Slowly starting to pare back my positions as the weekend approaches. Usually I don’t mind leaving some “smaller” positions open, but the full lots and double lots I like to have closed. Unless of course there is an obviously blatant reason to leave them open.
Yesterday was a good day. Total of 187 pips.
Current Positions open –
1/4 Lot (Long) @ 119.26, TP @ 113.71 (I know the TP is lower then the original entry, I am satisfied with this, read below to find out why.)
1/2 Lot (Long) @ 110.63 – TP @ 113.49, SL @ 110.55 (I will trade with a tight Stop Loss when we near the weekend)
As for why I am happy to close out my 1/4 lot with -550 pip loss – Since I opened it on May 10th, I have gained over 1000 pips with an average position size of 3/4 of a Lot. My total pip loss will be 550 pips @ 1/4 Lot size…this is something I can easily absorb. This weekend I will get into my method a bit more.