How many times have we heard this one? A forex trade is not just a position.

It’s also:

• The reason(s) for taking that position
• A stop loss level.
• Profit taking levels.

It’s all of these and they should integrate – and when they do, that’s when a strategy begins to form.
In the long term, it’s the strategy that will be your best friend – unless of course it’s completely mistaken.
A trade has to be part of a strategy, or it’s nothing.