how do you decide to open a position?

[ermaniso2011]

hi l want to ask you if how do you decide to buy or sell or to open a position?do you write down the reasons?do you really content with your decisions?do you only opening from the signals from indicators or fundamentals?

[pinoycity]

This is one good thread and I hope that senior traders with good strategies wil be open to share their knowledge. I always use my demo account to check the market, where the trend is going. I only come in when I see a trend.

[rexway]

With indicators signal i dont think is wise to make a decision to open a position...market direction should be properly studied befor this can take place.

[traderf]

I just belive in my feelings! sometimes, the analyst can only hurt and confuse, so I always listen to my instincts

[pinoycity]

I just belive in my feelings! sometimes, the analyst can only hurt and confuse, so I always listen to my instincts

 

In my initial trades, I also follow my instinct. In some trades, I managed to win significantly that it made me feel confident with my skills. But after some time, this instinct made me lose more, almost all the money in my account. I think, better to be prepared with a strategy.

[rexway]

Well analysing trade first with demo account befor risky your hard earn money is always the best way from my own point of view

[pinoycity]

Well analysing trade first with demo account befor risky your hard earn money is always the best way from my own point of view

 

Yeah, this is good. It is better to be safe than to be sorry. The only problem with this is you lose the opportunity to earn more. But then again, through patience, you will get to that point which you have targeted.

[stezz]

I just belive in my feelings! sometimes, the analyst can only hurt and confuse, so I always listen to my instincts

 

if you use this strategy ithink this more like gambling than trading

[pinoycity]

 

if you use this strategy ithink this more like gambling than trading

 

For me, we just don't know it but we trade a lot with our instincts. Even if we have a good strategy, we do not really know what will happen to the market. We have our strategy and when we trade, we like to feel that our strategy is OK.

[riddick09]

Well there were several factors and normally will depends on the different analysis. Both technical and fundamental analysis. So for sure we check it on the indicators and what is showing us and also the news we need to monitor.

[rexway]

Listening to news and event in a particular country pair that is to traded is another good way to forcast the market befor opening a trade,but for me another method which I adopt yesterday is that i will go to forex factory.com website and do some analysis then wait for a market to react after that I can then go ahead and open my position if the market reaction works in my favour

[budado]

Well there were several factors and normally will depends on the different analysis. Both technical and fundamental analysis. So for sure we check it on the indicators and what is showing us and also the news we need to monitor.

Start your day checking fundamental analsysis. read the news, economic calendars, broker sentiments, and forecast. Then do technical analysis. Check if the market behave just like what the sentiments is showing. If not then I guess you trade with caution. As its maybe a delay reaction or theirs a latest news that result for reversal of sentiments.

[adnan007]

My positions are based on the technical indicators as well as the trend of a currency pair. I also look forward to buy positions on the break of support or resistance level which is a wiser option as break of these points leads to a better trend movement of a currency pair.

[budado]

My positions are based on the technical indicators as well as the trend of a currency pair. I also look forward to buy positions on the break of support or resistance level which is a wiser option as break of these points leads to a better trend movement of a currency pair.

Why will you going to buy a position on resistance level? If you are in resistance level the best approach is to sell unless theirs breakout. Its really good if we open a position near the support or the resistance level. In this way if ever the market become volatile we have some breathing space.

[adnan007]

Why will you going to buy a position on resistance level? If you are in resistance level the best approach is to sell unless theirs breakout. Its really good if we open a position near the support or the resistance level. In this way if ever the market become volatile we have some breathing space.

 

For me, the safest and the best position is those when a trades takes a position only after the breech of resistance or support level. As you said you open a position before the break or either the resistance or support level, this is a risky thing to do as then we might see a retracement at those levels or even reversal of a trend in a few cases, however most of the times, the resistance of support level get broken...

[flybiz08]

First is to spot a potential trading set up. The next thing to do is to confirm with your system that it is tradable and then wait for a confirmation. Before this, you should take a look around if there's any important economic situation you think might affect the markets. Once a confirmation to buy or sell is give, the trade is taken.

[Tariq777]

I don't think more than twice on one thing, when I'm concerned on opening an order i just do it, no matter what happens next! just kidding I always analyse first

[luckyvoy]

I look at chart to find the range it is trading in, and wait to find the prices near lower bound to open long position, or a break out confirmation upward to open long trade.

[euro]

You either enter at the lowest price to buy low and then sell high or you scalp. So when you get a signal to buy or when you spot a trend to scalp and you think you can make good money from it then go ahead and then scalp it. So you can make some money from scalping as well. There are opp to scalp as well. Either way you can enter when there is an attractive price that will help you make money on the market but just don't enter when its too high since you might not make as much money from it. 

[davils9]

Forex is a most important business for the man and woman. One man can make money from this market if he want and it is a best opportunity for the every man and woman. But now a days students are most here.

[pepy]

When i want to open a position, i will look at the news result first, is that really good or above the expectations or even below of the expectations of all traders, usually this will be affect the sentiment of the market greatly and of course i will open position to buy if the result is good and sell if the result is bad.

[davils9]

I think forex trading is most important business and it is a legal business. There are no any business like it and man can not make money more and more like it. So it ia a important business.

[davils9]

I like forex business so much and I want to be a successful trader. When My study will be end I will start my forex business and it will be success of my life and I will be rich soon.

[euro]

I think if you see a trend that you can scalp then you open a position. If you don't see anything then you don't open it. I think you open a position when you think you can make some money from it. I think forex gives us a lot of scalping opp as well in the day. However forex can be risky so we have to ensure that we can get a profit or else we should not enter at all. Its horrible to enter and then have to exit right away. 

[screw_twizz]

Very well there have been many components along with normally may is dependent upon the several research. Equally complex along with fundamental research. Thus definitely all of us check this about the signals along with what is demonstrating you as well as announcement we must keep an eye on.