I've been noticing these days some website and videos talking about day trading and swing one. As a trader i've been trading for 4 months, i wasn't sure what strategy I'm following or what trader am i . I just kept trading, getting small profits and more smaller losses, but what i didn't understand is why i'm not making more money while thinking that "i'm good in trading" considering that i didn't loose alot trades. I thought i was good, but the income is limited and not enough (for me). I started searching and trying to learn what i didn't know before about trading, trying to find some tricks and tips .. you know when you are an amateur.
Actually trading is not that complicated, you have to learn, sometimes you earn and sometimes you loose and learn again from your faults. However, after searching i realized that i don't have a " Trader Identity " and i didn't know what trader i was, i realized that first step you should do before start trading is to know what trading strategy you should follow, mainly there are 4 trading strategies as far as i know, there is long term strategie which is " #Position #Trading " and this strategy takes weeks, months and yeara in certain occasions, and there is Medium strategy usually takes days and sometimes weeks, it is " #Swing #Trading ". Also, there is short term strategies, they are 2, the first one is called " #Scalping #Trading " this strategy is difficult it can make you a good earning or a great loss, this strategy takes only minutes or seconds. The last one is which I'm currently using is " #Day #Trading " this strategy is safe but for a beginner trader is not profitable that much. The day trading market has 2 and only 2 Requirements in order to earn more and to avoid losing trades : ( aah just to remind you that all these strategies require focus, have a good knowledge about the market structure, fundamental analysis... .)
1/ You have to do many trades a day to make more profits.
2/ Do not hold positions overnight, it means do not be greedy and think like " this trade i good and it's making me money i will go to sleep now and tomorrow i will exit the position " 8 hours later : Bang, you are loosing the trade.
For me, I'm still under the development and I'm still learning but as far as i know, the best 2 choices to start are : firstly, day trading, which is a beginners supporter. And secondly, " swing trading" after you level up from day trading.
1 / keep your emotions and feelings away from trading .
2/ learn how to analysis a market, including fundamental analysis and technical analysis.
Thank you for reading and i hope you like it