Day And Swing Traders

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Discussing three specific part-time Forex trading mistakes that one
must avoid to begin to improve part Forex trading strategies today.
If one one is not a full time Forex trader or one is in a full time
employment but one wants to trade the Forex market then one
is a part-time Forex trader.

This is the first video in the series of videos titled:
Combatting Part Time Forex Trading Mistakes Like A Rapid Intervention Force.
Be sure to watch the video in full and stay tuned for part two
and three.

Many part Forex traders are in a full time employment and for that reason they can only trade Forex as part-time traders.

The first mistake that most part-time Forex traders are making is to analyze Forex charts from a smartphone or tablet. Really, it is not the same thing to analyze a chart from a smartphone or tablet as it is from a desktop. The best approach is to use a desktop to conduct a proper chart analysis then only use the smartphone or tablet to execute the trades. Generally, Forex part traders do not realize that this is big issue but they are making wrong FX trading decision just because of that narrow view point ( smartphone and tablet) from which they are analyzing the chart.

The second mistake that part-time Forex traders are making is to place a trade while they are at work without placing a limit order to take profit at a profit target level. Consequently, a profitable trade may turn into a losing trade just because one has failed to set a limit order to close the trade profitably.

Third mistake
It is also a mistake to place multiple trades at the same time when one is at work. As one is working, one is not in control of those trades, therefore one can not quickly cut losses as soon as possible as someone who is a full time Forex trader. Indeed, it would be better for a part-time Forex trader to place one or two trades at a time.

Learn more.

Revealing another three critical day or swing trading mistakes that part-time Forex traders are making. One can effectively improve part-time Forex trading decisions by avoiding those mistakes.
Indeed, many part-time Forex traders are not aware of the mistakes
that they are making. Therefore, they can spend years wasting real
money by repeating over and over those mistakes. The purpose of this FX trading tutorial is to give Forex traders that essential wake up call before it is too late.

Begin to do something today that will help your part Forex trading.

Usually, part-time Forex traders who are working full time usually trade the
Forex Asian session. The asian Forex market is often a quiet trading session unless there are high impact economic news. In effect the price often consolidates between two key levels. Commonly, many part-time FX traders often place their trade during the asian session before going to bed. They also leave those trades in place throughout the time when they are working full-time.
Though, sometimes, that approach will be fine, it regularly leads to consistent losses. Most of those trades generate losses as soon as London is open. In many cases, the part-time trader is correct about where the price is headed, but they are just careless about placing the trade before London is open.
Best times to place a trade is after the first thirty minutes when London or New York is open.

This is concerning part-time FX day traders. If a part-time day trader opens a trade during the London session, and that trade is profitable enough, one must secure all gains or close the trade before New York opens. One will do the same thing after New York closes if one initiates a profitable Forex day trade during the New York session.

Warning
Do not let another market opening erase your initial day trade profit.

Trading risky or useless financial instruments. For a part-time FX forex trader who is not in control of the trade 100%, it is prudent to stay away from risky and volatile currency pairs such as GBPJPY, CADJPY, EURJPY, GBPCAD, GBPCHF
or any currency pair that includes the Japanese Yen.
Yen currency pairs tend to be volatile. Another currency pair that may be useless for part-time fx traders is EURCHF. All in all a part-time FX trader does not want to complicate things with those risky currency pairs especially if one is a beginner Forex trader.

Learn more.

Take the third step to combat typical part-time Forex trading
mistakes as soon as possible.
Learn more.

A part time Forex trader can accumulate small losses over the years without feeling it at all. In this instance, one is funding the Forex trading account after one receives a salary. Each time, one is losing those small funds because of few bad FX trading habits. However, because one is hopeful to do better in the future without doing something
about those loses, one may not worry about those monthly small losses. Consequently, those small losses will grow into large sum at the point no return.

Warning
If one is losing real money over the years as part-time Forex trader, one should seek appropriate help or stop wasting more money.

Trading Forex is very addictive even if one is a part-time FX trader. The combination of the excitement, adrenaline, greed, pressure, volatility and those beautiful Forex charts and software can produce acute Forex trading addiction. The trouble here is that one wants to stop but one could not though one is not making profit in the Forex market. From the first day, one, should remember that life is not all about trading and one should not waste large sum of money pursuing things or goals that they may never achieve.
If one is addicted to trading but one could not stop, there is a simple solution.
Call the brocker and close the trading account. If one does not have the stamina to close it, ask for help, a help for closing the account.

Learn more.

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