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I'm Into Profit...

Friday, February 29, 2008

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Hi guys,
My yesterday entered trade in GBP/JPY has shown me what we all want, PROFIT. Currently sitting at 400-ish pips. Since this is my only money left, I have a bit regret because my chance of taking profit has passed. What I'm thinking is to take profit and entered again with bigger lot size using this current profit(but something is not right here, because there is no possible nice entry). Maybe my gut-feeling stops this profit taking idea. Well since it's not gonna happen again now, I've moved my stop loss to a reasonable level.

Missed profit taking level = 206.00 - same level with major past low, I would take profit when price reach 206.10 to cover for spread. It did clearly show support in the chart. Stop-loss moved to 208.70 Next profit target = Next consolidation area with continuous entries.

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