Setting Goals in Writing

USD/JPY Short Selling Opportunity

Big Indecision on the Daily Chart

• I am at a risk of 50 pips - originally when we placed this trade it was with the intention of setting a limit order to exit at 50 pips below 110.60
• The risk/reward ratio is almost 1 to 1, but in this case we are scaling in.  In this pyramid type of trade we'll layer on a trade that is about 1% of capital risked, and then expand it 2x, and then 2x that which would add to gains    
• For the most part keeping asymmetric risk reward doesn't matter as much as managing risk itself, what I mean by that is I would never move a protective stop loss order, I would only protect capital by moving it tighter if the trade moves in my favor
• Let the trade run for a few hours up to a day before changing anything

Before when we looked at the formation of topping tails, we discovered that there still could be some breach of supportive points (so below 110.40 is crucial here) and that would confirm that the downtrend will likely continue, and the Yen would strengthen.