How to be in a no-lose state with just a 10-pip unrealized profit (trading video)

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This trade was on Tuesday, January 29, 2019.

EUR/JPY 5-minute chart: after breaking above the 125.000 line, I looked for a pullback and entered.

Bought 50 lots.

TP1: Take 25 lots (half) profit,＋217,500 yen

TP2: Take the remaining 25 lots or cut losses,－75,000 yen

Total＋142,500 yen

The target profit wasn’t reached, so I couldn’t take everything, but it’s important not to lose.

A way to not lose

Enter, and once you have a decent unrealized gain, place a stop at breakeven (SL - stop loss, a reverse stop order) at the entry price.

One would end up with either a draw or a win.

I often do this.

What would happen if I used that method on this EUR/JPY trade? If TP1 reaches, I would move the SL to breakeven.

At point A, the SL could be hit and it drops, then a pattern like the blue arrows showing a rise could also occur.

It’s the kind of situation where you almost get stopped out and then rise, which would be frustrating.

If you move the SL to breakeven, you can avoid losses, which is good, but you become more likely to be stopped out.

How to set no-loss state without moving SLis to take partial profits.

I entered a buy, and set SL at 10 pips.

From here, if it moves 10 pips in profit, I take half. +10 pips

Even if the SL remains and it hits the stop, the remaining half (same amount) would be -10 pips, making the overall zero.

You can be in a no-loss state the moment you take half profit.

That way, even with a deep pullback like A, you can keep going without hitting SL and still ride up like the blue arrows.

This time, EUR/JPY didn’t move 10 pips, but the SL could be lifted safely, keeping you in a no-loss state.

It’s reflected in the video. If stopped out, it would be 7.2 pips.

Even if you raise the SL a bit, as long as it remains below the nearest low on the 5-minute chart, it’s OK.

The idea is,

If you enter with an SL of 10 pips

Take half profits when you have 10 pips in profit

You can make a no-loss state without moving SL

For example, if SL is 20 pips, take half profits once you gain 20 pips in unrealized profit.

Take half profits at the same pip distance as the SL.

A no-loss state is psychologically very advantageous.

When aiming for large moves, if you know partial profits at certain points, it helps you extend profits psychologically (be more willing to hold).

I’m on Twitter:https://twitter.com/takashipyo

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