Hanging on to a trade over time is gonna be my new mantra! I have many times made good trade decisions (and of course many bad ones too!), and I close the good trades out too fast.
Thus i am now gonna wait till prices reach the major support and resistant zones before I close them... and I should have faith enough to at least breakeven my trades when the brown stuff hits the fan!
As of the writing of this post, I have four trades going on. Here are the standings after about 4 days (at least)...
EUR/AUD - This one has made some nice progress. Though it does get scary when it suddenly makes a big move against my trade and bring me close to break even. Hanging in at +180 pips.
GBP/CHF - One hell of a rollercoaster, was down at about -200 pips, recovered to the positive, and is now back at the negative, around -70 pips now... Hang in there! Gimme my 1k pips!
AUD/USD - At around +10 pips now, I am guessing that this would hit the target of about 300 pips over the next 1 or 2 weeks. I really got to wait it out.
USD/CHF - The week has just started, and it has been moving at the range of +20 to - 20 pips (or so)... still aiming for 300 to 500 pips...
Now lets see whether my faith keeping pays off!
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