It just seems too risky in today’s economic environment to place any trades on what will be 90 days out.
I prefer trading the FOREX market. I no longer trade the currency pairs, instead I focus on the SPX500 (S&P 500) and US30 (Dow Jones). I am trading what I believe the price of those indexes will be compared to the US Dollar. This can be done on 1 minute charts up to the Monthly chart…I trade on the 5 minute chart while using 15 minute, 30minute and 1 hour chart for the current bias (up or down movement of the US30), with my day starting out by looking at the 4 hour chart to glimpse the bigger picture. On many days I can make what used to be a 2 week paycheck before my first cup of coffee is gone.
It can be very risky and learning the skill and proper psychology will take time. But after burning a few small accounts, I did nothing but demo trading for over a year. Some friends I started learning with would criticize me for my demo trading, with a couple getting personal and nasty about it. Now? They just simply STFU when they see my profits.
It just seems too risky in today’s economic environment to place any trades on what will be 90 days out.
I prefer trading the FOREX market. I no longer trade the currency pairs, instead I focus on the SPX500 (S&P 500) and US30 (Dow Jones). I am trading what I believe the price of those indexes will be compared to the US Dollar. This can be done on 1 minute charts up to the Monthly chart…I trade on the 5 minute chart while using 15 minute, 30minute and 1 hour chart for the current bias (up or down movement of the US30), with my day starting out by looking at the 4 hour chart to glimpse the bigger picture. On many days I can make what used to be a 2 week paycheck before my first cup of coffee is gone.
It can be very risky and learning the skill and proper psychology will take time. But after burning a few small accounts, I did nothing but demo trading for over a year. Some friends I started learning with would criticize me for my demo trading, with a couple getting personal and nasty about it. Now? They just simply STFU when they see my profits.