As mentioned in my twitter, I am trading spot forex in demo account to get familiar with the platform and position sizing. This is a dummy trade of USD/JPY. Long position was established around 1am NY time @117.1199. Stop loss was set at the recent swing low 117.056. First target of 117.346 was achieved, stop loss was trailed to 117.279 and triggered.
Closed 2/3 of position at 117.346
Closed 1/3 of position at 117.279
One paper trade with + 1.48 R
Journal note: Apparently, the exit was premature. I was over aggressive when trailing stops. To lock in some small profit, I am missing the forest. Well, lesson learnt.
I am starting trading live tomorrow. The risk amount for forex trades are half of my normal R size, until I see convincing result I will get back to my normal R amount.