Just another day taking advantage of the fluctuation on this pair. I could likely have made a lot more money if I had waited it out, however, I have learned that it’s better to take profits than watch them disappear! Far too many times I either wait and lose the profits or set stop losses somewhere which puts me in a ‘can’t lose’ predicament. The problem with the latter is that the stop-losses are usually too close to the market price – and the trade ends up closing soon after. On the contrary, if I place the stop-losses well below the market price, I often end up losing significant profits when the price reverts. Unless I see a real case for continued movement in my favor in the short term, if I can make a few hundred bucks, I’ll cash out and take it!
