My Prop Challenge Adventure

[StebaTrade]

My last trade of last week was not a good one. Not just because it was a loss: mainly, because I took it while feeling the pressure to trade to cover my recent losses. And, of course, I made my loss worse.
I took a long position in EUR/USD while it was in a bearish trend. I was aware that the support level was a weak one and could have generated only a small reaction. That's why I used narrow stop and take profit levels. Yet, I took the trade in a situation where I should have selected only the best possible setups.

On Thursday, 14th May:
EUR/USD
Entry long @1.1670
S/L @1.1660, 10 pips
Target @1.1682, 12 pips, RRR 1.2
Stopped out @1.1660 for a 10 pip loss

 

[StebaTrade]

Wrap up of the week ending on 15.5.2026

The screenshot shows the entity of the loss incurred during the week. It does hurt, and it brings the balance to -1.8% since the beginning of the challenge. I had to reflect on the reasons that brought me to this point:

1. My trading strategy works relatively well in choppy/range-bound markets, and poorly in trends. That's my deliberate choice of strategy, and I took it knowing that markets are in a range for more time than in a trend. However, when a market starts trending, I should simply sit out and wait.
2. After my initial losses, I felt pressured to recoup them and took trades when I should have just waited.

That's a lesson learned the hard way.

I need to mention that on 20th April, I started an additional challenge with a futures prop firm. On this account, I trade the EUR/USD currency (the 6E contract) exclusively. So far, that challenge is going well, but I now realise that it has taken away focus and attention from my main FTMO FX challenge, and this might have contributed to the poor results of the last two weeks.

For this week, I am sitting out of the challenge. I plan to resume next week, after a much needed break.