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hi its gelva traders help desk and this is a trade on the usd/jpy i believe is going to go up so im going to buy one contract for the 101 point 77 strike a 1pm expiration now up here right in the corner you can actually see that theres about an hour until expiration now one of the questions that I get asked a lot is do I take a full loss when I have a negative trade so Im going to explain to you now I went out one strike greater than where price is currently trading for example right now prices trading near the 101 point 73 strike price so lets say that it goes against me and closes down here at this strike price I would exit the trade youre going to be just about half on your loss but that can vary depending on whether you have an hour left or whether you have four minutes left to expiration so what you want to do is watch it and if this was suddenly to pop down and close below this strike price then I would exit the trade and I would cut my losses because then my trade setup ha