GBPJPY, This is my first trade where I managed to close 1:8. I look forward to more potential setups like these to share in the future.
In conclusion, I'd like to share my trading journal entry...
DID I FOLLOW MY PLAN?
Yes. I exercised Support & Resistance
Followed the trend, it's my friend!
Set my stop loss according to my risk-reward ratio
WHAT DID I DO WELL?
1. Identified Trend in New Session.
2. Leveraged other pairs as a resource..
3. Exercised good risk management, by setting a stop loss.
WHAT CAN I DO BETTER?
1. Set Higher Lot Size.
2. Set Stop Loss In Higher Timeframe
WHAT DID I LEARN?
1. Following A Plan Is Profitable
2. Using Different Strategies Is Okay To Increase My Success
3. How To Set My Risk Reward Ratio Properly
DID I PREPARE PROPERLY?
YES, I entered a trade in a new session with confidence with several my confluences in my technical analysis.
This time I set my price, doubled down, and wait for a confirmation.