I closed 50 % of my CHF/JPY position with a profit of +172 pips. But i had to intervene manually which i hate. My target 1 was 113 and on 12th of July price topped @ 112,972, which means price was just 2,8 pips away. Then after a nearly 70 pips correction, i decided to take the half of my position out. I do not like to intervene manually because i do believe that trading should be nearly 100 % systematic. My mentor Will always metioned it: We do not live in a perfect world.
This position needed more than 35 days to make “just” >170 pips of profit and such wave moves are always challenging the trader especially from the mental side. I am always happy of taking profits but i do not like to intervene.
The stock market is tricky too and challenging a lot of short term traders. Price is clearly i a range (287-253) and the last two weeks market made green bars and closing at the top of the bar, which is generally a bullish sign. Last week we had 3 days with OEX PCR well above 2 and one day @ 4,68! Is smart money building up hedges? We do not know and the only way we small traders have, is sticking to our trading plan. I hold my long portfolio with some hedges wih SPY short and time will definetly give the correct answer.