How long do you wait before opening the trade?

Beginner Questions
1

Hellooo! :blush: Haha. I’m currently watching GBPJPY on demo, waiting for a crossover so I can open a position. :sweat_smile: I know it varies depending on personalities and strategies but kinda just got curious. On average, after spotting a good entry, how long do you wait before opening a position? :blush:

2

Hi, 1-3 days on average Regards Greg

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3

I would say that if you have identified a good entry then you should enter the trade and not hang around. If you need to wait for something else then it is not really a good entry, it is more of an “almost a good entry”.

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4

i don’t decide, to me that would feel like “guessing”

i enter all my trades by buy-stop/sell-stop, so the price movement decides for me: either it hits the entry or it doesn’t :slight_smile:

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5

Once I spot a good entry, it’s really up to the pair to hit the prices I’ve set. If I’m waiting for confirmation, then as soon as that’s hit, that’s when I enter.

How are you currently doing it? :slight_smile:

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6

About 0.5 sec and sometimes out in 1sec :sunglasses: :+1: :rofl:

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8

Once I see what I needed to see. It’s go time baby.

Hesitating or need extra confirmation means that you already know what’s going to happen in the future. Or even worse, you’re not confident with your skills yet.

Once the setup has come, never doubt yourself.

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9

Limit orders for the win.

10

I do a mix of “If the entry is there, take it straight away”, and setting an entry price and letting the market moves decide. Which now I think about it is more of a “the entry is not there yet… but if it hits this price, that will be a good entry, so take it then” :thinking:

11

I seem to be getting long right after the buying has ended. But right before I start a new game in ARMA 3. So I guess it’s swings and roundabouts.

12

Once your strategy is signalling you to open a trade, you should open a trade. You just need to make sure you manage your trade correctly in regards to risk to SL etc. If your second guessing your strategies signals, I would assume the strategy isn’t correct.

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13

Interesting! :open_mouth: What do you usually base this on? :blush: Or is this the average time you take to rest in between trades? :blush:

14

That makes sense. :confused: Although, I’ve also had a lot of experiences in the past where I jumped the gun to early and ended up getting stopped out. :sweat_smile:

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15

That would definitely make it easier. :open_mouth: Has there been a time when you decided to deviate from this? :thinking:

16

There you go again with super intense trades that I wouldn’t be able to survive at all. :sweat_smile: :sweat_smile:

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17

I divided number of trading days per year by number of trades per year

18

That makes sense. Haha. :smiley:

19

I don’t think that I should wait before opening a position. If everything looks good and all the indicators confirm my analysis then I go for it.
I can be wrong, but that’s why we set stop losses.
By the way GBP/JPY is a great pair for chart analysis. However it’s very volatile and not that safe to trade for beginners.

20

I automatically put a delay into my trades but that’s because I always open them via a pending order - the order is only triggered if price gets to a certain level marked on the chart. Obivously I cannot tell how long it will take to get there so first thing I need to do when I go back into the platform and check charts is to find out if any pending order is still relevant and if it needs to be adjusted up or down. I don’t put a time limit on these things, it’s driven by the TA.

21

Personally, I often use limit orders to automate entries once certain conditions are met. It saves me time and ensures I don’t miss opportunities.