Hi Guys, how long you hold position ? (in Profit or Loss)

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.

thanks Paypip. for mw mostly less than a day.
im still new at forex, need to learn much thing

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

thank you mam_dotcom, still need to learn much thing in this new forex world.
still have to use demo account i guess. cant risk much :D

Good luck

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.

intra tradng was the best option with proper stop loss and take profits seting

SL and TP determines. Usually between 10 min and few hours till max 24hour. But thats because we hit.

I never have worked with a strategy which was time depending. Like if the.. is not hit after .. then ...

Would love to see an example though

I Try to stay as less as i can. 24 h Max. Average Time of thee hours. Most of the Time less than an hour.
I think it really depends on your trading style.

depending on the price of the next move (google translate)

As long as my TP n SL need to... hehe...

Hi,

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.

Good luck and safe trade.

My EA Robots hold position from around 30 minutes to max around 6h. But it is enough to make +800 pips in week.

As far as my TP and SL

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.

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?

Sometimes i keep the position open for a couple of days in the raw. Nothing bad will ever happen if there is a SL