Once GBPJPY breaks it's high of 182.53, I will look to BUY.
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Getting READY to BUY 100 LOT of GBPJPY soon.
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Bought 100 LOT at 182.75, STOP LOSS at 182.45, TAKE PROFIT at 185.80
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Bought another 100 LOT at 182.95, STOP LOSS move too 182.35
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Stop Loss move to 182.30
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STOP LOSS hit at 182.30 for over $220K lost.
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Lost is over $110K and NOT $220K
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Total LOSS so far all TRADE in GBPJPY combine is -$79,400, since first trade in July 24.
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Will BUY GBPJPY again later, when it show a BUY opportunity near the 179.75 to 178.90 price levels.
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This is the REALITY OF TRADING, you will have many losses before you win one. And the many GURUS in Trading View platform and other platforms will NOT tell you this or give you a real picture of the reality of trading.
What they want to do is to pep talk you to the fantasy of trading, so that you will BUY their secret course, their secret indicator, their secret AI algorithm bot, or other so call secrets, which is useless when it comes to the reality of trading. WHY? Because that is how they make the real money, by selling stuff and NOT from trading.
What they want to do is to pep talk you to the fantasy of trading, so that you will BUY their secret course, their secret indicator, their secret AI algorithm bot, or other so call secrets, which is useless when it comes to the reality of trading. WHY? Because that is how they make the real money, by selling stuff and NOT from trading.
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So than how do you make money in trading? The WINNER must be BIG and the LOSER must be SMALL.
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Plus the August 2 lost of -$110,000, Total Lost for GBPJPY since First trade on July 24 is -$189,400
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GBPJPY has NOT come to the 179.75 to 178.90 price levels, but I will BUY GBPJPY this evening, if this next wave down does NOT break 180.50 price level.
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UPDATE: Bought 600 LOTS at 181.65 this morning, TAKE PROFIT is at 185.80, and STOP LOSS is at 181.27
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If GBPJPY do NOT break the 183.25 price level, will exit all positions.
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If GBPJPY do NOT break the 182.62 price level, it will definitely make a small wave down again before it goes up.
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STOP LOSS move to 182.32
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STOP LOSS move to 182.30
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GBPJPY STILL going UP, so lets see if this evening it will break through it's resistance levels.
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STOP LOSS moved to 182.55
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Update: Added another 400 lots at 183.50
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TAKE PROFIT for all LOTS are still at 185.80 and STOP LOSS is still at 182.55, but will be move in a bit.
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STOP LOSS moved to 183.10 for all lots
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Once GBPJPY comes down to these price levels of 183.65 to 183.55, it should go back up. If NOT, I will get out for a profit.
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GBPJPY should breakthrough it's 184.25 resistance, but if it DOES NOT, I will be ALL out for profit.
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ALL 400 LOTS that I bought at 183.50 is all out at 183.67 for a profit.
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Will BUY 400 LOTS again if GBPJPY comes back down to the 183.50 price levels
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Lets see if GBPJPY will come back down to the 183.50 price level for me to BUY 400 lots again. If NOT than it's a miss opportunity and a miss of BIGGER PROFIT by exiting the 400 lots.
Anyway, this is the REAL REALITY of trading, you have to struggle between decisions, but there should NOT be any regrets. Why? Because, I make the decision to EXIT the 400 lots thinking that it will come back down to the 183.50 level for me to BUY again, so I have to live with the consequence of BIGGER PROFIT loss and a miss opportunity to buy again, if GBPJPY does NOT come down to the 183.50 level.
Anyway, this is the REAL REALITY of trading, you have to struggle between decisions, but there should NOT be any regrets. Why? Because, I make the decision to EXIT the 400 lots thinking that it will come back down to the 183.50 level for me to BUY again, so I have to live with the consequence of BIGGER PROFIT loss and a miss opportunity to buy again, if GBPJPY does NOT come down to the 183.50 level.
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400 LOT BUY LIMIT is set to 183.50 and STOP LOSS for ALL LOTS are still set at 183.10
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Will Close ALL LOTS in GBPJPY soon, because it's FRIDAY and usually it will pull back down with a new week.
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Hopefully GBPJPY will go up fast and hit the TAKE PROFIT target at 185.80 before the close of today.
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400 lot BUY LIMIT at 183.50 is cancel, because price did NOT come back to that price level.
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STOP LOSS moved to 183.50 for all lots
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ALL out at 183.90 for a PROFIT
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PROFITED $1,350,000 + $68,000 of the 400 Lot profit = $1,418,000 TOTAL PROFIT minus Total Loss of $189,400 equal to a NET PROFIT of $1,228,600 since started trading GBPJPY on July 24.
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Well, GBPJPY did NOT come down as far as I expected, thus I did NOT get back in and so it went back up without me, passing the original TAKE PROFIT of 185.80. This is the REALITY OF TRADING, sometime you will leave much profit on the table, because of the decisions that has been made.