Traders Must Be Cautious!

Discussion in 'General Trading Discussion' started by TraderAnalyst, Nov 7, 2019 at 9:01 AM.

  1. TraderAnalyst

    TraderAnalyst Senior Investor

    Joined:
    Apr 2019
    Posts:
    88
    Likes Received:
    0
    Traders are no longer in easier going trading platform. All things have changed and for this reason, traders must be watchful at the prior level before making employment of their capital in various trades. As forex is run on 24/5 basis, a trader can face sudden changes in prices and thereby he should take sufficient precautionary steps to minimize his trading risks and protect his position against unwanted price movements.
     
  2. J_C_Anderson

    J_C_Anderson Senior Investor

    Joined:
    Aug 2018
    Posts:
    112
    Likes Received:
    2
    Exactly! That is why so many traders prefer intraday trading - the trading style prescribing that all positions should be closed till the end of the day (since there is no end of the trading session in general meaning, the trader shall close the position when he finishes trading for this particular day). This approach allows traders to avoid the exposure of their accounts to the risk associated with leaving the opened position overnight.
    Some other traders always close all their positions at Friday evening because most of the huge news-based gaps occur after the weekends.
     

Share This Page