I took a Long position in CAD.JPY. When it shot up, I quickly moved my stop to break even or b/e (well, it was actually 1 pip above my entry point).
And whaddaya know, the market reversed.....and I got out at b/e + 1 pip gain.
Could this pair reverse back and head to the stratosphere after it has kicked me out? You bet!
Do I care? Nope, because I had acted upon my trading plan when I got out of this trade.
Most importantly, b/e trades are winners too.
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