Staying patient

Earlier today I was eyeing up a USD CHF long, with half an eye on USD CAD long. I didn't quite have confidence at the time to place a trade and was waiting for a stop loss I felt comfortable with.

I've since been to my nephews school Christmas carol service and also managed to catch the last half hour of a European 'football' match.

I've then arrived at the charts to see the 'opportunities' I've been eyeing up have kept on going up and it now looks too late. If I would have been 'glued' to the charts I most likely would have already placed a trade and it would have hit, or be very close to profit.

I still think the trade ideas are valid. But I must now remain patient and continue to wait for a stop loss I feel comfortable with.

And that's the balancing act you have to deal with as a trader. Going about your every day life Vs being at the charts at the right moment.

I don't see it as a missed opportunity. My view is that at least I got the analysis right. The important thing is that 'in the moment' I made a decision I would stand by tomorrow. And as long as I keep gathering enough information and keep making decisions I would stand by...Ultimately, the account will continue to remain in profit.

Please email any questions or thoughts: johnelfedforexblog@gmail.com