Snprr, on that "waiting until there is a clear direction" comment, your thought process seems sound.
However, being a bit of a pessimist, my response is that there is not and NEVER will be a clear direction on ANY pair UNLESS you are a very young millionaire and can afford to take a very very long term position.
So, with that in mind it is never bad when a trade reaches a point that you can ensure not loosing. Don't be afraid to take your profits, even if small.
Man, that's so easy to say, I wish I was disciplined enough to follow that advice!
However, being a bit of a pessimist, my response is that there is not and NEVER will be a clear direction on ANY pair UNLESS you are a very young millionaire and can afford to take a very very long term position.
So, with that in mind it is never bad when a trade reaches a point that you can ensure not loosing. Don't be afraid to take your profits, even if small.
Man, that's so easy to say, I wish I was disciplined enough to follow that advice!