Let's say we already have everything when we open a trade, we already have a stop loss order, target price order or initial take profit price order, etc.
My question is do you consider closing your trade if those orders didn't trigger for some time?
Because for example, the trade you opened becomes sideways or stable, and no pumps or dumps happened that triggered your orders, so for some time, your trade is still open.
So, do you have a limit for your trades? Like 1 day, week, etc? If nothing happens, are you closing those trades manually?
Yes especially if it goes sideways on a big timeframe 4hrs minimum. When sideways happen there's a chance that it could possibly disrupt the technical analysis you are using as a guide but yeah it depends, Sometimes you just need to reposition or change plans like putting the fund allocated for that trade to other positions since you don't want to be stagnant in a position that give you slower result than you are expecting.