ernest8fingers
Master Sergeant
- Messages
- 488
my way
I typically DAY trade-or- hold a trade longer if I have decent "in profit trade".(Position trade). I loath holding trades longer than a day though-as the trade would suffer through RollOver. I NEVER hold trades over the weekend. As traders Enter and Exit throughout the 3 main trading sessions-so do I-generally. I really dont Scalp(holding trades only seconds to minutes)but I am not above "getting out" if I feel I am on wrong side or too early(depends on Lot size traded as I REALLY hate "drawdown Anxiety". I do not place Stops(OneCancelsOther) or OCO orders until trades are "locked in profit". I then place OCO's as protective measure.This is usually done within the 1st hour of trade Entry.It is not uncommon that I will ride a currency pair both ways during the 24hr-3 session trading day.A Major News Release (like an Interest rate Decision or a NFP release) tends to direct a currency pairs direction for more than 1 day and that is rare time(for me) that I will Position trade. I am a Day trader because thats where my mental/emotional/financial "comfort" zone is. I have tried any and all other ways to trade in the last 5 years and really only Day trading works for me.
I typically DAY trade-or- hold a trade longer if I have decent "in profit trade".(Position trade). I loath holding trades longer than a day though-as the trade would suffer through RollOver. I NEVER hold trades over the weekend. As traders Enter and Exit throughout the 3 main trading sessions-so do I-generally. I really dont Scalp(holding trades only seconds to minutes)but I am not above "getting out" if I feel I am on wrong side or too early(depends on Lot size traded as I REALLY hate "drawdown Anxiety". I do not place Stops(OneCancelsOther) or OCO orders until trades are "locked in profit". I then place OCO's as protective measure.This is usually done within the 1st hour of trade Entry.It is not uncommon that I will ride a currency pair both ways during the 24hr-3 session trading day.A Major News Release (like an Interest rate Decision or a NFP release) tends to direct a currency pairs direction for more than 1 day and that is rare time(for me) that I will Position trade. I am a Day trader because thats where my mental/emotional/financial "comfort" zone is. I have tried any and all other ways to trade in the last 5 years and really only Day trading works for me.
