It has made me happy to stick to trading. It is a reflection of the real world. Every day everyone is unique. So is
GBPJPY
. One millionaire trading habit I have learned is, YOU CAN NOT PREDICT THE MARKET. Knowing this, I do not risk more than 1% of my account in every single trade. I strive to trade another day. A losing day has given me so much more insight, into myself, and my strategy, more than a winning day, allowing me to sharpen the saw on my risk management. In this case, I already had eyes to cut my losses short. Price was creating lower lows. But the goal was to close 1% or less. In this trade, I risked more than I should have. Trades like this are mistakes I document, learn from, and prevent, because we Do not want this to happen again. Being in the trade exudes a different energy signature. It is imperative to control your emotions inside the trade. What do I mean by this? You must stick to your plan once it is set, and I mean to the tee. OR you will inevitably make unnecessary mistakes. In this market, costly mistakes will literally cost you money. In this particular trade, cutting our losses short was a valuable lesson today because if I plan to successfully manage risk according to plan, I must follow my own plan's parameters, and follow instructions. MOVE THAT SL up!
In conclusion, I'd like to share my trading journal entry...
DID I FOLLOW MY PLAN?
Yes, I entered in the correct session.
I made the trend my friend. (HT)
BUT I did not have enough bullish confluence...
WHAT DID I DO WELL?
1. Identified overall trend
2. Set my stop, cut my losses short.
WHAT CAN I DO BETTER?
Test my FVG in smaller timeframes before making any new entries.
WHAT DID I LEARN?
Price is going to do what it wants to do,
I am able to calculate & manage risk properly.
DID I PREPARE PROPERLY?
NO, I did not identify three confluences.
Wait for a retest in the 15M time frame.
WHY DID I TAKE THIS TRADE?
I saw price approaching a higher timeframe orderblock.
WHAT IS IT YOU WERE SEEING?
Price Failing to Swing Low.
Price Creating A Fair Value Gap
GIVE ME A BRIEF SUMMARY IN 1-2 SENTENCES:
Price is not merely as close as it appears to be,
GBPJPY
. One millionaire trading habit I have learned is, YOU CAN NOT PREDICT THE MARKET. Knowing this, I do not risk more than 1% of my account in every single trade. I strive to trade another day. A losing day has given me so much more insight, into myself, and my strategy, more than a winning day, allowing me to sharpen the saw on my risk management. In this case, I already had eyes to cut my losses short. Price was creating lower lows. But the goal was to close 1% or less. In this trade, I risked more than I should have. Trades like this are mistakes I document, learn from, and prevent, because we Do not want this to happen again. Being in the trade exudes a different energy signature. It is imperative to control your emotions inside the trade. What do I mean by this? You must stick to your plan once it is set, and I mean to the tee. OR you will inevitably make unnecessary mistakes. In this market, costly mistakes will literally cost you money. In this particular trade, cutting our losses short was a valuable lesson today because if I plan to successfully manage risk according to plan, I must follow my own plan's parameters, and follow instructions. MOVE THAT SL up! In conclusion, I'd like to share my trading journal entry...
DID I FOLLOW MY PLAN?
Yes, I entered in the correct session.
I made the trend my friend. (HT)
BUT I did not have enough bullish confluence...
WHAT DID I DO WELL?
1. Identified overall trend
2. Set my stop, cut my losses short.
WHAT CAN I DO BETTER?
Test my FVG in smaller timeframes before making any new entries.
WHAT DID I LEARN?
Price is going to do what it wants to do,
I am able to calculate & manage risk properly.
DID I PREPARE PROPERLY?
NO, I did not identify three confluences.
Wait for a retest in the 15M time frame.
WHY DID I TAKE THIS TRADE?
I saw price approaching a higher timeframe orderblock.
WHAT IS IT YOU WERE SEEING?
Price Failing to Swing Low.
Price Creating A Fair Value Gap
GIVE ME A BRIEF SUMMARY IN 1-2 SENTENCES:
Price is not merely as close as it appears to be,