Forex: GBP/JPY, trade briefing (4h time frame)
The pair have produced another unsustainable break-out, after positioning itself over the 169.68 (upside bias) and had confirmed by placing itself over the mini-resistance (yellow rectangle). The loss was pretty big and therefore after the loss of nearly 340 pips and a significant balance decrease I've decide to close partial profit from the other two profitable trades, leaving only a 0.1 lot for each of them open. Also, for preserving the remaining capital, concern that should be in your target too, I've decided that, from now on, the lot I will trade will be as little as 0.1 and I will double it, only when the trade account doubles and the trades that should be taken when the price confirm a setup in a neutral bias - I will avoid them, because of the tight money management which I had chosen.
The pair have produced another unsustainable break-out, after positioning itself over the 169.68 (upside bias) and had confirmed by placing itself over the mini-resistance (yellow rectangle). The loss was pretty big and therefore after the loss of nearly 340 pips and a significant balance decrease I've decide to close partial profit from the other two profitable trades, leaving only a 0.1 lot for each of them open. Also, for preserving the remaining capital, concern that should be in your target too, I've decided that, from now on, the lot I will trade will be as little as 0.1 and I will double it, only when the trade account doubles and the trades that should be taken when the price confirm a setup in a neutral bias - I will avoid them, because of the tight money management which I had chosen.