Strategy?

[JL6trader]

Hi,

I am wondering what is the best strategy to use and implement working around a 9-5 job, as well as giving me freedom of time and also a good return?

Cheers

JL

 

[Dr. Toad]

Not sure if you are being serious or not... With a 9-5 job your options are pretty much limited to buy and hold, trading on a timeframe of a week or greater, or automated trading.

If you aren't willing to spend the time, then the only option for you is buy and hold. Might I suggest investing in the S&P 500...it is the yardstick that everything else is measured by after all.

 

[tomorton]

I no longer work a 9-5 job but I don't enter/close/manage any trades between 9 and 5 anyway. I am strictly a trend-following trader so I set my entry orders, stops and TP orders each evening. The positions then either open next day or they don't: if they do and price hits one of my exits, I'm out: if the position opens but does not close that day, which is the case 90% of the time, I can always adjust the exit orders next evening if I wish, depending on how many new trades opened, the individual share's performance on the day and what the underlying index has done.

I don't feel any need to touch the orders or positions during the trading day. If I can't see rational and affordable exit prices for the stop and TP, using daily charts, I wouldn't be placing an entry order anyway.