Open trading account 
Hello Fellas,
For some of you, holding a trade position since Monday may not only sound absurd but unrealistic.
Well, you are entitled to your opinion or feeling. However, you should know that as you advance in you Forex Trading Profession, you will have to learn to purge some of the earliest trading pattern of intraday scalping that you are use to - although good sometimes, but it could proof disastrous many of the times. Take this scenario:
Infact, a situation will occur when you finish close out a profitable trade on a small gain, later as it continuous your trade direction you start lamenting that you left the market too early and that move you to put another trade same direction, but the market returns against you and wipe the entire profit and other of your equity.
It therefore means, that you should have left the trade to continue by determining the current market strength and news drive and close out when you are saturated with profit pips as market keep going your way. However, my today BLOG TITTLE came to my mind because since Monday I forecasted a continuous upward trend, the market has gone up considerably for me to take huge profits but i did not close out. Perhaps because I wanted it to hit close to the target I forecasted. Instead, the market appears to be retracing to almost the price I first started on.
Anyway, I still have some gains if I chose to close out, but I will wait to see the impact the EUR NEWS - Minimum Bid Rate and the ECB Press Conference will produce.
THEN CERTAINLY I WILL DECIDE TO CLOSEOUT.
Enjoy your day friends.
See beyond failure, for there lies success!
Chidi-James
For some of you, holding a trade position since Monday may not only sound absurd but unrealistic.
Well, you are entitled to your opinion or feeling. However, you should know that as you advance in you Forex Trading Profession, you will have to learn to purge some of the earliest trading pattern of intraday scalping that you are use to - although good sometimes, but it could proof disastrous many of the times. Take this scenario:
Infact, a situation will occur when you finish close out a profitable trade on a small gain, later as it continuous your trade direction you start lamenting that you left the market too early and that move you to put another trade same direction, but the market returns against you and wipe the entire profit and other of your equity.
It therefore means, that you should have left the trade to continue by determining the current market strength and news drive and close out when you are saturated with profit pips as market keep going your way. However, my today BLOG TITTLE came to my mind because since Monday I forecasted a continuous upward trend, the market has gone up considerably for me to take huge profits but i did not close out. Perhaps because I wanted it to hit close to the target I forecasted. Instead, the market appears to be retracing to almost the price I first started on.
Anyway, I still have some gains if I chose to close out, but I will wait to see the impact the EUR NEWS - Minimum Bid Rate and the ECB Press Conference will produce.
THEN CERTAINLY I WILL DECIDE TO CLOSEOUT.
Enjoy your day friends.
See beyond failure, for there lies success!
Chidi-James
