The past couple of weeks, I have got involved with a propfirm challenge, I will not say which one, because they do not pay me to advertise thier brand or products, but I will say this propfirm has a Free Trial, propfirm challenge, that you may participate in before you purchase any tests!
One thing I liked about the challenge is , I had only four benchmarks to achieve. I began my challenge on Jully 16th, Entered my first trade on the 18th, and entered my final trade on the 27th. The challenge for me ends on the 31st. So today I am merely sharing my most profitable trade, following this post, I will share my losing trade that will explain the reason I ultimately failed this challenge. I did indeed reach my profit target for the challenge, so I'd like to share the win too!
GBPJPY
has had some trend exhaustion. We have seen swing highs this pair has not reached in several years. As an experienced trader, you will learn that price, always pullback. It may not do so when we plan on it. But it will, eventually. So we have to prepare ourselves for these occasions.
In conclusion, I'd like to share my trading journal entry...
DID I FOLLOW MY PLAN?
Yes. I exercised my entry near my zone.
WHAT DID I DO WELL?
1. Realized The Market Conditions
2. Identified A Continuation
WHAT DID I LEARN?
Allow price to retest your zone before you make an entry.
1. Price with this pair respects the 4H and Hourly timeframe.
DID I PREPARE PROPERLY?
YES, I waited for a confirmation..
WHY DID I TAKE THIS TRADE?
Consolidation in the hourly zone, with a crossover of the 21 day moving average
GIVE ME A BRIEF SUMMARY IN 1-2 SENTENCES:
With this pair being the highest its ever been in seven years, I've managed to capitalize on the pullback
One thing I liked about the challenge is , I had only four benchmarks to achieve. I began my challenge on Jully 16th, Entered my first trade on the 18th, and entered my final trade on the 27th. The challenge for me ends on the 31st. So today I am merely sharing my most profitable trade, following this post, I will share my losing trade that will explain the reason I ultimately failed this challenge. I did indeed reach my profit target for the challenge, so I'd like to share the win too!
GBPJPY
has had some trend exhaustion. We have seen swing highs this pair has not reached in several years. As an experienced trader, you will learn that price, always pullback. It may not do so when we plan on it. But it will, eventually. So we have to prepare ourselves for these occasions. In conclusion, I'd like to share my trading journal entry...
DID I FOLLOW MY PLAN?
Yes. I exercised my entry near my zone.
WHAT DID I DO WELL?
1. Realized The Market Conditions
2. Identified A Continuation
WHAT DID I LEARN?
Allow price to retest your zone before you make an entry.
1. Price with this pair respects the 4H and Hourly timeframe.
DID I PREPARE PROPERLY?
YES, I waited for a confirmation..
WHY DID I TAKE THIS TRADE?
Consolidation in the hourly zone, with a crossover of the 21 day moving average
GIVE ME A BRIEF SUMMARY IN 1-2 SENTENCES:
With this pair being the highest its ever been in seven years, I've managed to capitalize on the pullback