I shall post to this journal TWICE a week just:
Once at the start of the week and once at the end of the week.
Since I'm writing this, however, here's the most recent stat on my position.
Anyway, I'm up $5000 with my position. Yeah, that is 5k!!!!
I will milk and hold my place to max.
Oh yeah, trailing stop got hit by injury.
Made about $6000 in profit.
Hey, but this was a good thing.
AUDJPY went down.
I bought again on 86.194 with lotsize of 8.
New stoploss is at 75.000 and there's a solid support there.
It will never retrace down that far.
My takeprofit is at 122.700 now.
Damn man. This was a real good week.
6k in profit by injury with monitoring stop and now I am awaiting more profit. Do not worry, I know what I am doing.
My advice is:
1) shut this diary, as it is of no use for your trading
two ) ask a question if you are investing or trading
3) a 12% stop loss? You are kidding yourself, along with your trailing stop won't ever allow you to get to your profit target wich is much more distant
4) will not proceed to 75.00 is the kind of thinking that will lead you right to the cemetery of trading
5) ask yourself where you can loe the most fair marketplace with the lowest trading costs and the highest percentage of quantity generated from the ignorant participants and start learning how to trade (it is absolutely not at the FX market)
Maybe not yet, but it moved to 76.87 in my broker now.
Know a lesson about cutting your losses fast yet? Let's see... about 900 pips dropped on the AUD/JPY at 8 lots... that's about a $80,000 or 80% drawdown on a 100,000K account... hello margin call!
Better luck next time... maybe you've heard something about money management for the next time you start an additional DEMO account.