The biggest problem for forex traders is lack of time. The problem for FX part-time traders is what kind of trade to do. What would your ideal trading style look like?
forex trading style
For FX trading style, it is important to choose between day trading and swing trading. In addition to this, there is scalping, but in the case of scalping, you have to watch the chart in real time all the time, so I think the following two will be the main ones.
As the name suggests, day trading is completed within the same day after entry. For this reason, short positions are the main strategy, and it is a strategy that is easy to adopt for those who look at charts to some extent, but there is a disadvantage that part-time traders do not have time to look at charts. In the case of part-time traders, the main fighting method is to take a short position after work and settle within a few hours.
Swing trades hold positions for several days to several months, so long-term holding is a prerequisite, and it is also a prerequisite for crossing the day. Swing trading has the disadvantage of reducing the number of trades, but the advantage is that you can earn a large amount of money if you earn well. It is said that this strategy is very suitable for part-time traders. The reason is that the frequency of looking at charts decreases.
Trading style of FX part-time trader
There is a lot of debate about whether day trading or swing trading is the trading style of forex traders, but in conclusion, both should be adopted. Ideally, it would be ideal to have one position for the long term and one for the short term. If you do both, you will be able to grasp the trading rhythm and maintain a reasonably high trading frequency.
For day trading
Day trading should be done after work or between work. If day trading is done by part-time traders, it is necessary to settle in a few minutes to a few hours, but it is quite possible to squeeze out time every day if you fight like that. Of course, it is necessary to monitor the chart, but it has the advantage of keeping the number of trades moderate, so it will be easy to grasp the rhythm.
For swing trading
Swing trading is of course recommended for part-time traders. Many part-time traders recommend swing trading, but the problem is that there are few opportunities and the trading frequency is extremely low. As a result, you run the risk of not making much money. Therefore, you can aim for profit by using not only swing but also day trading.
Estimated income to become a professional trader
As a guideline income to become a full-time trader, it should exceed the income of the current office worker. And it will be a premise that it can be sustained for several months or more. In order to become a professional trader, there is no choice but to be a total plus anyway. If possible, it will be a turning point to become an ideal full-time trader if the annual income exceeds the annual income of a salaried worker. However, professional traders do not have any guarantee of income, so accept the disadvantages of that point.
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