What do you do while waiting to exit a trade

[Daisy]

What do you do while waiting to exit a trade? I usually file my fingernails or read some news on a separate smaller tabs. I sip on some coffee. I do text my friends? I play on my phone. What do you do to allow time to pass while you wait on your trade?

 

[syai77]

I never done like you have done guys...
All time, i see my chart and always focus for gaining the market....

 

[gkintl]

I would never deviate when I trade in the forex market. Once I enter a trade, I would constantly monitor the price movements. It would assist me as a beginner to understand minor supports and resistances quite easily. This allows me to avoid entering at extreme ends of price. Even though, it is no way related to the current trade, still I make it a point to note down those subtle nuances of price movements.

 

[Daisy]

But there are time when the price takes like an hour to move up like five pips so in that kind of situation, I have to do other things and I can literally go to my kitchen, grab a cup of coffee and then come back and the price is still there and have not moved. I've been in some trades where it takes the entire day to see any kind of movement but I was doing it for the long term, so sometimes on some day it would take forever for the price to move to a much higher level.

 

[tray]

And that is always the right thing to do a good trader must ensure that he work with patience I have to look for further carried and see what will really happen to the trade for real and that is just the right thing for any trader

 

[Daisy]

I had one incident where I slept on my trade, woke up the next morning and see negative swap and then the price dropped like almost 70% below what I bought so sometimes sleeping on your trade could be bad so now I only do intra- day so at least I can sell it anytime since in bad news week, the price could drop so low that you will lose or might have to wait for a few more days for it to get back up and then earn negative swap too.

 

[budado]

I do put sl and tp so I really don't need to monitor a position that I open. its either its going to get SL or its going to get TP nothing more and nothing less. I do hope I can eventually end up making good income in forex trading soon. My main goal is just to earn 10% profit each month.

 

[Pettyeve]

I hardly move my eyes off those monitors No matter what is at stake. That is the major reason I like trading in a cool and serene atmosphere devoid of disturbances and distraction. This helps me get over certain side attractions except listening to my small cool music.

 

[Daisy]

I do put sl and tp so I really don't need to monitor a position that I open. its either its going to get SL or its going to get TP nothing more and nothing less. I do hope I can eventually end up making good income in forex trading soon. My main goal is just to earn 10% profit each month.

I can set sl but not tp. I mean I really do not like to set trades in advance or when I can't see it in front of my screen. I just think I will exit too early and lose out or lose out due to setting tp too high so tp is something I never set. I rarely ever trade if I can't look at the charts myself. It gives me more control so waiting in the dark is so hard for me to do but I think not setting it make me gain more profit.

 

[Decub]

Same here, since I find it difficult most times setting my SL, I do not lose concentration on the computer monitor while I wait. I have heard stories of some traders across forums trying to strengthen up as they wait and eventually encounter varying losses. Besides, it wouldn't cost me anything staying for those few minutes than imagine what I might lose if I have a dip.

 

[thanhvi410]

conventional in such cases I usually play games or watching video, or playing chess. There are some other cases I can not do any work and just focus and track on the price fluctuations because I am waiting for prices to return to breakeven to exit the market

 

[Daisy]

Sometimes I wait for as long as eight hours to exit a trade so there is a lot of time in between so I open up my pad and then watch movies. I do a lot of watching and reading on my pad so I will have two open screen at the same time. I usually don't leave my screen though so I can exit if worst situation arise. I like to watch to see where its going even if its for the long term. You will be surprise sometimes when you leave your screen.

 

[jackcm]

I am trying my best not to do thing like you. I think it is like we are not so confident with our plan and we're too afraid of losing and in my opinion, it is not good for us.

 

[budado]

Since I use TP I really don't need to do anything. I just try to do another analysis hoping that this time around I can make something good out of myself in here. I'm sure I will be making good income once I know how to trade. For me forex trading is really the best way to handle my account without any problem.

 

[Pettyeve]

Sometimes I wait for as long as eight hours to exit a trade so there is a lot of time in between so I open up my pad and then watch movies. I do a lot of watching and reading on my pad so I will have two open screen at the same time. I usually don't leave my screen though so I can exit if worst situation arise. I like to watch to see where its going even if its for the long term. You will be surprise sometimes when you leave your screen.

That is a long wait and you must have been having some issues, sitting for so long unless you trade on the go-mobile. Setting your risk management tools can help you prevent such boredom from the way it sounds to me.

 

[willy]

oh this is fine question some times i am eating something or drink a cup of tea or just listening to my best music while i am waiting my trade to exit but most of my trades depending on the pending orders therefore i am just putting my pending orders and go to sleep or do anything else

 

[gkintl]

Same here, since I find it difficult most times setting my SL, I do not lose concentration on the computer monitor while I wait. I have heard stories of some traders across forums trying to strengthen up as they wait and eventually encounter varying losses. Besides, it wouldn't cost me anything staying for those few minutes than imagine what I might lose if I have a dip.

It is always better to stay in front of our system after we enter into a trade. There are times when price may come very close to our target but do not achieve the same. It may take several hours, in such a scenario, for the the price to attain our target. If we are near to the system we can close and look for better opportunities. Trailing stop loss, of course, can be used in case we are running into reasonable amount of profit. If not, it is better to avoid the same as well.

 

[Tim Rice]

I try to keep an eye on the markets. If things look like they are turning against me I will exit early

 

[kasual]

Many activities we can do while we are monitoring trades or waiting our target being hit. Such as reading book, listening music, watch TV, movies and even doing activities which make additional income. Such as posting in forex forums.

 

[sindarin]

I do put sl and tp so I really don't need to monitor a position that I open. its either its going to get SL or its going to get TP nothing more and nothing less. I do hope I can eventually end up making good income in forex trading soon. My main goal is just to earn 10% profit each month.

Yes, i think this way is the best way because i also do the same thing, i only looking for the first time to put SL and TP usually around 1 minutes to 15 minutes only, after i put SL and TP as usual i just leave my position.