The second attempt

So, with the past few weeks as a recovery phase, since I wasn't able to do any trading lest it affect my margin even more, I am all ready to go out and practise my forex trading again.

Yesterday night, just before I slept, I saw that the GBP/USD graph is at 1.9898...very close to the strong resistance level of 2.0000...in fact historically the high is at 2.0105, occuring ard the the start of October 1992.

I was prepared to go on more than a simple swing trade for this move. In fact it has a fair chance of continuing its upward movement. If that had occurred, I would have put in another percent of my margin, and wait for the drop to come.

This morning I found that there was a gain of 90 pips from my short position. That gain however has been limited by a slow sideways, but upward, movement of the graph.

Come to think of it, I remember a fellow forum mates technique. Say he decides to short G/U, and the movement did go southwards, but falls short of his target of 100 pips. What he does is, at this point of mayb 50 pips, he puts a target for 100pips but a stoploss at 30 pips gain. This is his actions to allow him a chance at getting to his target level without risking all his gains. I'll need to experiment with this system before I can give my dearest readers any evaluation or more info.