You know that feeling when you are about to go to bed, and you think that you know which direction a pair is moving, but you also think that in the short term (next few hours) there might be a correction, so you play it safe and close your position, and then in the morning you find out that the pair moved in the direction you thought it might move, going up almost 1%?
Oops.
The lesson is to take risks, but leave a stop loss. Or, don't have a position open but use a stop loss to open a bid if the price starts moving in the right direction.
Why do I need to sleep anyway?
Nevertheless, yesterdays prediction was accurate, and I did make a profit, albeit not as much as I had hoped for.
Next it looks like GBP/USD is breaking out
And on a longer timescale.
Of course, with GBP/USD and USD/JPY breaking out, GBP/JPY is going to be very profitable!
Oops.
The lesson is to take risks, but leave a stop loss. Or, don't have a position open but use a stop loss to open a bid if the price starts moving in the right direction.
Why do I need to sleep anyway?
Nevertheless, yesterdays prediction was accurate, and I did make a profit, albeit not as much as I had hoped for.
Next it looks like GBP/USD is breaking out
And on a longer timescale.
Of course, with GBP/USD and USD/JPY breaking out, GBP/JPY is going to be very profitable!