What is The Best Trading Strategy to Earn A Living?

Trading is a patience game if you plan to transcend your success rate. Expecting to follow gibberish on the media and then use that to make trading decisions is a foolish endeavour. It is a blunt statement but sugarcoating metrics in trading is like a politician's promise. It looks good but never approaches fruition. Still, playing the long game is not everyone's cup of tea in the trading game. I have seen a lot of ingenious traders who possess the skill but lack time.

If you cannot devote time to the trading, then not every trading strategy applies to you. Replicating trading strategies and expecting similar outcomes should be avoided by new users of the trading platform. Using a certified and bankable trading platform like Skilling can shroud you from the existing pitfalls of trading. After extensive research and experiencing many significant and minor trading strategies, I have selected the following. These strategies are not visualized as a short-term success but learning to manipulate it to your benefit.

News trading strategy

News trading strategy is the most popular and widely used by beginners and intermediate traders. This strategy involves studying and dismantling news about stocks, finances, and companies. Reading between the lines is to be avoided as the markets operate on facts and not wild-guesses. News trading involves choosing a trade option depending upon the predictions and changes described by the news. It is an active strategy as you have to quickly decide and make trade judgments based upon the previous report.

End-of-day trading strategy

The end-of-day trading strategy uses the data summed up throughout the day. Using this data and then comparing the fluctuation of the stock price. This strategy requires slightly less time to execute as you are studying the present data and is best used by traders with time constraints. Traders use the price action into consideration and compare it to the previous day's price movements. However, factoring in the overnight risk can help traders avoid the potential loss of investment capital. End-of-day trading consumes less time can be practised by most novice traders. The research time also shrinks as the market orders are made in the morning or night.

Day trading strategy

Day trading is an active strategy that involves holding on to the day's market positions and leaving them the night. It is p to avoid the volatility that exists overnight. The risk is only limited to the day trades and is usually within a 1-4 hour window. Determining the hazards and trading for only short terms makes day trading or intra-day a relatively quick, rewarding strategy. Day trading also brings you multiple trade opportunities that allow you to operate in local and international markets.

Scalping trading strategy

Scalping is relying on the smaller profits and accrue them to make a large chunk of returns. Scalping neither compels you to partake in high yields or high-risk trades. It is a relatively calm trade strategy that steers away from the thrills of trading platforms. The risk and reward ratios are equal, so it's either a win-win or lose-all strategy. Scalping is applicable on smaller trades that last a few minutes, so the overnight risk does not affect this strategy.

Conclusion

Making a livelihood trading requires both initial investment and immense patience. It is not a short-term gig but a well-evolved and undying profession. Finding a mentor that can teach you the nuances of trading and save your time is the apt move. Reputed brokers like CopyTrade are transparent and do not have any hidden costs or fees associated with them. Stop hesitating and start your trading journey now.

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