Was looking at a 50-pip paper loss on my long position yesterday. 5 pips away from my stop! The day finally closed at a 40-pip paper loss. In theory, I should have taken the loss and went for a short position instead. But this was a very similar trade set up to Tue 22 May. A strong bull move that day saw a big bear reversal the next day, before the bulls came back on the 24th.
So I decided to wait out the trade and when I checked in today, I saw that it tested the high on Monday, so since I was in profit and it's a potential double top, I decided to close out the trade. Turns out it would've hit my TP if I'd waited. Oh wells! My success can't be dependant on just this trade alone right? Trade safe.
Yours,
X
No comments:
Post a Comment