Often talking about patience in trading (and many other areas in life) but it's a skill that requires lots of hard work and practice to "master".
Had been in that long USDCHF for some weeks now, and after breaking above the previous level of resistance, I was expecting a period of consolidation and and a continuation to the upside (where I could have added to the current position). Consolidation indeed, but the price ended up getting back below the broken resistance level and hitting my trail stop for a nice total profit of +283 pips (-29, +19, +166, +127). The cherry on the cake was the positive overnight fee that really helped, in allhonesty, being patient and let this trade run as long as possible : the longer it was open, the more it was adding some extra cash with each day!
Had been willing to benefit from the move down but never got a reason for entry, and now interested to get long again as price is a previous support level, RSI oversold, so a double bottom or a breakout pattern would allow me to buy this pair again! But until I get my rules met, I sit on my hands and practice my patience :)
Have a great week in the markets!
Had been in that long USDCHF for some weeks now, and after breaking above the previous level of resistance, I was expecting a period of consolidation and and a continuation to the upside (where I could have added to the current position). Consolidation indeed, but the price ended up getting back below the broken resistance level and hitting my trail stop for a nice total profit of +283 pips (-29, +19, +166, +127). The cherry on the cake was the positive overnight fee that really helped, in allhonesty, being patient and let this trade run as long as possible : the longer it was open, the more it was adding some extra cash with each day!
Had been willing to benefit from the move down but never got a reason for entry, and now interested to get long again as price is a previous support level, RSI oversold, so a double bottom or a breakout pattern would allow me to buy this pair again! But until I get my rules met, I sit on my hands and practice my patience :)
Have a great week in the markets!
That's what it's about : discipline, following my trading rules and NEVER chasing a trade!