Hello,
I have bent a little from my rule book today.
I have erased the stop loss from the deal at 1.3199 for some time. Else, it would have closed with a stop loss kept at 1.3099. I recall, when I had kept that entry order, I did get an intuition that the market could recede further down, but somehow I went wrong with that one.
So, I am in a little cautious mood to rectify my error. But I am doing this with a little caution too.
Considering the 4H charts, the market is bound to pull back a bit; but when does it start that way, I really do not know.
Hence, I have decided to wait till tonight, if by then I do not get a clear signal of the directions of the market, I would close this deal at whatever price (loss) I get.
So if that happens, it will bring the first loss of this week, and it will eat up 2/3 rds of profit earned from last week.
But nevertheless, there are other 2 orders also open, which could even out this loss; they are:
Buy orders at 1.3149 and 1.3099, both have a stop loss of 100 and a profit of 50 pips.
If these 2 deals end in profits, then this loss(if realised) would even out.
Also, I have kept another buy entry with the same profit and loss levels at 1.3049 levels.
And just rounding up the scenario since I started trading on the 17th of May:
my account is up by 500 pips since then.
Hope yours is too; Happy Trading till I update my posts till tomorrow.
I have bent a little from my rule book today.
I have erased the stop loss from the deal at 1.3199 for some time. Else, it would have closed with a stop loss kept at 1.3099. I recall, when I had kept that entry order, I did get an intuition that the market could recede further down, but somehow I went wrong with that one.
So, I am in a little cautious mood to rectify my error. But I am doing this with a little caution too.
Considering the 4H charts, the market is bound to pull back a bit; but when does it start that way, I really do not know.
Hence, I have decided to wait till tonight, if by then I do not get a clear signal of the directions of the market, I would close this deal at whatever price (loss) I get.
So if that happens, it will bring the first loss of this week, and it will eat up 2/3 rds of profit earned from last week.
But nevertheless, there are other 2 orders also open, which could even out this loss; they are:
Buy orders at 1.3149 and 1.3099, both have a stop loss of 100 and a profit of 50 pips.
If these 2 deals end in profits, then this loss(if realised) would even out.
Also, I have kept another buy entry with the same profit and loss levels at 1.3049 levels.
And just rounding up the scenario since I started trading on the 17th of May:
my account is up by 500 pips since then.
Hope yours is too; Happy Trading till I update my posts till tomorrow.
