Forex strategies for part time trader

Forex strategies for part time trader

There only few people that become full trader in forex trading.  Often, traders make their trading activity in their night, lunch or when get breakfast.  

Know your market

Assuming that you work at nine to five every day, then you can trade in after or before you work.  The best strategy to trade is either block of time that pick from the most active of currency pairs in time that you are trading.  Know what time of major currencies market open will help in choose the major pairs. Classic Technical Analysis Tool Flaw for Today’s Forex Trading

For example, during time of 12.00-2.00 am, market in Japan and Europe is available in full swing and this will be great opportunity for part time forex trader to choose major currencies pairs such as JPY/EUR, EUR/CHF, or other pairs such as HKD/SGD. 

During time frame of midnight then trader can choose AUD/JPY currency pairs as this is available for the major pairs. Remember, before place the bets, trader need to know and understand the market by learn the technical pairs as fundamental from the currencies. 

Stop the loss order

Assume that you only able to trade with minimal amount in a day, for example, 2 hours. With this condition, the best strategy that you can do is let your computer as your trading partner. As the forex trading is so fluid, then when you do not have flexibility to watching market can leave you with missed too many opportunities. 

Employ trading program can give you best strategy with giving you the updated information. The action of stop loss order means that the trading order is placed with the broker to sell the security when the item reaches the certain price. 

Price action 

Assume that you are go out for a while, then best strategies that work for part time trader can be price action trading.  The price action trading is analyzing technical or currency pair’s charts and trading that based on the charts show you. 

With this strategy, trader is able to analyze the bars, which is the current bar is higher high or higher low from the previous.  The trader also can look up from the other indicator come from outside and inside bars. 

Other strategies that can work

You can still trade in forex although you are unable to make trading for entire hour or at regular time every day. 
  • Search for long term trends

  • Set up the trading orders

  • Use the advanced technology 


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