You Get Out What You Put In

I discovered trading back in 2021, but have been serious (locked in) since November 2022. This was around the time I acquired my mentor, and we have been working closely on the markets together. My weakness has been risk management. I lost a couple thousand dollars in live money, not using a TP or SL at all in my trades, even though my mentor encouraged me to do so. I thought it was no big deal.. BUT IT IS, as you can see, leveraging a SL and TP in this trade allowed me to wake up out of my sleep up 6% on GBPJPY . Exercising key levels & practicing risk management is key. Started my prop firm challenge yesterday & this morning I woke up, up 6% on my account. Passing my prop firm challenge in less than 72 hours.

In conclusion, I'd like to share my trading journal entry...


DID I FOLLOW MY PLAN?

Yes. I waited for confirmation, stuck to my 1:3 risk-reward ratio, and maintained a 0.25 lot size..

WHAT DID I DO WELL?

1. Identified Market Structure
2. Exercised quarters theory


WHAT DID I LEARN?
How to properly set a stop loss and take profit BEFORE entry.


DID I PREPARE PROPERLY?

YES, I allowed the pair to give me a setup before entry.

WHY DID I TAKE THIS TRADE?
To make an example of WHY i need to incorporate key levels in my trading.

GIVE ME A BRIEF SUMMARY IN 1-2 SENTENCES:
You see an entry, take it. There is no reason to second guess your chart work...