I am starting to grow as a beginner trader, and I like to share the small wins with everyone.
GBPJPY
has been a pair I have been studying for the past 180 days. It has been on a massive bull market for the past 60 days, creating new highs this par has not seen in eight years. This week overall has been very profitable. I still have to manage to learn how to stick to my trading plan. It is just like a car, I have to inspect under the hood, the tires, and mirrors, weather conditions, and most of all, have a destination.
before I pull out of your driveway, and get on the highway! This trade was an easy 1:2 risk-reward ratio. The small wins count.
In conclusion, I'd like to share my trading journal entry...
DID I FOLLOW MY PLAN?
Yes. I exercised bank zones properly.
I followed the overall trend
Set my take profit 1:2
WHAT DID I DO WELL?
1. Let The Trend Be My Friend.
2. Traded the pair in USA session.
3. Exercised good risk management, by setting a Take Profit.
WHAT CAN I DO BETTER?
1. Set Stop Loss In Profit For Potential Runners.
2. See Where Price Has Been To See Where It Is Going.
3. When In Profit, Trail And Stop It
WHAT DID I LEARN?
1. More Confluences In Higher Timeframe Increase Ratio Of Success.
2. Patience and Virtue
3. How To Identify Break Of zone In 15 Minute Timeframe.
DID I PREPARE PROPERLY?
YES, I entered a trade with a high lot size because of my confluences in my technical analysis.
This time I set my price, doubled down, and wait for a confirmation.
GBPJPY
has been a pair I have been studying for the past 180 days. It has been on a massive bull market for the past 60 days, creating new highs this par has not seen in eight years. This week overall has been very profitable. I still have to manage to learn how to stick to my trading plan. It is just like a car, I have to inspect under the hood, the tires, and mirrors, weather conditions, and most of all, have a destination. before I pull out of your driveway, and get on the highway! This trade was an easy 1:2 risk-reward ratio. The small wins count.
In conclusion, I'd like to share my trading journal entry...
DID I FOLLOW MY PLAN?
Yes. I exercised bank zones properly.
I followed the overall trend
Set my take profit 1:2
WHAT DID I DO WELL?
1. Let The Trend Be My Friend.
2. Traded the pair in USA session.
3. Exercised good risk management, by setting a Take Profit.
WHAT CAN I DO BETTER?
1. Set Stop Loss In Profit For Potential Runners.
2. See Where Price Has Been To See Where It Is Going.
3. When In Profit, Trail And Stop It
WHAT DID I LEARN?
1. More Confluences In Higher Timeframe Increase Ratio Of Success.
2. Patience and Virtue
3. How To Identify Break Of zone In 15 Minute Timeframe.
DID I PREPARE PROPERLY?
YES, I entered a trade with a high lot size because of my confluences in my technical analysis.
This time I set my price, doubled down, and wait for a confirmation.