Strategies for Part-Time Forex Traders (Follow Facebook Page and ask your questions before putting real investments to clear all the doubts http://bit.ly/2IblW9d ) Very few people are available to trade forex full time. Traders who have to make their trades at work, lunch or night find that with such a fluid market, trading sporadically throughout a small portion of the day creates missed opportunities to buy or sell. These missed opportunities can spell disaster for the part-timer trader. The risk of missed opportunities notwithstanding, there are strategies that can work based on a part-time schedule. For example, those who trade at night might be limited to the types of currencies they trade based on volumes during the 24-hour cycle. These night traders should employ a strategy of trading specific currency pairs that are most active overnight. An example would be trading the Australian dollar (AUD) / Japanese yen (JPY) pair or the New Zealand dollar (NZD)/JPY or AUD pair. It is important to analyze the correlation between currencies when choosing a pair, as having time during the day to study the market and implement trades can lead to a successful strategy. The main problem as a part-time trader is you guessed it time constraints. In next posts I’ll try to cover those constraints. KEY TAKEAWAYS => Forex markets trade around the clock, 24/7. Unless you’re a professional trader, you simply don’t have the manpower or time to keep your eyes always on the market. => Fortunately, several basic strategies exist to allow part-time traders to stay active and protect their positions even when they are away from their screens or even asleep. => Stop-loss orders and automated trade entry from electronic trading platforms are just two ways to trade when you’re a part-timer. #NMBO419B

Strategies for Part-Time Forex Traders

(Follow Facebook Page and ask your questions before putting real investments to clear all the doubts http://bit.ly/2IblW9d )

Very few people are available to trade forex full time. Traders who have to make their trades at work, lunch or night find that with such a fluid market, trading sporadically throughout a small portion of the day creates missed opportunities to buy or sell. These missed opportunities can spell disaster for the part-timer trader.

The risk of missed opportunities notwithstanding, there are strategies that can work based on a part-time schedule. For example, those who trade at night might be limited to the types of currencies they trade based on volumes during the 24-hour cycle. These night traders should employ a strategy of trading specific currency pairs that are most active overnight.

An example would be trading the Australian dollar (AUD) / Japanese yen (JPY) pair or the New Zealand dollar (NZD)/JPY or AUD pair. It is important to analyze the correlation between currencies when choosing a pair, as having time during the day to study the market and implement trades can lead to a successful strategy.

The main problem as a part-time trader is you guessed it time constraints. In next posts I’ll try to cover those constraints.

KEY TAKEAWAYS

=> Forex markets trade around the clock, 24/7. Unless you’re a professional trader, you simply don’t have the manpower or time to keep your eyes always on the market.

=> Fortunately, several basic strategies exist to allow part-time traders to stay active and protect their positions even when they are away from their screens or even asleep.

=> Stop-loss orders and automated trade entry from electronic trading platforms are just two ways to trade when you’re a part-timer.

#NMBO419B

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