FOREX How To

How long should I wait?

I'm getting a bit impatient with my long term USD/SGD long position and I'm starting to think about closing them next time there is a small wave which makes it profitable.

I have also been a little stupid and opened another long position during one of the troughs, however that position was only 10,000 rather than 100,000.

Maybe the trick for me to not get impatient is to just not look at them... that way when I login in a few months time there will be a nice 300pip profit. My only issue is that it's a rather slow way to gain 300pips.

Here is the current daily chart

Longterm daily chart of USD/SGD 

Update: after writing this post and looking at the chart I realised there was a pretty obvious support line which was going UP (see the yellow trendline I drew in when writing this update), so I will be holding my position. 

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