How long do you hold your position..? | Page 2 | Forex Factory

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How long do you hold your position..?

  • #21
  • May 14, 2007 12:21pm May 14, 2007 12:21pm
Until stops or Take Profit is hit!!
  • #22
  • May 14, 2007 8:35pm May 14, 2007 8:35pm
Quoting Bytebodger
I 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.
thank you for your concern, the question is about how long the position is hold, i do think every system has it edge, and even silly one can become awesome in the right hand. now it is our job to put the right system in the right place .

ps: the only principal that i hold dearly is to keep margin lv high ( +2000 ).
  • #23
  • May 14, 2007 8:59pm May 14, 2007 8:59pm
Quoting dberube
Wow,

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...
LOL, you didn't think that people hold trades that long in forex Most of my trades last more than 2 weeks and usually less than 2 months.


Thanks,

Nader
  • #24
  • May 14, 2007 10:37pm May 14, 2007 10:37pm
A profitable trade will likely be in for a few weeks. I do however trade five minute charts when I see a good set up and these are usually on for less than one market session ( 8 hours) and are closed before I go to bed.
  • #25
  • May 15, 2007 6:49pm May 15, 2007 6:49pm

couple of weeks to months

  • #26
  • May 15, 2007 7:15pm May 15, 2007 7:15pm
Quoting dberube
How long do you usually hold onto your positions for?

Generally speaking.

David
You can use the ATR of the time frame that you entered from. The common formula is (time frame ATR x 3 = target price)... and remember "you can't go broke taking profits"....
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  • #27
  • May 15, 2007 7:32pm May 15, 2007 7:32pm
Quoting riffster
and remember "you can't go broke taking profits"....
That 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 quote
  • #28
  • May 15, 2007 8:03pm May 15, 2007 8:03pm
Quoting mbqb11
That 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 quote
cause we feel secure with profits in an unpredictable market. It's just human nature...
  • #29
  • May 15, 2007 9:36pm May 15, 2007 9:36pm
Quoting mbqb11
That 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 quote
Hmm, 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....?
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  • #30
  • May 15, 2007 9:40pm May 15, 2007 9:40pm
Quoting riffster
Hmm, 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....?
so 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,
Mike
  • #31
  • May 15, 2007 9:48pm May 15, 2007 9:48pm
Quoting mbqb11
so 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,
Mike
Ok, now I understand the foundation of your remarks... point taken... I thought your attitude about my "statement" was as generic as the "statement" itself... See, communication can be a very good thing...
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  • #32
  • May 15, 2007 9:50pm May 15, 2007 9:50pm
Quoting riffster
Ok, 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...

:

just to answer the original thread

seconds to months
  • #33
  • Last Post: May 15, 2007 11:35pm May 15, 2007 11:35pm
Quoting dberube
How long do you usually hold onto your positions for?
David
Until I am humled by the market. ie. proven wrong.
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