How long do you leave your orders opened?

The point is that sometimes you have to be patient to achieve success. Price trends on short timeframes may look confusing but the challenge is to believe you are right and keep a trade till it hits SL or TP. Simple as that.

It depends on the situation, the deal might hang around for 1 day, or maybe for a month, depends on the strategy. But in general I personally set the stops and don’t have to check into the terminal every hour, I know I’ve minimised my risks.

Long term traders hold positions for long time , they have to get their targets, they wait for time that suits for them. How ever a normal trader should not wait for much time he should make small targets easy to get in less time…I not wait more
than 1 day with open positions.

Hi,

This is based on type of traders. I mostly preferred long term trading. Because we get strong data on long term trading when compared to short term trading. There are noises we can see in short term trading. It may confuse you on patterns emerged in charts.

-Jim

I am not a long term trader yet so I prefer to hold my positions opened between few hours and no longer than a few days. It all depends on where the market is going. Sometimes I’m nervous too if I feel that the movement is not going into my direction so it happens to cancel some orders. But overall it depends on your strategy. Different traders have different strategies and of course the instruments which you trade contribute to it. Basically the more experience you have the longer you can afford to keep your orders opened.

And do you just sit and watch the price movement for hours? Or just set SL and TP and leave it?

I am also a short term trader , feel no need to hold on positions for a long time. I make my targets that can be achieved within few hours. I do not open positions for next day . Try to close them at proper point. When I am puzzled with trading as it not give me right return I use different tools if leave positions open for next day.

I seem, you are asking here my trading style! Yes I am an intraday trader and I would like to close all of my trade positions in a day whatever result it is! Yes, sometimes I need to close with negative result but I respect my trading plan more! Usually I use 35-50 pips TP and I need 6-7 hours in average!

No, I don’t monitor them for hours as at the moment I don’t have that time. I often check them from my phone but sometimes I do place SL or TP, TP more often actually.

Setting SL and TP if one cannot monitor the charts at all times is a good idea. Actually it’s always a good idea to set them, just in case, even if one does monitor the charts.

Well, I prefer M15 and M30time frames for my scalping trading! Yes, I use these two time frames in a time! I actually predict the trend of market according to the movements of M30, and then I set my entry and exit points in order to the chart patterns of M15!

If all depends on your strategy, on the assets you’re trading with and on the situation on the market. I prefer to trade in the mid or longterm, sometimes it happens that the deal may remain in the air for two weeks, sometimes up to two months.

Hi, You must read the tutorials regarding this which will help you.

If you are earning with the scalping strategy then you should continue this strategy, no need to leave you orders opened, you should trade with proper planning and should close the position after achieving the target, scalping is the best method.

Hi service - I’d say you are correct - if scalping, orders should not be left open and positions should be closed as soon as the target is reached.

However, day-trading is a bad mistake.

Honestly, I am not ready to accept the loss, therefore I always close my opened position after getting profit even small profit also acceptable, I am attached with this business since long and I am achieving my target efficiently and I am enjoying forex fruitfully.

My orders stay open until price reaches a new s/r level that renders the logic for the order obsolete or if strong price action or price pattern indicates a move contrary to my order, regardless of s/r level.

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Usually I will look and analyze update current market condition, if likely trend still continue hence will let order on floating and put target on resistance area but if likely trend will rebound it’s time to close order

I will close the order as per the market condition. Holding orders for more than one day can lead you to lose. So it is always better to close with little profit.

I think all newbies begin with scalping… I also scalped wen I started. I try to ride the trend and keep my positions until my TP is reached. My golden rule is to set a reward ratio to 1:2 and at no time to risk more than 2% on trade so I can keep a position open as long as it is going in my direction. I don’t close when I see some losses cuz I know I have a good risk management. It is important to know when t close and when to continue to hold a positions.