This series of journal is to record my Forex day trade system. I am not going to describe the details of my system, since, it is customized to suit my trading style. Basically, it is a SAR (Stop and Reverse) system. And there is no guarantee of success.
Anyway, I made a mistake today, I miscalculated my stop loss, though it did not cause any problem today, it is still a mistake.
I went Short of GBP/JPY, and I was stopped out with -1 R loss. I went long immediately and my profit target 100 pips was achieved, I closed the position with +2.5 R gain.
- Short GBP/JPY; Result: -1 R
- Long GBP/JPY; Result: +2.5 R
Trust me, a real man trades Futures, his son trades Forex. I am trading both, for my wife. LOL