This was a textbook trade. After waiting all week and saying "no" to a number of lesser candidates, I had no hesitation entering in the face of the downgrade, nor did I feel any anxiety on the open position given my satisfaction with the trade's preparation and execution.
It remains to be seen whether the patience on exit was equal to that of entry. Total profit on the trade was only 25bps at 1R. The position was scaled out 1/3 each at +57, +108 and +140 pips. No doubt future price action will show this to be conservative, but I was mindful of the following from Max Gunthner's The Zurich Axioms ;
"You should assume that any set or series of events producing a gain for you will be of a short duration, and that your profit, therefore, won't be extravagantly big."
"The averages overwhelmingly favour quitting early."
"To match against the time or two when the decision to quit early turns out wrong, there will be a dozen or two dozen times when it turns out right. In the long run, you make more money when you control your greed."
