sorry but i am new to trading so some of you may be annoyed by the simplicity of this question, but i dont rlly know where else to ask, if i have got shorts open on EUR/USD eitehr because my TP was not triggered or because i made the wrong call should i wait for teh market to eventually go down (assuming it will) or just take the hit and close them off now at negative?
BEFORE opening any order you already have had to decided where you would close the order in case you are wrong!
Once price hits that level your SL should do it for you or you close manually without hesitation.
Unorthodox Way:
if you have the time to watch screens, you could decide to close or not based on your ninja gut feelings that come with experience.
You would watch and try to catch a bouncing spot that could turn PA in your favor. But in such case you are risking to lose a little more than planned.
In either case PLAN FIRST... MICRO DECIDE later... AND if you find yourself in such a moment NEVER PANIC!
I hope it answers
Focus only on what truly matters!
