Hi Guys, how long you hold position ? (in Profit or Loss) Helllo other fellow trader, just want to know how you guys manage open position, how long you would hold for that, in minus position or profit position? and why ? Thanks in advance
This all depends on your tolerance for risk and the size of your potions. If you trade small your ability to hold trades is magnified, if your size is to large you will be pushed out of your position sooner than later.
Having said that, I use the VIX to determine my reasonable expectation for a daily move. VIX under 19 I look for .5% moves. VIX over 19 I look for a 1% move.
VIX presently is trading at 13.57 this tells me to look for a .5% daily move.
EUR opened at 1.3018 so .5% (65 pips) move would be 1.3083 on the high side and 1.2953 on the low side. This to me is a reasonable expectation of a daily move based on volatility.
Hi Each position must be calculated If you trade in a day Or dealer a long move What do you expect of the position How much risk you are willing to take In short Should study the market well Learn strategies And trading tactics Difficult to explain in a nutshell
Hi guys and gals presently I am holding open positions on the eurusd with a loss of 25 pips as I am short I still believe my trade will go into profit even though this pair trading on a 3 week high I would be interested to know your thoughts for next week
Hey great advise above, ATR is the key, work out your position size based upon SL levels required. I myself hold positions far to long until they become profit, hedging and waiting for the market swing sometimes 200+ pips. With small accounts the main aim to preserve our profits when they come, having price action come into profit & then retrace only to stress our margin levels always makes me feel ill. So I like to 'Make hey whilst the sun shines' & collect my profits early.
The most important factor of any trade I believe is entry, great entry's reduce stress levels & increase enjoyment 10 fold :) Donchian Channels, Aroons even Fractals can really help find that entry your looking for and reduce risk dramatically when opening positions.
I think that the real question you should be asking yourself is : What time frame to trade and where to place stop loss and set targets. Without answers to these questions you will not close loosing trades and you will be closing profitable trade very early.
I think that as long as a trade did not touch its stop loss or take profit levels then it should stay opened. Remember, trading big time frames require keeping a trade opened from several hours to several days .
As you are a beginner, i advice you never to risk more then 1% on the overall positions you have in the market.
George_W posted: It is all on you: if you are scalper, long-term trader or intraday trader. As for me, I never let the trade to stay over the night. If it didn’t reach SL and TP I close it anyway with the NW closing.
As for me, it doesn't matter to close the positions before going to bed. If have your SL and TP then what is wrong with keeping your trades open?
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