Go Back   BabyPips.com Forex Forum > Main Discussion > Newbie Island


Newbie Island This forum is for Forex beginners. If you are new to the Forex and have a question, this is the best place to ask it. If you're looking to learn Forex, get your training and education at the School of Pipsology.

 
 
LinkBack Thread Tools Display Modes
Prev Previous Post   Next Post Next
  #1 (permalink)  
Old 01-12-2008, 09:45 AM
 

Join Date: Jan 2008
Posts: 8
Question 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.
Reply With Quote
 



Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

All times are GMT -4. The time now is 05:54 PM.
Content Relevant URLs by vBSEO 3.3.1
"When the going gets tough, the tough gets going."
Joseph Kennedy
Feedback Form