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  • Results 1 to 10 of 1431

    Thread: Bidyut's Trading Journal

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    1. #11
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      Its nice to have your valuable opinion in my trading journal. It doesn't matter which strategy we're applying in our tradings. If we understand it better and we're getting good result from our existing trading strategies then we must stick with it. Most of the time trader do not able to perform well by adopting a particular strategy, they think that it is not good for them or it is not profitable strategy for them. Actually the real problem does not lies on the strategy itself. If the trader do not apply the strategy perfectly then definitely the output will be not good at all. Most of us have discussed whether long term trading strategy is good or short term strategy. Here I want to say that both types of trading are good. There may be some advantages of disadvantages in opting short term or long term trading. But if a trader is much alert about it then I think there is no problem at all in adopting anyone of the strategy. Market is going nowhere so I'm not able to post any good analysis in these days. But I hope soon I'll able to find good opportunity and at that time I'll post my analysis in my trading journal. I'm also not active in contest at this moment. Only in one million option trading contest I've tried to participate with new experiment. I've tried to open my options for 10 minutes and try to see the result. Because I've seen that many good participants are doing well in short term. Here we've to predict correctly so it needs a lot of good practice. So this week I'll try to practice in option trading contest where I'll try to open options for minimum time frame. This is just an experiment and nothing else so it is possible that I may not get desired result at first. I may switch to long term in option trading contest at any time if I don't get good result in short term. Yesterday I've able to predict 6 options correctly out of 11 and that is also in 10 minutes time period. Today too I'll try to experiment with my short term strategy and let you know about the result tomorrow.

      Quote Originally Posted by zahid4x View Post
      I already said with short term strategy you will get more problem of controlling your mind. This is high risky business. If you want to do this business with successfully then controlling mind is most important and if you want to control that then from beginning time you should try to use long term strategy, because with long term strategy you can easily control that which i can do in my trade.
      Both short term and long term have some advantages and disadvantages. But if we try to look at long term trading then we'll find good advantages. Those who have low capital can opt for long term trading with low lot size orders. If they do so then they will easily able to gain good number of pips. This way their equity would grow with time. Here the trader should know where the market is moving and upto which level it could move. In such situation the best way for the trader is to open orders at oversold or overbought territory. Suppose a trader want to sell a pair then he/she must try to sell the pair at overbought territory. Patience and good experience is always needed to perform long term trading.

      Quote Originally Posted by whiteliontrader View Post
      You are right, the mind controlling is what the traders that are using the short term trading strategies will be battling with, but when they could fight and win it, it will be better. Although, i do not like traders to be going for scalping trading strategy, but it might be what is good for the traders at times. Perhaps, if you can not use the short term trading ways, just stick to your long term ways of trading, after all, it is success that all traders are using one way of trading or the other for. We have to be careful about this and be so happy after all.
      In short term we may see numerous ups and downs. To avoid that we can opt for long term trading. But again here everything depends on the trader itself. We can't force anybody to opt any strategy. If the trader do not feel comfortable in doing long term trading then he/she can opt short term trading. In scalping too we need a lot of good experience and good trading skills. For a trader it is very important to adopt a strategy which is easy for him/her to implement. Which can give him/her the comfort and the easiness, then only he/she will able to succeed in the profession.

      Quote Originally Posted by harbir View Post
      The biggest advantage of the long term trading is that if you have a good account balance then you can hold on to a trade for as long as you want and we know that after some time the price of any particular currency will come back or retrace and our trade will be in profit but in short term trading if our trade in loss then we have to close it and open another one but there is no doubt that in short term trading there are more opportunities to make profits.
      That is true harbir bro. We can hold our trading positions for long if we've good equity. But we've to be very alert and not to go against the trend. Long term trading doesn't mean we'll able to earn a lot of profit. If our analysis won't go right then we'll get the negative result. So here we've to be ready to cut losses if needed. The best way to deal with long term trading is to open low lot size orders. As I've already mentioned it many times in my previous posts. Yeah in short term we can get a lot of opportunity to trade and to make profit. It is not important which strategy is good, the important part is how we trade and how we able to get our desired profit.

      Quote Originally Posted by catfish007 View Post
      It is good to learn how to control our minds, even if traders are using long term pattern of trading, aside from the short term trading you made mention of, they have to control their minds, because no part of the trading of the market is immune from losses, or give traders the heartbreaks. We all have to be sure that we do trading very well, we have to make sure that our trading are being done after the training we had. Not that we will think that a short term strategies should be avoided due to one reason or the other, we have to be very careful about this.
      Hi catfish007 bro yeah it is very important to control our mind during trading. Right mindset is always needed to perform well in our tradings. With growing experience and knowledge a trader can control his/her mind to some extent. Most of the successful trader do not feel bad even they face losses in the form of SL hits or cut losses. Because they know that if they do not close the bad trading orders then they will lose all. So they are positive person and always able to deal with any market condition. So here we've to trade with proper strategy and with proper money management too. Even we face losses it would be limited to few bucks only because of proper stop loss. So in every trading strategy we've a probability that we could lose some amount. We must be ready to face such situation then only we'll able to progress in the profession.

      Quote Originally Posted by penuelophir View Post
      Personally, I love to trade on the longer term because first it allows me to trade without stress and it gives me time to execute my trades without being in a rush, but for me it is not best means of compounding my profits over time. As newbies I believe we should learn from the longer term so that we could possibly master what we are doing without stress.
      That is nice penuelophir bro. It is good that you like to trade for long term. Long term trading is also helpful for those who do not want to trade frequently. We don't need to trade all the time if we trade less and for long term. But most of the time we can't do that. Because we do not have that much of patience and only experienced trader can do that. It is good if every newbie try to understand the importance of long term trading. Actually there is no harm in doing long term trading if we can analyse the trend properly.

      Quote Originally Posted by forexguy9 View Post
      well, whether trading long term or short term, a serious trader's major challenge is in having the right skills and experience that works in the business. a consistent work on this would be necessary to make a long-lasting success in the forex business.
      If we've good knowledge and experience then we can do well in any types of trading. Yeah there is no doubt that we've to maintain the consistency. We can only able to do well if we know how to implement a certain trading strategy into our trading system. What are loopholes and what are the benefits in adopting certain trading strategy is also important for us to consider.

      Quote Originally Posted by Honey Bee View Post
      Short term trading will best for us we are small investors and we will have a good plan and strategy start with small profit then thing for more, try to safe account from red margin call control on our greed or bad habits understand the importance of the market then we will choose long term trading when we will reached to $2000.
      Most of us are day trader and we do short term trading. There is no harm in adopting short term trades because here our targets are small and we can book profit on daily basis. Yeah if we've good equity in our trading account then we can adopt long term trading. But again it depends on us which strategy suited us most. For long term trading a trader must have good patience. If we able to keep patience during long term trades then definitely we'll able to reap huge profit at the end.

      We've got different opinions and views on short term and long term trading. Its good to get your valuable opinions on this particular topic. Actually most of us are short term traders because we always want result instantly. Once again I'm glad to have so many responses on this particular topic.

      I'll try to look at pairs and try to give some analysis later. Have a great trading day to all of you.

    2. The following 18 users say Thank You to bidyut for this useful post.

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