When to close forex trading positions ?
When to close forex trading positions? The most of the times I close open positions around London close.I sleep better at nights.
Rarely as yesterday I had open position during the Tokyo session.
In these cases I close them few minutes before Frankfurt opens.Reversals and stop hunting will follow I don’t want to be in.
Yesterday trading was difficult for the three pairs I watch.
GBPUSD produced a nice signal with over 150 pips move south but with no retracement.
EURJPY produced a long signal with retracement but took in demo only.
Finally GBPJPY was ranging all day and since I was waiting for a breakout a took the retracement of a short signal which generated in DOW open.
Trade went bad and lost 25 pips. Left the charts open and found a pivotal point, a third touch in the upper area of the gbpjpy range and took an intraday trade with stable stop approx 20.30 EST European time.
This trade was left open during Tokyo session and produced 48 pips.
We made 23 net pips for 15 of September and closed it 20 minutes before Frankfurt open.
The three pairs we watch every day with remarks and trades