After voicing my displeasure over the angry midget who likes to stop tap me and make price barely whiff on my target, I made a nice recovery – although that damn midget still keeps sticking around.
I’m still working on how to determine whether to let a trade keep running or to close it all and take what I have. It’s tough when price is hovering 1 pip above your target. Do you just close it and take what you have? But it’s sooo close. And so much more satisfying when price actually goes through your tareget. Or do prices have a chance to go just one more single pip?
My experience so far has been that it always likes mess with your mind and oscillate around, triggering stops and entries and have people second guess themselves. So I need to determine a better, more concrete way to take profits or let the trade ride.
And if it does oscillate around a bit, it might make more sense to increase my target a few more pips? Because if it does break out of the small consolidation, it’s not just going to do it by 1 or 2 pips, it is generally a few more either as a pullback of the main wave or a continuation of the main wave.
The chart looks nice because I have 3 winning trades in a row (well actually the second one is kind of a wash. But you can (on the second trade)see how it surged down, consolidated for 2 minutes and shot back up. Do you take profits at the bottom of that consolidation and get in the next pullback or just sit on it? It’s tough. And I have to be more decisive about it instead of shitting around hoping it’ll do what I want it to.
First and third trades were nice. The third trade I actually was front-running that bigger triangle pattern you can see – Lower highs and bottom resistance was being hit. I was willing to bet that resistance would be more likely to break than a higher high being made. And again after the big surge down, it consolidated. I closed it manually as I didn’t want to sit through another oscillating up and down, stop hunting bullshit shit.
I’m beginning to think the best way to go about trading is as a spy in enemy territory. Don’t overstay your welcome. Get in and get out. Take what you can get. The market will definitely F you over any chance it can get. Still a learning process so hoping to learn some good shit on the way. I need some Yoda skills.