Holding positions

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Forum transfer: Submitted by darkside on June 16, 2007 - 19:38.

I am interested in finding out how long do professionals stay in a position once it becomes profitable? If a position turns against us, it should be easy - it hits a stop we get out. But, what do you do if it goes our way?

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Forum transfer: Submitted by Forex trader on June 17, 2007 - 09:31.

Hi, darkside. Although I'm not a professional )), I use daily Pivot points. They tell me if I have a good chance to survive and profit for the day as well as where I can move my stop next to protect my profits. Next day (I trade daily) I have new pivots and so on.

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Forum transfer: Submitted by Ted on June 17, 2007 - 17:12.

Yeah, "to exit or to stay... or to exit... or may be to wait... ohhh" - the nightmare of mine. So far i haven't figured a million winner solution... so i stick to a simple trend line and move my stop alongside it. Once it's hit i'm out.
Does anyone here has a better method?

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Forum transfer: Submitted by Skyfx on June 18, 2007 - 18:01.

no.

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Forum transfer: Submitted by Submarin on June 19, 2007 - 17:39.

This strategy may answer your question:
http://forex-strategies-revealed.com/tr ... simplicity
Trade and enjoy your profits as they grow

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Forum transfer: Submitted by auxtov on September 15, 2007 - 13:35.

this is every traders dilemna - the twin emotional demons of fear and greed. I have suffered terribly, i have made 180pips and lost it all because I stayed too long. Here is my advice, when your smile that you are making money, is your time to get out because your emotions become unstable and reason is pushed aside. you smile point is your exit point

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Forum transfer: Submitted by Smiling trader on September 19, 2007 - 12:37.

)) last comment rocks! Smiling trader is a signal to get out

Not only you become emotionally instable you tend to celebrate before the trade is over... No wonder that when your celebration is canceled you are stressed...
Ask yourself: do you like what you gained so far?
If "yes" - time to exit.
If "yes, but what if I could make more" - you are greedy, you can either work on your greed or you'll never become a winner.
And lastly "no" - means you weren't telling the truth OR you really know what you do, and this is only if you've studied the charts in and out, found all supports and resistances and fibonacci and pivots and trendlines and fundamentals, and you are SURE these data gives you a green light to stay in the trade.
Smiling trader

[User]

Forum transfer: Submitted by Rich on September 22, 2007 - 20:07.

If a trade happen to be quickly moving in your favor after you got in, it is a good sign and a very high chance that it will progress further in your direction. As a rule strong market moves do not retrace sharply, because they are geared by a strong buying/selling aggression and pressure.

Some exceptions occur when a market move is based on news releases. Then quite often you would have a fast retracement... What to do? Know when an economic data are due and be prepared to secure your high profits before they vanish.

Rich