If you want to engage in trading or become more activley in trading, you must know that there are many different candles: 5 minute, 15 minute, 30 minute, 1 hour, 4 hour, 1 day. With different candles, you will have different possibly safe period between your entry and exit. If you use a chart with 5-minute candle, you can not let your trading position opens for too long time as same as with a trading position for 1 day chart.

Answers are different and depend on which candles are used for your trading. You can enter and exit the market by trading after 15 minute, 30 minute or only 1 to 4 hour. You don't need to wait 24 hours to close a trading position opens at beginning of a day.