While a few people can afford trading Forex full time, traders look for part-time opportunities to open and close positions at night or lunchtime. Periodically trading can result in missed opportunities when selling or buying assets. In this article, we will show some proven part-time strategies that will let you avoid disasters in the face of missed trading opportunities.
If you are unable to act as a full-time trader, you will need alternative tactics based on part-time schedules depending on your personal preferences. On the other hand, such an approach comes with certain restrictions. For instance, if you are a night trader, you should consider limited trading instruments (certain currency pairs or indices that are not available for round-the-clock trading).
In this case, you will require a more flexible strategy to combine assets available 24/7. Besides, you will need to apply a sort of correlation between different world currencies in order to succeed in part-time trading. Learn Forex trading strategies that work.
Short-term Trading Strategies
Opting for a short-term strategy can be both risky and lucrative. The concept considers trading for as short as several minutes. First of all, you need to recognize a proper short-term trend. The idea is not just to spot the asset but also to protect yourself from potential loss.
This is where several basic approaches might help. They include:
- Monitoring Moving Averages – you need to keep an eye on the stock or asset price within a specific period. As a rule, traders use common timeframes that may differ from 15 to 200 days. It helps to overview the trend moving upwards or downwards.
- Cycle Trading – trading in cycles is the best idea when it comes to short-term strategies. It will help you to determine the most appropriate time to enter the market.
- Sense of Trends – depending on the trend (positive or negative), you can decide on whether to buy or sell it. This is what pros call "getting the sense of a market trend" to make a profit even when the market is against them.
- The best concept to go short.
- Good for trading on the falling market.
- Flexible in terms of trading time frames.
- It can be risky.
- Calls for in-depth analysis and analytics.
- Not good for newbies.
Did you know that you can easily test any strategy under real-market conditions with a free demo account? While trading with free $5000 on your test account, you can take any decision and don't risk at all! See how everything works before going to make profit on Live.