Hello all, I’m very new to this - Have graduated from the school and was hoping some would give me some advice on a trading plan please, not to follow verbatum but to head me in the right direction. Here is the deal I can only spend a max 1-2 hours a day so it has to be very short term ie. No over night positions. Any help will be appreciated. Ta.
Usually if you only have 1-2 hours, you might want to try swing trading. Could I ask why you don’t want over night positions? If your comfortable, with the over nighters, then you probably want to disregard what I say. With I used to trade short term too, the only thing is it hurts your winning % if you aren’t in the market 24/7 right. so say your system is a 90% winner, but you are only in the market 8% of the time, your winning percentage decreases quite a bit, and you lose your edge. You could also try meium term, that way you don’t have to constantly look at the screen, you can just glance at it once in a while. You could always day trade
I agree with Shadow. If you’ve only got 1-2 hours a day to focus on the markets, then you probably should be thinking swing or position trading. That’s especially true if your available time falls during one of the quieter periods of the trading day. During those spans you are unlikely to see enough movement on a consistent basis to make short-term trading worthwhile.