If you have performed or carried out your trades with placing stop loss and take profits then YES you need to watch your open trades constantly so that you do not go to loss and if both the tools are in place then you do not need to bother about anything.
If our analysis is not good and the trade is wrong or bad and if stop loss is in place it will also close the trade automatically and we need not monitor our trades.It is only when there is no stop loss in place monitorin
It's no need to worry when there is open position because there is risk management strategy to limit losses in one transaction.
I think you could use Stop Loss or hedging strategy to limit loss and to reduce losses in one transaction. But it's important to keep
on watching our open position if it was possible.
Yes of course it is very important for us to see our open position when we are trading seriously in forex market because we can,t judge the market trend for long term so it is very important for us to see our open trades but we if we use stop loss facility then it is no need to see our open trades.
There is no guarantee if we keep on monitoring our open position so it will prevent losses in forex because if we made mistakes
to open position so we could only reduce the possibility of getting more losses but we couldn't avoid losses. So it's better to set
SL point to prevent big losses than we keep on monitoring to avoid losses.
we leave open trading away without using a stop loss is a huge risk and a mistake that should not be done, make it a habit to use stop losses before leaving our trading monitor.
aapne bilkuk thik kaha.position kholne ke bad usse baar baar dekhna aur track karne se aapka bahut time waste hoga .. isse acha agar aap take profit ka use kare aur apni position ko lock karke trading kare to aapke liye zada fayda ho sakta hai kyunki deal ko lock karne se aapka profi aur loss fix ho jata hai
i thunk the traders who do scalping for them it is very important to watch their open positions so that they make sure that they dont suffer any loss. but for long term trading there is no need of watching our position all the time
I also don't watch my open positions all the time, because it will create more pressure, tension, Because this is so bad for every trader it makes bad condition.
yes,it is better to keep watch your position after active.but i am going to relax and before leaving i will place take profit and if possible then stop loss.then will go to relax.it is useful for our health and trading in forex.