You have already reported this answer.
Resolved Question
Do traders stare at the screen and wait for an opportunity to arise in order to place an order?
It is best to trade when the market is volatile. However at times, there is little price movement. Do traders monitor the charts and wait patiently for the volatility to increase before trading? Or do traders check the chart near the timings of forex news release?
over 2 years ago
Best Answer - Chosen by Voters
Not all traders sit in front of their computer screens, waiting for a trade opportunity. Sometimes traders just set their orders and trade details (profit targets and stops) ahead and just leave them to get triggered anytime. However, if you're scalping or day trading, it might be a good idea to watch the price action while trading.
over 2 years ago
Answers (3)
It really depends on your style of trading. Some traders take longer term trades, setting wider stop loss and take profit points, which allows them to leave their computers. Other traders are scalp traders, and try to take 5 pips at a time, so they probably don't leave their computers.
In any case, it really depends on your strategy. You could set limit orders and leave your computer, shoot some hoops, go to the driving range, play some ps3. Just be aware of potential economic data that is going to be released and to always set a stop loss.
over 2 years ago
* You must be logged in to add comments. Sign In or Join Askpips.com.
Not all traders monitor the market's price action. But if you're a noob, I think it is good if you do so for awhile even without trading for you to get a 'feel' on the market and how it reacts to certain price levels and news.
over 2 years ago
* You must be logged in to add comments. Sign In or Join Askpips.com.
Not all traders stare at the screen all day but they know the market and they know the currency they work. They see the indicators, the pivot, the sopport, the resistances and the trend and program their trades (take profit, stop loss, etc.) But yes many traders stare at the screen in order to take an opportunity but is depending in the type of traders they are.
over 2 years ago
Source(s):
* You must be logged in to add comments. Sign In or Join Askpips.com.
Resolved Questions in Beginner
- Should I go live? Please give me your advice on this.
- For a newbie, which currency pair do you think is the best to start with?
- Which do you think is better? Daytrading or Position Trading?
- For a newbie like me, is $1000 a good starting deposit in forex?
- I work full time and I'm wondering if signal providers really work. Has anybody had any experience with them?
* You must be logged in to add comments. Sign In or Join Askpips.com.