This time I was able to stick to my guns and stay in the trade until it closed. I did realise though that factoring in the spread I shouldn't have taken this trade because the risk/reward ratio was greater than one (19 pip potential loss over an 11 pip potential gain).


Today the EUR/JPY briefly broke out of its trading range from it's past few days and I wasn't sure what to do. So now I've come to the understanding I'm going to have to start using indicators in conjunction with basic support/resistance levels to help find turning points and the strength of trends. Though it was fun to trade just using the barest of tools for a tidy profit; I guess the way I want to trade needs to be simple so I can quickly identify and jump on a trade. This means I'll be taking Occam's Razor to the trading systems I look at (my own and one's I find or are suggested to me).