Trading for the long-term

It doesn’t matter whether you are a long term trader or part time trader. But the fact is that if you have the right trading strategy for the trading approach you are following. If you don’t have, it’s not recommended for you to enter trading because Forex trading is such a thing that can fully destroy you.

LyudmilLukanov posted:
It doesn’t matter whether you are a long term trader or part time trader. But the fact is that if you have the right trading strategy for the trading approach you are following. If you don’t have, it’s not recommended for you to enter trading because Forex trading is such a thing that can fully destroy you.

It is definitely something that can take over your life if not careful. I think as people become more experienced thats less so it becomes more boring and methodical. Then success comes because thats the way you actually have to trade following rules and not doing drastic things

I think it's important to figure out which works best for you. Some are better at part-time trading and vice versa. It definitely isn't a good idea to become a scalper if you also work a full-time job, but those that have a lot of free time can succeed doing so. Some also may thrive in one type of trading style while they do horribly with another. Once you figure out what kind of trader you are, things to start to fall into place.

You are right; having a good trading strategy is such an important parameter here! But honestly, it's not easy to build a profitable trading strategy, since Forex market is so unpredictable! Only good skilled traders can do so!

Scalping is short term trading with small target pips but opening multiple trades daily, scalping could become a profitable trading strategy but also need patience because a small target only gets small value, in a certain contest, there is scalping trader able to become a winner in a contest, this is great trader generate high profit on the end contest.

In my opinion, what matters is how you want your trading journey to be. A long trade is always a boon as long as you are making profits. If you don’t want to keep it that long then you can always go for short term trades

Whether you choose to be a short term trader or long term, your priority should be creating and building a strong trading system. You must be able to adapt to change and enhance your skills as you move forward. In order to receive consistent profits, while managing risk and money, you must calculate a risk reward ratio which helps balance your capital and reduces the chances of blowing up your account. By maintaining discipline, you increase your chances of achieving your personal goals sooner.

FredJones posted:
Beginner traders trading long term is a good experience to learn and understand live trading, but most importantly, it also depends on the type of strategies used to earn good profits.

And I would advise beginner traders to try to focus on the result, and not on the duration of trade. Although, even experienced traders should pay attention to this.

quite agree, quite agree... tough not to agree and hard to argue :D

doesn't matter whether you are an investor, day trader or swing trader. consistency; trading strategy; right mood; maintaining a healthy mind level; ability to work a lot and extract a lot.
no way to fail in trading in case traders and investors will comply with these things.

Be careful while trading. It's great to make money and learn about the strategies. Timing and strategy are everything.

You can't go swimming without getting wet. Even if you nail down a strategy you will have losses. But too many are too eager to jump in straight away with live funds when they have no right to be doing so.

Scalping, or long-term trading, depends in part on how much time you have to trade each day.
If you have a full-time job and can trade on the side, then long-term trading is certainly an advantage.

The disadvantage of long-term trading is that there are strong movements in the market today that you should clearly include in your strategy. Our world is changing fast.

When scalping, you should be clearly focused and take a small move that will hopefully be profitable.

The disadvantage of scalping is that you have to constantly monitor the market in order to spot good opportunities and then trade them.

So it also depends on what kind of trader you want to be or what you feel comfortable with. In addition, your professional and private environment is also decisive which trading approach or strategy you want or can use.

sebking1986 posted:
You can't go swimming without getting wet. Even if you nail down a strategy you will have losses. But too many are too eager to jump in straight away with live funds when they have no right to be doing so.

This is very true there is definitely some pain before gain in the markets but you have to go through it. Also you have to do it alone no one can be with you during it. Fortitude is needed and that is forged through time in the markets and losses with wins in a edge based system

Before deciding to trade full time or part time you need to know which suits you the best according to your strategy. If your system is built strong and durable and you’re ready for any kind of market behavior then you can definitely trade forex as a full time trader. The market is highly volatile and every trader must have their own strategy that suits them the best for carrying out profitable trades. If you do not have a long-term strategic plan then you can never earn profits.

No matter whether you trade for long term or short term you still need courage to put in efforts to learn and understand the market. Imo, traders should analyse their personality before choosing to trade short-term or long term. Consider factors like, risk tolerance, and patience level.

It makes no difference whether you are a full-time or part-time trader. It's all about having a sound strategy. You can make money and survive for a long time if you have a strong profitable strategy.

Bransle posted:
It makes no difference whether you are a full-time or part-time trader. It's all about having a sound strategy. You can make money and survive for a long time if you have a strong p

Completely agree, its more about being profitable and keeping that edge. It is all about finding something and repeating it day in day out and as you say doesnt matter if part or full time

If you are a long-time forex trader, meaning that you either practice swing trading or position trading, it is important for you to follow fundamental and technical analysis. Fundamental analysis of the forex market is very important because an examined outlook of all fields of life gives you an idea how the market will perform overtime. This helps you in long term trading in deciding when you want to exit the trade.

Whether you are a full-time or part-time trader, it makes no difference. It all basically comes down to having a solid approach. If you have a solid successful approach, you can make money and survive for a long period.