Wednesday, August 5, 2009

USD/JPY trade

I just entered into this trade based on same rules which I have defined for myself. You can refer to the pics for the reasons why I entered into this trade. SL was about 4% of capital but risk reward ratio is almost 1:1 so this was a risk I was willing to take.

Long USDJPY 95.22
SL: 94.87
TP: 95.46

I will review this trade later to see if any adjustments upwards need to be made for the TP, stay tuned.

SL was triggered, loss is 35 pips.

Its been a bad day but I will presrvere and try not to make hasty trades.

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