GBPJPY overtrading on 22nd Oct!
Zzz
After a nice start to the day, I took 3 other short trades on the GBPJPY.
This was somewhat later in the day, when price was ridiculously whippy.
entry 151.12, exited 151.27 for -15 pips
entry 151.11, exited 151.35 for -24pips
entry 151.20 exited 151.40 for -20pips(half position size, so equivalent to -10pips)
The good thing is I used the same position size and risked less capital for each trade.
So basically I gave back 49pips out of the 60 I made in the first trade, still positive for the day.
Got to watch my emotions, the 3 trades I took earlier weren’t particularly high quality setups.
I guess I just wanted to position myself for a potentially huge drop below 150.50..guess it’s not today.
Currently in a position short at 151.71
Tempted to put the stops at 151.90, just above the 151.80 resistance.
However, since the recent high is pretty close, I decided to go for a 39pips stoploss instead.
But price doesn’t look like it’s gonna work out easily..irritating.
I’ll leave it overnight, all stops in place already, will take half profit at 40pips profit.
Looking for a final target of 100 pips at 150.71 just above the supportĀ area of 150.50
Wish me luck!
bah stopped out.
so that ends my day down -28 pips.