How long do you typically hold on to a trade? Are you willing to carry it overnight? Perhaps even over a weekend? So many traders look to get daily action. They enter in and out of the market multiple times a day. Why such stress?

Now I have nothing against short term trading. I’m just at that point in my trading journey, where I don’t need the fuss. There’s much more to life than just sitting in front of a computer, and I for one want to check it out.

As a result, I am a long term. I prefer sitting back, monitoring the markets once, maybe twice a day, and continue on with my life. And let me tell you, I’m just as successful, it not more, than the trader that likes to grind in the pits of the day trading arena.

On the 16^th, I made a trading call. We are now 9 days into that trade. Over that time the trade is now up over 440+ pips. Would you have been able to hold on?

Just three days ago, the pair began to retrace. It threatened to take nearly every pip of profit it was worth at that point. However, I didn’t bat an eye. Know why? I had trust in my trade. My technical analysis confirmed a bearish market, and I wasn’t about to let a little retrace push me away.

I still believe there is room for this pair to still fall. I’ve drawn two downward trend-lines creating a channel. I do not have any intentions of leaving this trade until my profit target is hit, or the price closes above the top of that channel.

Related posts:

1. Trade Signal Update – GBP/USD short – 195+ pips!
2. Trading Signal – Short GBP/USD @ 1.6391