Stopped out

Well, The trade I took this morning was stopped out with another profit!

This time I was stopped out at a profit of 46.9, as I moved by SL to 1.34000 over the course of the trade.

I should point out that I considered halving my position and putting the SL at 50%, so I would have had some profit, adn the ability to let the remaing half run.

I chose instead jsut to move the SL up when i was in profit by about 65 pips, as I am more than happy to take the full profit early as it means less of an effort in tracking the trade over a course of a few days.

What I am trying ot do at the moment is to reduce the maximum stop loss but keep the risk the same, so when I am in profit, I earn a lot more.

I have detailed this bfore, but by halving the maximum stop loss (from say, 150 to 75) I can double my position sizing (from 0.1 to 0.2 for example). This means that I do not have as much wiggle room in terms of price movement into drawdown, but at the same time I DOUBLE my profits.

So far I have not documented original stop loss levels and position sizes, but maybe I should?

Anyway, another profit!!

Happy trading!