How long do you wait before opening the trade?

[M.Joey]

@ria_rose

Hellooo! Haha. I’m currently watching GBPJPY on demo, waiting for a crossover so I can open a position. 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?

It varies from time to time ranging from half an hour to several hours.

[ria_rose]

That makes sense. Would you happen to be a part-time forex trader also?

[robertjoly]

If my set up is valid, I enter a trade, waiting too lomng isnt beneficiall because I might not get that set up and today.

[Fin_Trader]

I trade intraday. Therefore, on small timeframes on different currency pairs, it is possible to make about 10 trades per day. But even here you have to wait until the strategy and its rules show when you need to enter the market. This wait is about 1-2 hours.

[JohnOptimist]

@ria_rose

after spotting a good entry, how long do you wait before opening a position?

If ever I saw a good entry, I’d want to enter immediately, not wait. Really, I only ever spot a good potential entry, not a good entry.

I say something like, “The price is rising, and if it reaches this level, or that level, I’ll want to enter,” and I place a stop-order entry at that level.

I can’t control whether or when it will be activated. Other market participants collectively decide that. Sometimes it isn’t triggered at all, in which I case I don’t want to trade, and remove the entry order.

[Heary1950]

I took only one week to open my first trade.

[ria_rose]

@JohnOptimist

If ever I saw a good entry, I’d want to enter immediately, not wait. Really, I only ever spot a good potential entry, not a good entry.

That’s interesting! Honestly, I want to do the same, but somehow, I always end up with negative results when I make quick decisions. Are you following a particular strategy? Is your entry/exit guided by this system?

[ria_rose]

Oooh. Congrats! Hahaha. And how was it? Was this a LIVE trade?