The idea of becoming a position trader scares me

johnhesler

Trader
Jun 15, 2022
1
0
6
30
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

Administrator
Staff member
Nov 30, 2008
18,532
1,355
144
Odesa
www.earnforex.com
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.
 
  • 👍
Reactions: AlexOZ

alzheimer

Banned
Apr 7, 2022
29
7
4
34
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.
 
  • 👍
Reactions: Witzsoul7

hayseed

Master Trader
Jul 27, 2010
1,013
258
149
usa
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

Trader
Jun 23, 2022
1
0
6
33
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

Newbie
Mar 22, 2022
29
0
2
27
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.
 

Witzsoul7

Newbie
Jun 27, 2022
1
0
1
42
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

Banned
Apr 7, 2022
29
7
4
34
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

Trader
Oct 26, 2022
52
5
9
47
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

Banned
Aug 26, 2022
53
13
14
43
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

Active Trader
Nov 14, 2022
131
17
29
34
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

Trader
Apr 22, 2023
59
9
14
72
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.