The result of last nights trade – GBPJPY

Last night I left you with the result of my trade where the market had moved to about 100 points in my favour but I decided to leave it to run a trend to find that it had got to 20 points from my stop….

Well, last night, I couldn’t sleep properly thinking about the trade… my stop never hit but it was so close… soon afterwards, the market dropped (after I woke up to watch it) and I manually closed at 158.29. Perhaps I am never destined to be rich but still, my trade was a good one which netted me 140 points! Not bad at all!

However, when I woke up the following day knowing that I had already locked in my profit.. my trade would have yielded even more proftis… the market had even got as low as 155.20!! Of course, in the real world, if you watched it, you would have probably got out earlier at about 157.00 where there was a triple bottom formation. If I had left the trade to run for a whole day however with my stop at entry at 159.69, it would have been hit and I would have ended up with nothing.

I think it’s going to be a difficult balance for me with a 9-to-5 job and trading part time. I do feel that I have the ability and if I were able to dedicate more time to it, I could do ok. It does go back to something a successful trader had told me that in order to truly make it as a trader one must be able to dedicate time to it full time. I don’t know what other people think of this.

Anyway, here is the chart…

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Category: Forex trading, Spreadbetting, Trading