Shorting the GBPJPY… from all to nothing!
Last night I saw an opportunity to short the GBPJPY currency pair and I entered at 205.20 with a 200 point target and a 100 point stop order. In the back of my mind, I know that I need to leave these trades running, there have been many occasions where I have closed for 100 to find that the market has moved 500 my way or more! Anyway, I set this trade in motion and went to bed…
I woke up to find that the market had moved and throughout the day, went lower… the lowest was 204.00 which was 120 points… I wanted to be true to myself and keep disciplined so I moved the stop to entry and kept the same target price at 203.20.
However, the market then went up and stop me out at entry for a target trade!! I can’t believe it, I was 120 up at one stage too!! Sigh…
