I am a trend-following trader, trading forex, indices, occasionally oil and gold, over multiple day time horizons. All my trades are opened and closed using pre-set orders off daily charts. I put in less than 30 minutes a day, plus about 2 hours at the weekend. I can assure you I am profitable.
How to choose a market and/or a product ?
- Thread starter Olscream
- Start date
I am a trend-following trader, trading forex, indices, occasionally oil and gold, over multiple day time horizons. All my trades are opened and closed using pre-set orders off daily charts. I put in less than 30 minutes a day, plus about 2 hours at the weekend. I can assure you I am profitable.
Welcome you to the world of trading. You can engage in numerous financial markets and there are various choices now: stock market, forex currency markets, bond markets and a new addition is now investment in Crypto currencies trading. I can suggest forex market since you can learn with demo trading accounts and you will be able to work with smaller investments. 30 minutes will be very small amount of investment, at least try to give 1 or 2 hours and only scalping can help you to earn good profit with smaller time and money.
The factual part of your post is good but I am stating very clearly that I put in about 30 minutes each evening looking at charts and setting orders, about 2 hours each weekend updating the watch-list and prioritising targets, and I am profitable. I never look at charts during market sessions and never open/close trades live - I don't need to.
Believable. If you stand back from the noise and run a basic simple system, this what you do us very doable. No fuss, no drama, not a lot of stress.
30 minutes a day is fine for swing, trend, or portfolio trading since your not intending to pay your bills from it. It would be beneficial if you could put in about 2 hours on the weekend. The main thing is being consistent & have a long term outlook.
You may want to check out 'Chat with Traders'. It is completely free and should give you some ideas on what you may want to trade & what technique interests you. It will also give you the core ingredients winning traders all have in common.
Best of luck to you.
%%
I clicked on a funny VW ad; the non gasoline hog VW won the race.LOL Prefer a HMC myself .
Like the old school commercial, a herd of fast jumping gazelles jump a earthquake gap, on the way to a water hole. Then a bull elephant, attempts to jump, but like a turtle he know he cant LOL Then he gets mad +snorts +knocks down a big tree+ stampedes across the tree/gap LOL. Sorry, Oscream a good trend is measure in years. An elephant can knock down a tree or run up a hill in 30 minutes=but he may over 50 years young, not 30 minutes.
You should not think that long-term trend-following trading is for pocket money. That tends to the thinking that the only meaningful income is from day-trading.
Income from long-term trend-following trading is lumpy but that's because you run the winners so you don't really want to close them to bank the gains until you really have to. But playing the game this way isn't for pin money.
You should not think that long-term trend-following trading is for pocket money.
Well your singing to the choir - I am a swing trader myself holding multiple futures, stock & forex positions up to months at a time.
I was implying that because this newbie is not trying to pay their bills from trading they could take their time through the long learning curve in front of them.
Well your singing to the choir - I am a swing trader myself holding multiple futures, stock & forex positions up to months at a time.
I was implying that because this newbie is not trying to pay their bills from trading they could take their time through the long learning curve in front of them.
And start with something you know, or are familiar with. It can be stocks, commodities, currencies (if you work in banking), etc. Buy/invest in what you know first and go with longer time frame trades, then branch out into other areas.
I started by investing in the industry, companies I knew.