Forex Trading Recap: 14 January +19 Pips
Back to the grind! After a lengthy holiday break it’s time to get focused on trading again. Markets are still a bit slow but things should be ramping up over the next few weeks. Until they do it isn’t really about having huge days as any pips are good pips in current conditions.
Today was another day that really showed the benefits of risk/reward. There weren’t a lot of great opportunities (typical of a Monday) but the wins paid well and the losses were relatively small in comparison. Someone with a bit more patience could have had a very good day if they managed to hold that third trade longer than I did. I find I have plenty of patience during quicker markets where I can trail stops but when things are slow I am often a bit too quick to bank my pips.
It’s a fine balance when it comes to trade management and optimal exits. Perfection isn’t possible in trading so the goal should simply be to make good decisions that you are happy with when you review after the trading day is done. If you can look back and you are comfortable with the decisions made and would make similar ones in the future then you know you had a solid trading day regardless of the total pip count.
Check out the trading review for the day in the video below: