It is very important aspect of trading and it is must to use "Trailing stop", specially when price rallied right after you open the position and those who don't check my earlier post then take a look at this chart.
Update of the chart of cad/jpy I posted yesterday
As I mentioned in my previous posts that it is necessary to understand the logic and when you have few points that cover you entry and force you to enter the trade then it becomes important that you ride the most part of the trend, specially when trend is as stronger as I have mentioned yesterday.
I have booked half of my profits in that trade and as price has shifted equilibrium then there is good chance that it carry the momentum through out the day but even I would be stopped out, there would no regret as It is planned well before the event has taken place