HELP What should I do ?
Pirce is pushing down on this pair and I'm already short from FTB signal (candle with the arrow; strategy has no take profit as I trail stop regularly and lock in profit as price keeps moving in my favour).
But now price is approaching the completion point of a Cypher giving me a buying signal! Should I get out the short trade and get long the Cypher ?!
That's where the power of your trading plan comes in the game giving you specific rules to follow and avoiding the confusion, panic and error-making having to react under fire.
My trading plan is very specific and I have to wait for my short to have locked in profit before I can get involved in another trade. So until I can trail my stop on the short with locked in profit, I'll be patient and wait. And if that means I miss my chance to get involved in the Cypher, I don't care. Sticking to my rules and following my plan is MUCH MORE important than being in a trade!
Have a good one folks !
But now price is approaching the completion point of a Cypher giving me a buying signal! Should I get out the short trade and get long the Cypher ?!
That's where the power of your trading plan comes in the game giving you specific rules to follow and avoiding the confusion, panic and error-making having to react under fire.
My trading plan is very specific and I have to wait for my short to have locked in profit before I can get involved in another trade. So until I can trail my stop on the short with locked in profit, I'll be patient and wait. And if that means I miss my chance to get involved in the Cypher, I don't care. Sticking to my rules and following my plan is MUCH MORE important than being in a trade!
Have a good one folks !
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