Jan. 19 2007 (EUR/JPY trade)
Trade: Long 10 lots of EUR/JPY @ 157.11. Long another 10 lots of EUR/JPY @ 157.05.
Stop: 156.50
Target: 158.00 (2:1 profit ratio).
Result: 158.00 (+88 pips)
Comments: The 1st 10 lots of EUR/JPY hit a high of 157.71 netting me a profit of almost $6k. However, I resisted the temptation to close out my position as I believe that EUR/JPY still has alot more upside to go over the next 1-week. Prices retreated to 157.05 a few hours later and I doubled up on my position, purchasing another 10 lots @ 157.05.
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