Strategies for part time traders
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  1. #1
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    Strategies for part time traders

    I have noticed to my amazement that there has been not thread on how to help part time traders in this forum , at least i have not read one, so i take it upon myself to create a thread here on the best strategies that part time traders could adopt to trade the market . I will like to hear good comments from my fellows here on the best way to assist part time traders.


    1, HOLD A POSITION FOR A LONG TIME:It is critical that you understand the drivers of your currency pairs and have taken the time to really understand your market. Therefore, after studying the market and narrowing down particular chosen currency pairs, selecting a few positions and holding them for a longer period of time is a prudent strategy for part-timers. Another wise strategy is to put in stop-loss orders with all your trades to minimize any losses if the market moves against you.


    2,TAKE TIME TO STUDY LONG TERM TREND:There is value in looking at longer-term trends (daily/weekly) instead of looking at hourly or even four-hour charts. This will allow you to trade while looking at your computer only once a day.

    3,SET UP TRADING ORDER AHEAD OF TIME.:Setting limit, stop-loss or other entry/exit orders can ensure you do not miss opportunities to enter or exit positions.

    These are the three ways by which i know that part time traders can adopt without missing trades.

    You are free to add some to the list.

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  2. #2
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    Holding position for long time requires a trader that knows how to analyze the market on long term and this requires a good trader of a good experience because not all traders can analyze the market well on long term and only knows how to analyze it on short term and so they trade with short term strategies always and do not trade with long term strategies.

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  3. #3
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    We all know that part time traders do not in anyway have all the whole time to be active in their chart. So I suggest they should look for long term trading. This will go a long way to help them also manage their risk and look on the chance to improve in making profits. These part time traders can take trades and set good take profits and stop loss to see they have opportunity to focus on other things that are necessary.

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  4. #4
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    The part time trading means that the trader don't have much time to trade and watch the market consistently, that is the need of making use of the part time trading method, which is really a good means. I think if you are a long term trader then by default, you are a part time trader as you don't spend much time on the market.

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  5. #5
    Trader Lyon's Avatar
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    The way the market works, it gives traders the ability to trade in what so ever means and method they want to follow. The part time traders don't need to say in the market for long. They just need the concept that would enable them make use of the daily chart and make analysis at least twice in a day. That is the method I make use of in making my analysis and following the market trend.

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  6. #6
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    It is essential that the trader gets to be good with the analysis making, because only when you have made some good analysis and get in good position that you should think about holding the position for long, but when you haven't then you would loss your money. I like making use of the daily time frame on getting good analysis and then I do hold the trade for a long time.

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  7. #7
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    Part time trading is not that easy because any trader that doesn't trade forex market fully does not really have a good experience about the market, this is a business that anyone that wants to succeed have to pay a good attention to the market and understand how the market works, honestly it is good for part time traders to go for long term trading but it will be very helpful if such trader can really have accurate analysis before making any trading decisions in the market.

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  8. #8
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    Forex trade can be trade in part time and full time, trading forex market in part time or full time doesn't matter to me, what really matters in this business is how you understand and have a good experience in it that will make you trade forex in any way that you choose to do it. This is a business that will be very suitable for we all to trade even if we have some other jobs to do.

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  9. #9
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    Quote Originally Posted by Archman View Post
    The forex trader who intends to deal in part time trading would have to approach things from long term perspective.This could be weekly or monthly set up.The trader would not then need to regularly check charts or visit them intraday but weekly or monthly.The partime trader should have set everything in place such as stop loss,take profit ,adequate lot sizes enven in some cases pending orders.These orders will happen in the absential of the trader.
    I think the daily time frame will be good and also profitable to trade with the part time trading method. On the other hand, a trader that trades the part time method will be able to save him self from so much losses, because the trader will be looking forward to taking good trades that has formed in the market. I think it is something better and good than trading with the consistent scalping or daily trading.

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  10. #10
    Trader Lyon's Avatar
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    Quote Originally Posted by Archman View Post
    The forex trader who intends to deal in part time trading would have to approach things from long term perspective.This could be weekly or monthly set up.The trader would not then need to regularly check charts or visit them intraday but weekly or monthly.The partime trader should have set everything in place such as stop loss,take profit ,adequate lot sizes enven in some cases pending orders.These orders will happen in the absential of the trader.
    It demands a lot of patient when a trader wants to trade the part time trading method. Being able to have a good decent learning would improve the way traders takes on their trades. I like making use of long term trading method. Although I don't spend so much time on the chart, but yet I trade at most 5 times in a month or more, depending on the situation of the market.

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