Ok, I have decided to adjust my stoploss to a 50 pip TSL. Based on new market high of 1.5800, my TSL is now set at 1.5750. This guarantees me a nice 100 pips on the trade (A 1:1 R/R) and leaves the possibility of further gains.
I don't want to give to much back at this point and from what I'm seeing now it doesn't look like I'll get another trade this week. I don't want to put any positions on in late Friday trading, so most likely early next week.
100 pips this week is a great week. My patience helped me immensely. Because I was looking for a deep discount at 1.5600 I forced the market to either come to me, or show it's hand. Even after missing the 1.5600 trade by ten pips, I didn't panic, and even though I wanted to jump on board at 1.5700 and chase the market, I didn't.
To be honest, I only took a look at the screen about 4 times this week!! This is the kind of trading I want to do.
As I write this, market is stalling at the high of the last spike at 1.5761. If this area holds then it's just a bonus. I have already written the trade off as closed at 100 pips now it's just a free ride!!!
I don't want to give to much back at this point and from what I'm seeing now it doesn't look like I'll get another trade this week. I don't want to put any positions on in late Friday trading, so most likely early next week.
100 pips this week is a great week. My patience helped me immensely. Because I was looking for a deep discount at 1.5600 I forced the market to either come to me, or show it's hand. Even after missing the 1.5600 trade by ten pips, I didn't panic, and even though I wanted to jump on board at 1.5700 and chase the market, I didn't.
To be honest, I only took a look at the screen about 4 times this week!! This is the kind of trading I want to do.
As I write this, market is stalling at the high of the last spike at 1.5761. If this area holds then it's just a bonus. I have already written the trade off as closed at 100 pips now it's just a free ride!!!