Quote from: mindrust on Today at 06:05:42 PM

Quote from: GreatArkansas on October 11, 2022, 02:40:37 AM

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?

Obviously, everybody is dead on a long enough time line.

Nobody can afford to wait forever.

If you are waiting for a certain price and you are cool with waiting more than a year, then it don't make much sense to keep your coins on an exchange. You can certainly keep your coins in your cold wallet and wait there for your price target, send coins and execute.

Keeping coins on the exchange for long periods of time has its own risks. I don't recommend it.

It depends on the target goal of a trader. There are traders who don't have a time limit and could handle the long wait while there are others that are impatient and don't want to spend their time waiting. Things will depend on the coin that we're trading. There are coins that won't ask us to wait for a long time while there are also coins that are profitable in the long run so we should consider the capability of our coin in the first place.