The second trade was played correctly. If you didn't take any profit as you did, there was high potential for a win to turn to a loss, as price was pulling back after a surge into an area of previous supply. The only thing you could have done is re-entered during the next blast up (a la forexbird). More importantly though, you exited the first trade quickly when it didn't do exactly as you wanted. Because of this, you had a winning day. Good work.
Thanks Trader32. It's time for me to be consistently profitable! .. Only time will tell but I was methodical & structured every day this week.
Thanks Mark. A part of me agrees with you and thats why I took profit when I did. However the other part of me see's holding for 5 more pips as being reasonable as well considering the blue trend line that was being broken was fairly significant in the short-term.
Much better week, congrats.
ReplyDeleteThe second trade was played correctly. If you didn't take any profit as you did, there was high potential for a win to turn to a loss, as price was pulling back after a surge into an area of previous supply. The only thing you could have done is re-entered during the next blast up (a la forexbird). More importantly though, you exited the first trade quickly when it didn't do exactly as you wanted. Because of this, you had a winning day. Good work.
ReplyDeleteThanks Trader32. It's time for me to be consistently profitable! .. Only time will tell but I was methodical & structured every day this week.
ReplyDeleteThanks Mark. A part of me agrees with you and thats why I took profit when I did. However the other part of me see's holding for 5 more pips as being reasonable as well considering the blue trend line that was being broken was fairly significant in the short-term.