EUR/GBP is 152 pips in profits (it was up almost 180, then it retraced a bit). I am still not sure weather to close this position at the end of the week, or keep it ruining. Technically it is a risk free trade, since i trailed my stop loss to break even, but i do want to cash in more profits than i originally risked, since basically i already cashed out 50% of the position, I’ll just wait and see how this week the candle closes, so far things are looking good.
Here is the weekly chart, where i originally took the trade.
EUR/AUD is 73 pips in profits, and things are looking good. I am having bad thoughts in regards to the fact that when i zoom in on the Daily chart i saw an entry point i could have taken, where mu R:R would have been amazing, but the system i am trading does not allow that, so i really need to practice sticking to my trading plan and stop the wishful thinking.
Here is how the chart looks like.
Here are some other potential trades i am looking at:
AUD/CAD - Short, Daily TF
EUR/CHF - Short, Daily
EUR/JPY - Short, Daily TF
GBP/CHF - Short, Daily TF
Lessons i’ve learned so far.
1. Stick to your trading plan like a blind man to his stick.
2. Be extremely picky with the setups you take.
3. Lower expectations and allow unlimited patience for your setup ups to develop, because i am trading the longer time frames
4. Do not have more than 3% in the market at any given time, even if you are looking at a perfect setup, if you can not enter the trade from a risk management point of view, do no enter the trade!!!