Forex trading is not meant to be exciting, although it can be. Forex trading is not meant to be executed whether your trade is negative or extremely positive. Forex trading is planning, execution, and patience. Whatever your forex strategy is…stick with it. Don’t bend the rules. No matter what fundamental reports have come out, no matter what technical analysts are saying, no matter how many of them are saying it…if you have a proven, tested strategy against years of data…FOLLOW IT!

I recently bent the rules on my strategy. I was in a long-term GBP/USD trade for almost 2 months. Per a prior post of mine, I exited a short-term trade to capture profit temporarily. One can capture some nice profit when a short-term trend breaks against a longer-term trend.  That wasn’t bending the rules of my strategy. The problem was that I never entered back into my long-term short trade with the GBP/USD. You’ll also see in a prior post of mine on the GBP/USD that my strategy shows the GBP/USD in a Daily downtrend, 4hr downtrend, 1hr downtrend, and still in a 15min downtrend…but I never re-entered my long-term GBP/USD short trade.

So, all of this to say…if you’ve developed a strategy which is proven over years of data, backtesting, and demo-trading…FOLLOW YOUR STRATEGY!!!