So EurUSD sits 1.1800 and I have an upbet at 1.1725 which is 75 pips up so say £750. Ihave moved the stoploss to 1.1725 - so Nil risk on that single trade except I am already £750 up so that profit is at risk. I have doubled the bet at 1.1814 and the stoploss there sits at 1.1725. If the trade gets stopped out I lose £1500 - or since I have not cashed that profit, I only lose £750 of the account. The target is 1.1930. so 130 pips away upside - so say £1300x2 or £2600 !
The nett effect on the account then would be -£750 or +£3350.
The trade is based on a 38.1 Fib retracement and is holding(ish) but does have serious uncertainty. If the move retraces 50% or61.8% and reverses I am still going to make the profit, but I may have to lower the upside some. If it goes all the wat to retrace the up move and I get stopped out I lose the £750(real) or £1500 (from the small profit I now have.
Trouble is I can cash NOW for a small profit (£610 ish) or I can let it run for a £750 loss (in the account) or £3350 gain - Now thais is a REAL predicament I have but it is paper trade not cash money.
WHat to do ?
Opinions please, with reasons if you can think of one !