Liked the level. Bought. Watched it go 14-15 pips against me.
Took profit at net +4.1 pips.
Duration held: 15min
Maximum underwater = nearly 4x my actual profit.
Considered averaging at 1.4850, but thought I'd let it fall 20 pips before I do anything.
But this once again showed me I probably need 80% winners to survive with my trading style (for when I do get stuck with a loser it sure as hell won't be 5 pips!).
Money management and risk control is always the key to be success in trading.
ReplyDeleteKeep the stop small and take them, you can always enter later when you see the price is more attractive.
Happy trading.