Walking away from a beautiful setup is hard to do!  Walking away from a setup that doesn't meet one's Reward to Risk ratio requires discipline.  Without discipline a trader will flounder, lose both consistency and confidence.

This beautiful setup required approximately a 25 pip stop loss to ideally net 54 pips.  This did not meet our 3:1 Reward to Risk ratio minimum.  It is always better to come back tomorrow than to break one's rules and get stopped out.

I was taught by the largest currency trader in the world how to trade.  He is also one of the largest commodity traders in the world.  He will pass on a trade that is 2.9:1 Reward to Risk - that's 2 point 9 to 1. That lesson is always foremost in my mind before I take a trade and ingrained in my students.

Back tomorrow.

Good luck with your trading.

Michael  www.privateforexcoaching.com

Questions???  Michael@privateforexcoaching.com