This post is a follow up to the "Training Over Trading" post that should be right under this one. In that post I predicted a trade setup but didn't take it because I didn't feel comfortable using live money on it yet. rather I decided to use it as a training exercise that would help me in the future when it comes to creating rules and putting it in my trading plan for the future. If you compare charts you'll see that the trade in fact played out in a profitable way. The 3 lines on the side are the possible targets that I would have used. Target 1 would have been collected at a retest of the base of the original entry for around 230pips. Target 2 would have either been at the Fibonacci confluence level banking 390 pips or if I'm aggressive I would continue to trail stops in hopes of an AB=CD completion for around 600 pips. I've learned the hard way, not to get greedy in this market, take your profits and ride out. But if enough testing is done, I'l be able to see which target has the most probability of being hit and create my exit rules around that data. That's a long ways away and a lot of hours of testing away, but that's what goes through my mind when looking at adding something to my trading strategy.
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