When Trading is the Most Frustrating thing…

A trade that I still have open is the one below. I had went long at 14438 earlier today on the EURUSD and saw that it had failed to go above 14500 and it did make me think if I should close the trade for a healthy 55 pip profit. However, for this trade, I was looking at the 4 hour and the Daily Charts to gauge an entry and they are still telling me that the market is still in an uptrend… I sure hope so. As you can see from the below chart taken at 22:10 UK time, the price action has fallen all the way down to my entry level and now my stop is a mere 28 pips away.

Of course I would be disappointed if my stop is hit at 14410 which will mean a loss for this trade rather than a decent profit when I previously thought about getting out.

Trading sure can be one of the most frustrating endeavours…  as a consolation, you will be frustrated whether you you sold out early for a profit to find that the market moved upwards for more profit.. or if you thought the market would indeed go higher so you remain in the market to find that the market then drops and hits your stop. The thing about trading is that there is no right or wrong.. the most important thing is that you follow your system (you do have one don’t you?) My system tells me to hang in so I’m doing just that but boy, if it does hit my stop, I will be annoyed! My previous trades today were losses so there’s that part of me which will be annoyed that I had a chance to get out the market with an overall profit, albeit a small one.


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Category: Forex trading, Trading