Good morning all, I recently opened a demo account, i was able to place a stop/loss and buy limits in place. But the question I have is. Is there a way to exit a trade, when I’m ready or do i wait until the price reaches the stop/loss or buy/limit position?
Stop-loss and TP are essential features of every demo account. Get a new demo account if they’re not included. If the account is too tricky to use in demo mode, then you should definitely avoid a live account from the same broker on the same platform design.
Actually everything I’m learning in babypips I’m seeing on the platform, because of babypips I’m actually able to understand exactly what’s happening.
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i think you are going very good and of course you have chosen the right place as baby pips, just keep learning from demos experience including active in this community. good luck
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I think a lot of it has to do with realistic expectations, caution, and greed.
Realistic expectations and greed are opposites of the same coin, I think.
If a pair is going in your favour, and you’re moving your stop loss, that’s a smart way to do it, but for me I’ve lost out on an extra 15% profit because I didn’t get out.
I should have closed my position, but I got greedy, moved my stop up, and shortly after, I hit my stop and earned some pips.
But, I could have gotten more, if I just decided to close and walk away. It’s the “fear of missing out” that can get you sometimes.
Just be cautious, follow your strategy, and manage your risk.
Easier said than done, though.
Hi mate, no you can cancel the pending order anytime you want. If you’re already in a position you can close the trade whenever want. You dont have wait for it to hit your limits or SL.
Yes i know i can cancel at anytime, what i wanted to know was what is the procedure. How do close a position?
Click the small x at your terminal window to close trade immediately if you need it urgently.