Post
Topic
Board Trading Discussion
Re: What factors do you consider when opening a trade position?
by
Silberman
on 08/11/2024, 15:51:21 UTC
I've seen quite a lot of guides out there that literally sounds like fiction when getting down to the real deal.

Some referencing a long list of "to-dos" and "not to-dos" which are practically impossible. Other shares varieties of market indicators to monitor; mostly not doable too.

There's practically one that intrigues me - "stick to what works for you".

...
The main problem is always the time needed to take the decision, if you are trading the 1, 5 or 15 minutes charts you only have seconds to take a decision, so it is obvious you are not going to be able to consider a long list of factors when opening a position, as you cannot think fast enough, however if you trade the 24 hours chart you will have minutes to consider your decision and in that case the number of factors that you will need to take into account before opening a position will need to increase considerably.