Will this £10,000 trade implode?

Will this open profit implode next week? Today I discuss risk events around tariffs plus thoughts around holding onto open trading profits going into a weekend...
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[@Trade1984-os7rf]

Thanks Charlie, some food for thought here! Been working my way through some of your Tickmill webinars and finding real value being added to my own trading plan. So thank you for that!

[@charlieburtontrading]

@@Trade1984-os7rf you’re welcome

[@b.7944]

Thanks a lot Charlie but what is the target in this case? Is there a way to understand that it is time to take the profit? Is it dynamic or just let's select a positive R:R ?

[@charlieburtontrading]

@@b.7944 the target in this case is still further away. So the point being made was sticking with the plan. Otherwise there’s always going to be a news event that will come along that you will use to justify banking. The only situation where I would bank is if my target was now very close so in which case I would have done

[@danchanner7887]

The tariffs have been announced. So what are the latest retail sentiment figures for EURUSD? 80% long?

[@charlieburtontrading]

@@danchanner7887 I haven’t looked but yes I’m sure they will be net long

[@Timmy51m]

I have my eye's on a potential long position for Monday. Purely technical, as I see a clear 5 waves off the low, and now a 50% retrace off of that low which is sitting almost exactly on a trendline pulled from 30th Sep high across 6th Nov high it broke out from, and the 21 sma. I'm not very good with high risk entries so I'll wait a little to see how it plays out, and my entry likely won't be great if I catch it as a result of that and work schedule, but that is my idea in a nutshell. Wave theory would say that if it starts with 5 waves it must end with 5 waves, so if you believe that to be true, then even if it were a corrective bounce off the low, it can't be over yet. Cheers Charlie.

[@charlieburtontrading]

@@Timmy51m good stuff👍

[@Timmy51m]

@@charlieburtontrading Well it didn't take long for that idea to get invalidated, well done Charlie.

[@charlieburtontrading]

@@Timmy51m Like I always say, just trade your plan...

[@999adam999]

Why did you block out the quantity and price ?

[@charlieburtontrading]

@@999adam999 because it’s a trade that I did in my trading room. I wasn’t giving all that information out on KZbin

[@JagaranBohara]

Hi Charlie, I’ve been following your KZbin channel for 6-7 months and it’s completely transformed how I approach trading. I’d love to join your membership, but the cost is beyond my current budget. Do you ever offer partial scholarships, payment plans, or free access in exchange for helping moderate your community or promote your content? Either way, thank you for all you do!”

[@charlieburtontrading]

@@JagaranBohara thanks for you feedback. Just get in touch with Sam via my website. There is a cheaper option to join via silver membership

[@JagaranBohara]

@@charlieburtontrading Charlie is it wrong to have an positive view point for euro ?

[@charlieburtontrading]

@ no not at all. Everyone will have different analysis. Just stick to your plan

[@jokanaan2486]

I really like your videos but in this scenario I both agree and disagree. I absolutely agree with sticking to your plan and not getting fooled by temporary spikes. In the end if we cut every single position short before it reaches its target, we will never make any serious profits to protect us from drawdowns. That said, I don't entirely agree with holding trades through binary events like Trump's tariffs announcement. In my mind it's like holding a trade through FOMC or CPI, hoping the market will react a certain way. While some traders do that and all the power to them, it's still 50/50. EUR/USD already had all this juicy downtrend to ride until this point, so why risk it now to squeeze potentially last drops from it. That said, me disagreeing only makes your point stronger about this trade being your trade and not mine and sticking to your plan 🙂

[@charlieburtontrading]

Yes valid point and like you said it is indeed about sticking to your plan. I stay in trades for sometimes several months so I can't jump out just because of FOMC etc.... And my analysis is not for a few drops more, still see us as purely mid-way....

[@jokanaan2486]

@@charlieburtontrading Ah ok. I was looking at it more like a day trader.

[@charlieburtontrading]

@ well as a short term trader I would definitely have banked the profit!

[@merchantgold6327]

Why would you hide the open price?? Photoshop gains

[@charlieburtontrading]

@@merchantgold6327 because what I trade specifically is done in my community. I’m not showing the entries to the public