Hi, one of my new private students suffered the pain this week, he missed an entry by 1 pip and then watched the trade move 100 🙁
I on the other hand caught some of the trade. Why?
I split the entry into 2. One at a higher level and one at my preferred “A” grade spot. I have explained that I have been doing this a lot this year as there is nothing more frustrating than waiting weeks for a trade to only miss it by a few pips.
*In Sunday’s post, I talked about this for the Aud (which I did catch half of) and the Euro/Gbp which hasn’t moved enough so far.
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I also caught half of the NZD/CHF. My Cad trade worked yet again. I then scaled out (took most of the profit off) and left the balance to run…which it did for almost 100 pips 🙂
All pre planned and shared with you on Sunday. In total more than 300 pips for the week, but is it? I only caught half of 2 then scaled out of another so its probably “only” around 150, but better than missing them!
The moral of the story is be flexible both with entries and profit-taking. I already made a month’s profit by the 14th of this month so any extra pips are pure profit
Also my private student Ashley shared a EURGBP trade where he made 50 pips. He also took profit on the AUDUSD banking 70 pips before it started reversing, ending the week in profit.
Check out the video so you know what to do next time: