The "Total Weekly Profit or Loss" in forex trading refers to the overall profit or loss generated from all your trading activities during a single trading week. It's calculated by summing up the profits and losses from each trading day within that week. This metric provides a comprehensive view of your trading performance over the entire week.
Here's how to calculate the Total Weekly Profit or Loss:
1. Daily Profit or Loss: Calculate the profit or loss for each trading day of the week. This is done by subtracting your total losses from your total gains for each day. The formula for daily profit or loss is:
Daily Profit or Loss = Total Gains - Total Losses
2. Sum the Daily Results: After calculating the daily profit or loss for each trading day within the week, sum up these daily results. This will give you the Total Weekly Profit or Loss for that particular trading week.
Total Weekly Profit or Loss = Sum of Daily Profit or Loss for the Week
For example, if your daily results for a trading week were as follows:
- Monday: +$200
- Tuesday: -$100
- Wednesday: +$300
- Thursday: -$50
- Friday: +$150
The Total Weekly Profit or Loss for that week would be calculated as follows:
Total Weekly Profit or Loss = $200 - $100 + $300 - $50 + $150 = $500
So, in this example, you would have a Total Weekly Profit of $500 for that trading week.
Tracking your Total Weekly Profit or Loss is essential for assessing your trading performance over a specific period and evaluating your progress toward your trading goals. It provides a clear overview of how successful your trading activities were during that week and helps you make informed decisions to improve your trading strategy.
