Earlier when I enthused on my EURGBP strategy I should have clarified my own position on this; in case I didn’t make it clear I apologise now…
The example used which did turn out well was based on an intra-day opportunity on a 2:1 favorable risk/reward ratio – risking 20-25 pips to make 40-50.
I did mention afterwards that I believed it to be a ‘keeper’ in spite of that 2:1 r/r short term opportunity.
However I do and will keep repeating that my OWN view is longer; I hope that doesn’t impart or infer that you should feel the same. My goals are often 4-6:1 ratios.
If you had a similar view and are comfortable that is good; however if you are going to be concerned, sweating and down-right annoyed that you missed the profit opportunity then I suggest this…
Make sure you leave your stop and profit parameters when you post the order and then the problem is solved; and remember that taking a profit is incredibly good for the soul, the account balance and the next trade !
