DislikedSwingTrade when you have time could you walk me through the EURCAD recently...I assume you were long, took some profits, on the down leg is where im interested, did you Stop Out the part left open or did it go all the way back until a Short signal kicked you out ? {image}Ignored
Investor...this was kinda odd how this one happened. I had the order in and got filled.....so then I ran down to the store and was taking my time looking around.
When I got ready to head back home, I looked at the quote on my phone and realized that I had about 275 pips in this trade...which as I said at the time was a total gift. When I got back home, I had about 280 or 290 so I took off 1/2 position and put my stop to B/E. So a little later in the evening when it was kind of just hanging out above 1.43 ...I just decided to tighten my stop up some from a strictly MM point of view....there was no signal or otherwise..
Now as to WHY I did that, You will have to read Larry Levin's .pdf on emotion free trading and acting in your best interest. Gift trades are very nice when they happen, however I dont have a framework for how to register or process them if that makes sense. I am also a believer in acting in my own best interest in times like those and take some freebies
On the other hand, if a trade does something like the G/N or the G/J long trade last week, I am extremely comfortable just watching it move along and wiggle up and down as it makes it's way higher or lower....in those cases, I understand how and why they are doing what they are....so I know exactly how to react be it win lose or draw....Big surprise gift trades...not so much
Hope this helps
Plan, Prepare, Execute, Repeat