Demo
Currency Pair: USD/JPY
Short
Method: PIPS Intra-day
News (For Running Market Only): none
Global Stock Market (For JPY Pairs Only): Bearish
Timing of News Release (GMT): none
Date & Time of Entry (GMT): 2008.12.16 06:41 (GMT)
Entry Price: 90.35
Initial Stop Loss: 90.65
Basis of Stop Loss: 30 pips
Initial Target Profit: 89.75 (60 pips)
Basis of Initial Target Profit: 60 pips
Planned Risk-Reward Ratio: 1: 2
Stop Adjustments: - Adjusted TP to 90.04 based on 38.2% Fibo Level.
Exit Price: 90.04
Exit Time (GMT): 14:21
Reason for Exiting the Trade: TP hit
Profit / Loss (Pips): 31 pips
Actual Risk-Reward Ratio: 1:1
Reflections: Probably entered trade to eagerly, hoping to try out PIPS Intraday as I believed I saw signals. I was also too hasty to change the TP when leaving the screen, and in hindsight should have stuck to the initial plan which would have generated more profit. However it does presently appear that the price is stagnent around the 38.2% Fibo line.
In reality the trade was a poor decision as prices where not really trendy enough, which created indecision in setting the TP.
