Stick to your plan ! At all cost !
This pair had been testing my consistency today. As price started to make its way towards my first target, it can a few pips from my target order, and then retraced back a bit above my entry.
I have a rule in my trading plan that allows me to move stop to BE if price comes within 2 pips of my target order. A few fellow traders have the same rule, and it got triggered for them as price came without 2 pips on their data. But in my case, price came 3 pips from it, not allowing me to move stop.
But that paid off in the end because price has now finally hit my first target, stop is now moved to BE and now let's see if I get filled on T2 or stopped at BE.
Either or for me it does not matter, I have proven to myself again that I got the consistency under control and can stick to the plan even when it's tough.
Tapping myself on the shoulder for the job well done on this now.
Remember : you don't spend dozen (if not thousands) of hours to develop your trading plan and specify rules, to not apply them when being under pressure ! Process over outcome !
I have a rule in my trading plan that allows me to move stop to BE if price comes within 2 pips of my target order. A few fellow traders have the same rule, and it got triggered for them as price came without 2 pips on their data. But in my case, price came 3 pips from it, not allowing me to move stop.
But that paid off in the end because price has now finally hit my first target, stop is now moved to BE and now let's see if I get filled on T2 or stopped at BE.
Either or for me it does not matter, I have proven to myself again that I got the consistency under control and can stick to the plan even when it's tough.
Tapping myself on the shoulder for the job well done on this now.
Remember : you don't spend dozen (if not thousands) of hours to develop your trading plan and specify rules, to not apply them when being under pressure ! Process over outcome !
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Well, sticking to the plan pays off : T1 and T2 hit for a total of 97 pips !
