Many people want to know if they should keep the orders open in Forex. It takes time to get the profit but the trends can move in an unexpected direction in the meantime.

To avoid the chance of losing money, the best strategy seems to be closing orders when possible. However, there are many opinions regarding this concept as the community is divided. In this article, we are going to explain and find out a possible solution.

Remember, this does not mean this is the ultimate answer. What we are implying is based on our knowledge and perspectives. The situations can change and people are always at liberty to choose their decisions.

Trades should not behold longer

First of all, we are going to explain the most popular opinion which describes investors’ need to close orders after achieving the targets. This sounds plausible because every moment the trend changes.

It is difficult for a person to predict where the volatility will go in the future. As soon as the target has been achieved, it is the smartest decision to close the order and get the money. This way investors can make a profit without thinking of losses. From this perspective, the best thing to do is immediately close the orders.

However, the professionals are divided on this aspect. Many believe it is for short-term investors. In long-term methods, it is important to let the market move in the expected direction which takes time. Most people think in common ways and decide to close orders to avoid losses. It is a sound method considering the changes taking place every moment on the chart.

Waiting is required in Forex

For many traders, closing order is not a sound deal. They like to hold onto their positions as long as they can. It is right because the market moves in the desired detection in the future.

The question is how long do investors have to wait? There is no definite time and a backup plan is suggested. From this aspect, people might feel they need to keep trades open. We are not trying to make a decision but only explaining the possibilities. Before you decide anything, remember every choice has few drawbacks. It is up to the community to use their knowledge and skill to make money.

Without having strong patience in the retail trading industry, you can never take your trades in a systematic way. Visit the home.saxo and learn more about the conservative approach. Stop taking reckless decision as it will force you to make silly mistakes and eventually it will cost your investment. Learn about the advanced risk management technique and trade this market with long term goals to protect your trading account. This will definitely allow you to do better in trading business.

What should I do?

Probably it is best to leave to the situations. The market is unpredictable and there is no way to find out the volatility. We can only predict but the result is not easy to guess. With the help of indicators, it is best to analyze the present situations. If the volatility seems fine, you can take a chance at keeping the trades open for a long time.

An important note is not to get overconfident. Many have lost money because they became overconfident with their performances. At one point, they were not looking at the charts but simply making random guesses. Always analyze before making decisions in Forex. This is an important task for you.

If the volatility is not suitable but an order is opened already, don’t try to prolong the risks. wait for the moment when the balance gets positive and immediately close the trade. It does not matter if you cannot achieve the goals but it’s better than losing money. Goals are set for reasons but try to be flexible depending on the situation.

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