The super-newbie trades

sell usd/jpy
115.40
keep stop above 115.60 ( kept it on 115.63)
target for 114.87

moved my stop to 115.78... super-newbie

If you use money management which you should, than you never move your stop.

I think this is one of the first lessons, to never move your stop unless it's a trailing stop.

When you are setting your trade you, you do this because you think you have a higher chance to one side than the other, and your risk that it moves against you is determined by your money managment at the time you set your trade.

Whish you good luck with your trade.

Many pips to you

shausmann,
right now i am demoing my strategy thankyou for your comments i will make sure i choose a right stop next time many pips to you too .

another lot sold at 115.60 which makes my average to 115.51 and stop for positions 115.78

planning to take my profit at 115.04-07 other side of the shi-channel

this is how i am planning to take my profits according to shi-channel and fibonacci Step-rsi also going down for now . looking for 114.99-80

bringing my stop to 0 i heard it is called breakeven since i am on demo and testing overall i will let it either closed me at 0-0 or give me profit at 114.99

i have another thought and that is if it goes up to 115.51 it will take my stop which means no profit or loss but what if it goes lower than 114.99 . So i will watch for now if it breaks the 114.99 it might travel to 114.62-58 area which is 1.252 fib projection of shi-channel high-low and im also save since i'm breakeven so will watch closely.

chart shows what i am looking at or expecting.

Attached Images

usdjpytrade.JPG (76.7 KB, 1217 views)

another chart shows hourly

Attached Images

usdjpytrade.JPG (65.4 KB, 1165 views)