Trading Basics

'Trading time frame” refers to the length of time that you generally plan to hold trades. Will you trade intraday, short-term, long-term or somewhere in between? What is your definition of short-term, long-term, etc.? This is a critical decision as each individual has a different temperament for risk. It is essential to trade in a manner that fits your own personality. Day traders will tell you that day trading is the best way to trade and will give you very good reasons why they believe this is so. Trend-followers will tell you that trend following is the only way to go, and so on and so forth. The bottom line is simply this: No matter what anyone tells you, there is no one best way to trade. You must identify the approach that is best suited for you personally. If you can’t follow the markets all day, then it is unrealistic to expect to be a successful day trader.
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