Until stops or Take Profit is hit!!
EA open position on demo, but not open position on real account. Any Comment 7 replies
How long do you hold a trade and are you profitable? 22 replies
FXCM wont let you close your position! 30 replies
Long position or short position 6 replies
How long to hold on to a position 6 replies
DislikedI don't want to refute your method - you should do whatever works for you - but I feel compelled to point out for the noobs reading this thread that your stated strategy runs counter to "conventional wisdom" doled out by many successful traders. I have always been told that you need to learn to cut your losses short and let your winners ride.
Traders holding onto losing positions for long periods of time are no longer traders - they are investors.Ignored
DislikedWow,
I'm fairly green, I didn't think people held that long on the Forex......
I've been trying to figure out a way to trade "faster" to scalp a few pips here and there...Ignored
DislikedThat statement is really false and mis-leading for most. Tons of situations where taking profits leads to going broke. Never quite sure why people throw around that quoteIgnored
DislikedThat statement is really false and mis-leading for most. Tons of situations where taking profits leads to going broke. Never quite sure why people throw around that quoteIgnored
DislikedHmm, I would have to disagree, it would depend on your trading style. I only average about +7 per trade and haven't had a negative month this year so....?Ignored
Dislikedso what works for you applies across the board? This discussion has taken place before, like so many other things around these parts. But taking profits on the assumption that you will never go broke by taking profits, is just not true.
Please understand by no means am I saying how you trade is wrong if you follow this motto. But making a statement as generic like this can be misleading for many, especially the new ones.
Take care,
MikeIgnored
DislikedOk, now I understand the foundation of your remarks... point taken... I thought your attitude about "statement" was as generic as the "statement" itself... See, communication can be a very good thing...Ignored