TA Forex Trading

Actually kermit, my desire is 10% but my goal is anything 2% or above.    I just find anything less than 2% so demoralizing that I don't want to trade forex at all if that's the case for weekly averages.     Even 2% comes really close to making me want to call it quits.    But it would get me well ahead if I live another ten years.     Ten percent gains will put me where I want to be in less than half a decade obviously, and I might even live long enough to spend some of it if that were the case.   

But, for me to make the 10% average weekly gains I would have to take out original entry trade of 10% risk vice my current 2% risk and then add at even higher risk amounts along the way.     In doing so, a 500 pip or greater move against me in a single day, or a two week period, or whatever period when I'm on the wrong side of the trade would totally blow my account.   

We are always early in our trades here, and now that we are trading off the TDI wave count consideration, then as with any trade indicator or method, price is going where it's going until it reverses but hopefully we at least have rightly identified the 4th wave so we can begin a much safer long wave 5 position direction to trade with.    I'm not able to nail down a definitive 4th wave, much less where it's going to end for sure though, so I can never get comfortable with whatever position direction pennies is convinced of.   

Ten percent is scary risk for me when I see days where price has gone for weeks without enough pullback along the way to reduce risk, much less get back to break even.    Acad spent weeks gapping up one week after another in feb 1993 through jan 1995.    That's two years of mostly weekly gap ups.    And, that was over 20,000 pips.    If I'm not on the right side of that weekly trade while expecting but never seeing pullback at the 38.6 or 50. or 71.6 or 78.6 weekly fib levels, or if I didn't play it right on any intraweek pullbacks that might have reduced losses or more unlikely brought me back to even, then account is blown and if I opened a new account and traded the same short trade thinking that Acad had to reverse, I'd still be in deep doo doo if I didn't trade it right.    It's those 800 to 100 pip daily moves too that keep me too nervous to get comfortable with risk more than 2% on early entries.     If I had absolute trust in the TDI wave counting, then there might be opportunity where price reverses in the direction I am trading but I'm looking at the TDI indicator for the weekly Acad chart  and I see  nothing definitive there, any more than I get any solid, or more importantly, absolute reversal triggers.   

It's one fib or its another before price reverses.     It's one TDI wave or its another before the longer price action wave reversal occurs and proves out the most recent TDI wave.    All the other waves were just incidental.     It's either 5 waves, or it's 6 or 7 waves that the "experts" can supposedly divide up into smaller precise waves that supposedly nail down the 5 true waves through other questionable 5 to 7 waves along with the a,b,c and a,b,c,d,e waves.    Putting as many odds in your favor as possible isn't a good reason for assumption of trend reversal for me.    So I assume I'm wrong and plan to add, and leave room for massive price action against me while still surviving before price eventually makes its way back to break even and hopefully profit for me.     
   
And you are right.   Emotions are different when holding a profitable running trade.    If you don't take the money and run, then you risk giving up all your gains and incurring losses if you have the mindset to set stop loss triggers.    If you do take the money, then you risk missing out on far greater gains.    It's tough emotionally either way, but for me it's more demoralizing to not lock in the required 2% minimum gains I need.    So.....at times, I will go ahead and take profit then reenter immediately and let it go against me as it will with expectation of adding later or watching as price continues to move in my favor allowing me my weekly gains, plus some possibly.   But I refuse to lock in losses.   My mindset is that the only time I will close out a position for a loss is when I close my account to cash out and in doing so close out a losing trade in event I didn't have time to wait it out to profit.    The only other time I will do it is in the event I can return my open trades to break even through taking profits on my added double down or triple down positions while closing out at a loss my original positions ONLY at the point where I've already made my 2% or greater for the week.     Then I can still claim gains and yet rid myself of the risk of blowing my account.     

Nuff of those ramblings.   I hope we both get our 10% or better next week but I have a feeling I'll be scratching for my 2% as per usual.