munyaelliott

WE CAUGHT 295 PIPS ON GBP/NZD!!! LET'S DO IT AGAIN

FX:GBPNZD   British Pound / New Zealand Dollar
If price should move below the 1.9350, i will be entering a short position again. Well this trade was obviously epic, as i entered it on a Thursday, on the daily timeframe , and Friday i spent half the morning in a gruesome Financial Reporting exam. Let it be known that i normally enter my trades using the 4-hour and the hourly timeframes. This was almost a first, if not a second. Can't say i wasn't pleased when i came back and the trade started moving in my favor. It was as if it was waiting for me to come back from the exam center. This trade has taught me a few things:

1. Don't focus on pips, focus on the strategy. If you want pips that bad, go on a higher timeframe. Otherwise focus on the process.
2. Set your stop loss and take profit levels and go meet some girls. I set my stops and had to go for an exam for three hours and i trusted that even if i was wrong, i would be taken out at a fairly reasonable level. There is more to life than trading.
3. The higher the timeframe, the more your patience is tested. I held this trade for close to a day before i could see some feasible profits. Don't just enter a trade on a higher timeframe (daily, weekly) and expect miracles immediately. An exception would be when there is a market crash (like the oil crash of 2018).
4. Trust the process. This is self explanatory. If you have a working trading system, why try and modify it? No system will give you 100% success. As long as it makes you profitable, it is a good system. So be content and scan for set-ups.
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