Friday, August 26, 2011

USDJPY

Well, yesterday this trade was moving in my favor, it got up as high as 77.695 (my target profit was 78.000), so I moved my stoploss up to 76.750 to minimize my risk in the trade.  Unfortunately, price reversed dramatically to 76.480 which stopped me out.  Due to my minimal risk though, I only lost -$2.53 (this is the key to forex...wins must be larger than losses!)  I will continue to watch this pair, as the "bottom" still seems to be holding...will be interesting to see what it does in the coming days.  Current account balance $2,914.99

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