The idea of becoming a position trader scares me

[johnhesler]

I really prefer day trading. The waiting time for swing or position trading is too much for me. But my job is trying to change my trading system.
I only have about 30min to day trade between 7am to 4:30pm.
What do you think I do??

 

[Enivid]

I really prefer day trading. The waiting time for swing or position trading is too much for me. But my job is trying to change my trading system.
I only have about 30min to day trade between 7am to 4:30pm.
What do you think I do??

I'd say transition to position trading. The bulk of my income as a Forex trader comes from long-term trades (held for more than a month) and I would say that such trading is less stressful and easier to analyze and enter properly. Trying to rush day trading inside a 30-minute period is a disaster waiting to happen in my opinion.

 

[alzheimer]

I really prefer day trading. The waiting time for swing or position trading is too much for me. But my job is trying to change my trading system.
I only have about 30min to day trade between 7am to 4:30pm.
What do you think I do??

Play long-term. Open positions that will last for several days or weeks and just adjust risk regularly (like every day) according to the new incoming information related to your trading idea.

 

[BritneyHolden]

Go for long positions, as suggested by fellow members. Trading in 30 min is very risky and could lead to wrong in many ways.

 

[hayseed]

I really prefer day trading. The waiting time for swing or position trading is too much for me. But my job is trying to change my trading system.
I only have about 30min to day trade between 7am to 4:30pm.
What do you think I do??

//------

don't under estimate the true value of a job...... trading can be pretty much a 24 hour a day thing.....

they can complement each other.....h

 

[ego eimi]

I really prefer day trading. The waiting time for swing or position trading is too much for me. But my job is trying to change my trading system.
I only have about 30min to day trade between 7am to 4:30pm.
What do you think I do??

so you mean you only have 30 min in a day to plan your trades

 

[Flophouse]

I trade short positions and won't exaggerate about it because imo, both trading short or long positions can be profitable yet risky. Choosing one one for trading is your individual choice.

 

[HeavenLeighGill]

I'd go with position trading if it were me, but of course we all prefer to do things differently

 

[Fried_Rice]

Do what ever you are comfortable with. If you expect to fail, then expect to fail.

 

[Witzsoul7]

Play long-term. Open positions that will last for several days or weeks and just adjust risk regularly (like every day) according to the new incoming information related to your trading idea.

I like that idea, periodic adjustments of settings to continue trialing trade, my faults has still been, extent of space allowed between those adjustments, otherwise, forex trade that ensures no panic is best with the option of position trading pattern.

 

[alzheimer]

I like that idea, periodic adjustments of settings to continue trialing trade, my faults has still been, extent of space allowed between those adjustments, otherwise, forex trade that ensures no panic is best with the option of position trading pattern.

Yes but it relies on almost perfect prediction on the future. Patterns work as expected when there is no fundamental drivers based on fresh incoming info, so market players can focus on the information contained in the price (which is the core of technical analysis)

 

[Haruto]

I think, you can use the pending order strategy according to your free time! 30 minutes is quite enough if you have a clear view of your trading strategy!

 

[Marco877]

I really prefer day trading. The waiting time for swing or position trading is too much for me. But my job is trying to change my trading system.
I only have about 30min to day trade between 7am to 4:30pm.
What do you think I do??

If you have only 30 minutes time a day for trading, you better go for scalping. Day trading and swing trading both take at least few hours. If you even then do this, you should supervise your trades by mobile trading apps.

 

[fargana]

I really prefer day trading. The waiting time for swing or position trading is too much for me. But my job is trying to change my trading system.
I only have about 30min to day trade between 7am to 4:30pm.
What do you think I do??

The less trades you make the less will be transaction costs. This style has its own benefits imho

 

[AlexOZ]

Like many others I find longer-term trading less stressful and more accommodating to other aspects of my life. However to earn a significant return you'll need a large amount of capital (yours or others), if you want to maintain a low risk profile (as you should). Remember your trades will have larger stops to ride trends than shorter-term ones. That means smaller lot sizes.

 

[ankita_gokhale]

I think you need more research and time as well as patience.