When to exit the current trade position? - Page 51
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Thread: When to exit the current trade position?

  1. #1
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    When to exit the current trade position?

    [lang=id]We will always think that "if we didn't close it then we will absolutely make a large deal of money in here."
    But sometimes we will just think like "if we didn't close the deal yesterday then i would have already lost quite a lot of money now."
    So what exactly is the right one in here actualy?
    Here it is!

    1. Make sure that our target already reached

    Just in case that any worst scenario happened in this business, we need to be satisfied only with the current profit we got anyway. If we just want to make unlimited profit then we will pay the price when we loss it quite big. SO if we reach the target better close it.

    2. Make a lot of research if we want to hold position

    Let's say that we are i losing position but we are very reluctant to close our own position in here, then we need to make a research first whether the current price is dangerous or not. Once we have deducted that current condition is bad, then we better close the loss before we loss even more in te end.[/lang]

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  2. #501
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    Predict the market after having proper understanding, knowledge and experience and never set the big profit target as forex is risky and tough business, I think we should close our current position after having small but reasonable profit, never expect huge profit from this business which is not possible.

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  3. #502
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    When we open a trading position we should also evaluate the exit point by doing market analysis, TP and SL should be set in every open position because if we not set these levels than if the price get to our desire point than sometime we may feel greedy and keep the position open for long time and at last we may loss our whole money if the price goes in reverse direction.

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  4. #503
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    Quote Originally Posted by FXGainer View Post
    When we open a trading position we should also evaluate the exit point by doing market analysis, TP and SL should be set in every open position because if we not set these levels than if the price get to our desire point than sometime we may feel greedy and keep the position open for long time and at l bast we may loss our whole money if the price goes in reverse direction.
    right. we need to calculate everything with very well because the risk is taken here that will give us results. set SL and TP become a part of managements but we need to set them is based on market situation or resl time and not as static setting
    so here is about the skill function to analyze the market and make decidion

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  5. #504
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    I think two things are very important then you will exit the order in the trading one is that it will hit the target that you want to achieve or you think that the market is not go that position then you will exit the market secondly if it goes continue loss and you will not afford the loss and think that it will not come back then i think to exit the order is right thing because it is just wast the time and energy in the trading.

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  6. #505
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    As far as my concern, I always close my current position after making profit, if i get the loss then I keep continue my trade and put another order from my loss bottom and when market comes in my favour I recover my loss and close my all position after reaching in profit.

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  7. #506
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    Quote Originally Posted by Nova View Post
    As far as my concern, I always close my current position after making profit, if i get the loss then I keep continue my trade and put another order from my loss bottom and when market comes in my favour I recover my loss and close my all position after reaching in profit.
    It's more possible to hold a losing trade for long than a trade in profit because of tension, tension is one of the things we need to deal with if we want to succeed trading in the forex market or make big money, we can't trade and make a reasonable profit when we are always afraid of losing back the profit that we have earn, there is no need for us to rush in taking profit, we can leave our trades for long until it hit take profit.

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  8. #507
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    Quote Originally Posted by davido View Post
    It's more possible to hold a losing trade for long than a trade in profit because of tension, tension is one of the things we need to deal with if we want to succeed trading in the forex market or make big money, we can't trade and make a reasonable profit when we are always afraid of losing back the profit that we have earn, there is no need for us to rush in taking profit, we can leave our trades for long until it hit take profit.
    Actually we should set our profit target and at what loss we should close the trade, when we open the trade itself. Everyday i wake up and open my computer for see the market condition. I trade in here for 2 or 3 hours in a day.so i just analyze the market and open a trade with 20 or 30 pips take profit target and 10 to 20 pips stop loss.

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  9. #508
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    I think as a trader one should know when to exit his or her trade, mostly when the target has been reached. Trading is a risky business and only those who have understand on how it works can earn from it. There is no fast way to making money in forex trading, one just have to learn and through the trading experience.

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  10. #509
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    as a trader, i think that is our full responsibility to be able to know how to trade this business well to the extent of knowing when and how to leave this business and also at the appropriate time, to that effect you should try to trade this business with some level of understanding and nice sense of mind. trade wisely because that is the main thing needed here.

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  11. #510
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    Quote Originally Posted by chioma View Post
    as a trader, i think that is our full responsibility to be able to know how to trade this business well to the extent of knowing when and how to leave this business and also at the appropriate time, to that effect you should try to trade this business with some level of understanding and nice sense of mind. trade wisely because that is the main thing needed here.
    That will truly depend on how one has learned and understand his or her trading strategy, it is important to put in more time and learn on how to trade whereas being able to know how to make use of your trading strategy, that way it is important to have some practice been done on the demo trading account as that will give more better clue on how to get out of the market.

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