GBPJPY Short For 2.6-To-1 Swing Trade

A short trade just triggered on GBPJPY. We'll be playing this as a swing trade. It set up with a nice 2.6-to-1 reward to risk ratio.

First and seconds targets marked, we'll update as the trade progresses. Good luck all!

Comment:

Q: Price came close to our stops. What is the right thing to do in a situation like this?

A: Follow the plan! And the plan says don't touch those stops until conditions are met to move it to BE. Before then you never touch them.

And why is that? Because shortly after, price dropped again, moving far away from the stops. There was no way we could know what would happen, but we trust in our amazing system. We know our edge is GREAT! So we would stay within those rules every time rather than try something impulsive.

Yes, the trade can still stop us out but even then the victory was in trading our system to perfection, because next time we won't get stopped out but rather make #profits for days!