For someone who has a short time like you said, then you should be a swing trader. This will allow you use higher time frames because you cant be monitoring trades.
What Forex Trading Strategies Are Most Suitable For Part Time Traders
- Thread starter Suba
- Start date
Trading forex part-time is not very ideal.
However, if you are trading part-time, you should be aware of the stop loss tool and use it to your advantage.
It would help prevent unnecessary losses.
So people can actually trade on forex on part time basis?
How often do they make profits then?
I think such people will have to understand the market very well and ensure their chances of losing out are reduced.
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Experts on Forex trading, will always advise part time traders and beginners to take trading courses, if they have tutors better for them their tutors can always trade with them any time any day and buy so doing part time traders will graduate and then start trading all the time.
Well I'd have advised that you be a swing trader or scalp trade (that's a crpytocurrency term that involves you take profits by the minute or in shirt periods), but it's better you set up trades that can allow you set your stop loss and take profits positions or you use robots.
I am not into forex trading so I don't really know if part time trading is really good, base on my experience I think it is good to trade full time, so to understand is very much.
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trading in the forex market needs you to be very active and follow the market closely in order to maximise profit. Becoming a part-time trader may have some kind of limitations and consequences but you can still make profit. I think copy trading is one of the best strategies for part-time traders.
In my opinion, you should be using stop loss order as a part time trader. Forex trading alot of analysis and this analysis need to be learned. As a part time trader, you may not have time for analysis. So that's why I say stop loss order is very important for part time trader.
I beleive that swing trading strategy can be the best for part time traders you also need to consult some of the professional traders to ensure that you trade with good and excellent strategy
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One of the strategy that i am most conversant with,is the one of stop loss strategy,because it is a form of conservative style of trading for me,as it will not allow me to get into some major loss.
I think scalping strategy will mostly work since you are interested to get a quick profit within a short period of time. This is what so many people are using to trade the markets when they do not have time to engage in swing trade.
One of the strategy that i am most conversant with,is the one of stop loss strategy,because it is a form of conservative style of trading for me,as it will not allow me to get into some major loss.
Well as for my trading personally i have not really tried the strategy of scalping,though i have been making use of the stop loss method,maybe i will try that method and see how it goes.
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The fact is that forex trading should work well for part time trading because it requires a lot of time to be invest on it . However the person needs a mentor that will be keeping him updated with market events
Stop loss is not actually a strategy , it is one of the features that is being used in so many exchanges and brokers to prevent traders from losing a huge sum of money as they can easily set their stop loss and take profit order.
As a part-time trader you might want to consider position and swing trading strategies as they don't require much of your time in charts.
They are very rewarding if learnt appropriately
They are very rewarding if learnt appropriately
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If you are looking at trading assets and you want to be doing it over the long-term then you should look at cryptocurrencies where you are going to be hunting for low cap gems.
You should be looking for investing into high-conviction place where you are going to be using a larger margins with a very small leverage so that you can be able to pull out an invalidation.
Scalping strategy is what so many traders are using most especially the day traders. You should know when to exit the market and when to enter. That's very important for every traders
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Some of the newly upcoming ones may not be trusted . it is some how risky as most cryptocurrency could rugpull. It is saver to invest in forex than some low market coin in cryptocurrency
Seriously now what is needed is either you are a part time trader or you are full time trader I will suggest that you try hedging or swing trading they are good ways to trade in the forex market and see good result you can also chose long term trading
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