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Thread: Position management, managing stoploss and knowing when to exist a trade

  1. #1
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    Position management, managing stoploss and knowing when to exist a trade

    I have been doing trades on the demo account for some time now. That way, have learned few things which is how one could manage their position and protect their account balance.

    There is the picture of my EURUSD trade, clearly, I took that trade after the trend line support breakout on the daily chart which is my favorite chart. Initially my stoplos was placed about the open price of the candle that did the breakout.

    The market has moved down for some few candle sticks. As I am not sure of the market, in this case to have my money protected and manage my position till it gets to the target which is 1:5 R/R. I have moved my stoploss to break even. Also I took another position when the 1.0803 support level got broken and I will soon move my stoloss to break even too.

    Attachment 13066

    Question.

    Do I know where the market will get to and reverse?

    My answer is NO.

    I will simply wait for my first trade to get to it's target and it's either I close it or I wait for it to be triggered, then I will also wait for the second position. No one knows where the market would go.

    Here is also a picture of USDJPY and I did the same thing here.

    Attachment 13067

    This is the way I generally manage my position.

    NB: This is my demo practice and this is the way I intend doing it on real account.

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  2. #41
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    Quote Originally Posted by shivanandfx View Post
    Learning prepares us to be able to trade and earn good profits with less risk. If we could only do it well by starting in acquiring lots and lots of knowledge about the pair we want to trade and its market then we could earn profits that we aimed that could somehow change our lives for better if we could earn it consistently.
    yes, the learning of traders will prepare traders to know what is to be done while they do their trading. the learning is not a bad thing so traders have to do this to know what to be doing in the forex business. i have seen that learning can make traders do the right.

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  3. #42
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    We would always want to open trades when trading but then the most important thing we should be needing to get done is how to manage our position, thus to make it reach our target, therefore I must say this is one of the most hard thing trader has to get used to but then with experience they can actually get to know how to manage their trades, thus experience is really important in this aspect.

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  4. #43
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    Quote Originally Posted by splash View Post
    We would always want to open trades when trading but then the most important thing we should be needing to get done is how to manage our position, thus to make it reach our target, therefore I must say this is one of the most hard thing trader has to get used to but then with experience they can actually get to know how to manage their trades, thus experience is really important in this aspect.
    that is bad when traders have the mind to always wnat to open trades, that will be affecting the trader when they can not control themselves with this act. traders will be watching carefully and check if everything is alright before they open the trade.

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  5. #44
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    Quote Originally Posted by silverlady View Post
    that is bad when traders have the mind to always wnat to open trades, that will be affecting the trader when they can not control themselves with this act. traders will be watching carefully and check if everything is alright before they open the trade.
    [lang=id]it is the mirror if they can not control the emotion, not all the time we need to open position, trader needs to know the right time to enter and exit from the market, so they have to analyze and wait for the right moments, and it will give them a nice place in this business with minimize the risk and maximize themselves for eanring[/lang]

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  6. #45
    Trader lawners1791's Avatar
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    the limit on risks to work with the order as those had with the supports on notice as trader manages of the early stages on inauguration, helps with the better concentration as referring with the stronger on position as measuring movesment of market volatility with the monitoring of chart on moderation.

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  7. #46
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    How you stand with your stop loss is really important and we are all told that we are working and proving that we are able to rule the right working principles that we are ruling and doing the right working principles that traders that work and we are all known to understand we are awell valued

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  8. #47
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    Quote Originally Posted by silverlady View Post
    that is bad when traders have the mind to always wnat to open trades, that will be affecting the trader when they can not control themselves with this act. traders will be watching carefully and check if everything is alright before they open the trade.
    That is what the newbie traders do always have in mind and that is the reason why they keep on losing, since they have in mind of making money from the business thus they think the ultimate way to get that do is by opening so much position at all times and that is not the right way as it would keep on learning to loss.

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  9. #48
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    Quote Originally Posted by samprazaan View Post
    [lang=id]it is the mirror if they can not control the emotion, not all the time we need to open position, trader needs to know the right time to enter and exit from the market, so they have to analyze and wait for the right moments, and it will give them a nice place in this business with minimize the risk and maximize themselves for eanring[/lang]
    In Forex we know when it is good to open a trade through our analysis. And of course we should have emotional control even while we use our knowledge and experience to earn money with Forex. Because if we trade emotionally then our logical thinking can be disturbed and we may take wrong decisions. Like under the influence of emotions we may risk all the money in the account in one trade which is definitely never good.

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  10. #49
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    Quote Originally Posted by PROPENSITY100 View Post
    In Forex we know when it is good to open a trade through our analysis. And of course we should have emotional control even while we use our knowledge and experience to earn money with Forex. Because if we trade emotionally then our logical thinking can be disturbed and we may take wrong decisions. Like under the influence of emotions we may risk all the money in the account in one trade which is definitely never good.
    Yes, it is about knowing your own personal trading system, that would always be suggesting to you what you have to do at any point in time. This is a very simple thing, it all depends on the way traders can trade, manage their trade and even manage themselves in terms of the trading psychology and other things in the market.

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  11. #50
    Trader lawners1791's Avatar
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    to exit with the correct on level of price as trader works of the good occupation on running of system with the analytics to gives of conclusion with the highest on precision and collects of return with the good chance on compounding further within the complete of length with the trading terms.

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