
This subsequently help to lift this two days a week to get a 1.1%, what's just fine with me.
April as is, endings at 5.72%
April was a month of recovery, continued the gradual but steady day to day job that began after the two days back-to back DD of 28thFeb and 2ndMarch.
It's still not at its conclusion, by any means, and this TE account still reveals a -4.3% reduction for the year!
On the optimistic note, now only seen the 29th consecutive winning day ending, not my own personal best, but it's a promising one, particularly as during this period the worst DD remained within 2 percent.
I wanted to stage a slow, steady consistent recovery this time, cos the deeper back-to-back drawdown, and I am happy with the progress up to now.
I am blessed, because dont have instant money pressure on myself, and while desire to regain TE account naturally a little faster, on the other hand because my personal account balances the big picture rather well, and then assists maintaining a level head.
Also, while in the prop world drawdown isnt a positive occasion easy cos no HWM= no operation fees; exactly the same the capability to recover is obviously a confidence booster for both the prop company and possible prop opportunities, and of course the for the trader himself too.
Psy/Axi account needed a partial deposit a week which has done some great already, and even though there is still a drawdown there, I am near even on my total deposits today. In accore with the principles, May may observe a readjusting of my prop account there upwards to reflect the accession of equity ( current prop acct size probably should be moved to 50k..., principle: Axi funds = 5x of trader's own at current level).
If and that is a big IF likely! , things stay on track performance moves back to positive, it's a risk that things progress.
There is still plenty to do, and I am looking forward for what gambling in May brings. . .the goal is to BE for the year ( and of course then ultimately a new HWM), but the plan is flexible.
For the greater picture of the aforementioned, next the TE account I comprise a shot from the private one ( that you are carrying the majority of my trading funds).
happy weekend!
PS. Intending to write some thoughts on goals settings and motivation up as I see it today, a couple months down the road trading time, if time permits this weekend. Because the thread is quite, I think isnt considering these thoughts considerably, not that I am getting many technical concerns, lol.
PPS. Decided to draw some money. As looking to build up my trading equity, took time on this. But using a lengthy profit streak, taking out from busy trading circulation of ICM funds appear to be a fantastic precaution. Bank move out signify around 5.5% of total equity, leaving still enough to fulfill my target trading equity wants, but the same time cover a number of their ongoing and upcoming expenses.
Cash has a function in end of the day, and left some years ago the mistake not paying frequently ( and there we're on topic concerning the ongoing objectives and motivation...)