Part-time strategy
Hi, I apologize if this has been asked before. I wasn't able to find any answer with my searches. I live in EST and I work full time so I anticipate trading either in the evening on the Tokyo market or in early morning in London. Probably not both as that would just be too much.
Now, I've heard people say that trading only a few hours a day will take a long time to get good at it, and I'm ok with that. My problem is that I'm having trouble finding a suitable strategy. There are plenty in these forums, but so many are all based on "Buy when indicator X shows a trend. Sell when indicator Y shows another trend." (oversimplification, yes). Problem is that indicators can show a signal any time. And I can't be on-call for Forex round-the-clock (though I know some people do)
So what can you recommend? I see myself swing trading because of this restriction. So I'd be holding overnight, but I'd be really worried about what happens when I'm not watching. I guess I'd need clear and tight stops and limits because I can't be sitting in front of the charts watching for indicators all the time. But if I hold for longer periods of time, don't my stops and profit-taking levels have to be larger?
This post has been long. Let me know what you think. Things like Cowabunga look interesting, but they just don't seem practical for someone who can only trade a few hours a day. What happens if the sell signal comes while I'm at work. Now if the platform could detect a signal and issue a sell for me... not even sure if that's possible.
Thanks in advance for any advice on where to look for a system.
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