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Joined Jun 2008
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Status: Trade to Survive
|916 Posts
came rather close at the end of last week to hitting TP, and then hitting my adjusted SL. But my conviction is still to hold short and it may take a day or two for it to dip about 60 pips south to hit my TP.
came rather close at the end of last week to hitting TP, and then hitting my adjusted SL. But my conviction is still to hold short and it may take a day or two for it to dip about 60 pips south to hit my TP.
Ignored
why would you let it hit your SL while narrowly missing your TP?
i had 126 in my mind but got double minded, if i had just singularly pushed for 126 that would have been much better, i first stopped at 125.4 (wanted to extend TP but power went off) and then 125.7 but then i ultimately went for 126.
from consolidation i realized that the sell wasn't going no where and it was time to buy, from M15 i realized it was making a cup like formation as well.
what's your spread for EURJPY guys btw? mine was 3.
{quote} why would you let it hit your SL while narrowly missing your TP? regards
Ignored
Well that is how Forex Trading works for me. It is always easy to second guess or think " would of.. could of" after the fact. I set my parameters and let my trades go where they are intended to go or in this last case it did not it was either going to hit for big profit or close for smaller profit. Personally for me it is okay, because I do not believe in just closing every trade the minute it gets close to TP. How often have you closed your trades out early and realize they do hit the TP regardless? Well it's just how I do it, and I prefer not to watch the market every minute of the day. When I enter a trade it is pretty much a set and forget. The only time I make adjustments is when my TPs are triggered and I am alerted, and I adjust my SL to protected levels. Then I ignore my charts and let the market decide where it wants to go. I entered this trade on 8/14 and although it took more time then usual I netted quite well on this set. I hope you do not think I feel you are wrong, but I just prefer to set and walk away and not worry about what it all looks like just it either hits TPs or retraces back and hits SLs.
