Home What is the Best Trading Strategy To Earn A Living?

What is the Best Trading Strategy To Earn A Living?

What is The Best Trading Strategy To Earn A Living?

Well the immediate response to this question is that the best trading strategy is the one that fits you best depending on your circumstances and personality. We are getting lots of time this type of question here at TopTradingPlatforms.co.uk and we all wish we could give our readers a straight answer…like a receipt for cooking a pasta. As you will probably know this is a very difficult question and this is why we need to dedicate some time to give you an in-depth answer.

The reason why we cannot simply give you a straight answer is that online trading is very competitive and there are many markets and many people involved: each market is different and each person is different and this is why, although it is certainly possible to find the right answer, it does require further analysis.

We truly believe that the best online trading strategy to earn a living or a long term profit is the one that best fits your style and circumstances. As it is quite complicated to explain we are going to answer this main question by asking and answering many related questions. By the time we have completed our process you will know what to do to find what strategy is most suitable for you.

The reason why we cannot generalise is that we could say the best strategy is a price action strategy and this might be true for me but not right for you as you are unable to trade as many hours as I can due to different circumstances. The best trading strategy has to be custom built for every person and it will be different one to the other. By reading all this article you will know what is the best trading strategy is for you. We strongly suggest that you bookmark this page as you might need to comeback here from time to time as it will be a valuable help in building the strategy that is custom made for you. There will be lots of different trading strategy examples that you can use as a reference to build out a full range of useful strategies that you can test in the future.

Best Trading Platforms to earn a livingHow to Determine What is The Best Trading Strategy For You?

Each trader need to test different trading routine before finding eventually the best trading strategy that will use for long time. Jumping immediately into trading without a strategy and objectives will mean you will in the best case scenario lost time and you could actually lose all your capital. So creating a plan that you will use daily will make things easier in the long term. Those are the things you have to ask yourself:

How much time per day can you dedicate to trading?

This will be different from person to person depending on your circumstances. If you have a full time job than you surely will have less time to trade than someone who doesn’t work 9-5. If you are in a situation like that then you will need to find the best long-term strategy you can and than make the trades in the morning before going to work or in the evening when you are back. The good thing about trading online is that you can adapt your strategy based on your personal circumstances so everyone can trade in their own way.

How patient you are?

Another important thing that you should find out is how patient you are. If you are not a patient trader than you are not going to be able to wait for days for entries and you would need to focus on short-term strategies that will give you maybe smaller but tangible results very quickly. If you are a patient trader than you can consider long term strategies as you will be able to hold your nerves in adverse situations as you will have a long term goal.

Top trading strategy for intraday and forexHow much money do you have to start trading?

You can start trading online with a very small capital but it is important that you ask this question to yourself. The reason is that the amount of money you have to start trading will determine which type of strategy will be mostly suited to you. If you start with a small balance of £1,000 than you would need to find the best mt4 trading strategy and the reason is that mt4 is the platform used by forex traders that don’t need large capitals to start trading. It would also be important for you to set stop losses small as if you set your stop losses too large you can burn too much of your bankroll and that will mean you will than not have enough funds to recover potentially adverse situations.

Top Trading Strategy CryptocurrencyWhat are the Best Strategy Tips for trading success?

Surely there is a way to earn a living by buying and selling using online brokers and online trading platforms. It is easy? Obviously not but with the right set of mind and training you will get there. The most important thing is that you need to find a strategy that will fit your specific trading style and than stick with it. It is also key to have a profit target when you are starting a trade: this will take emotion away and will help you with the risk to reward ratio. By using this consistently you will be able to find the best time to exit a trade to minimise losses and increase gains.
Surely trading for a living is not going to be easy despite it is possible. The best way would be to start trading while you still have a fixed income as a backup. This will allow you to trade with a lot less stress and it can be an excellent additional source of revenue. Eventually when you will be able to find your way you can than earn a living by trading online.
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Having a reliable risk management methods will help you to avoid disappointments down the line: trading online is risky so you should only get to the level of risk that you are comfortable with depending on your personal situation.
You should always test your trading strategies before risking your own money: the best online brokers do offer demo accounts that will allow you to familiarise with the tools and also to try out some of your strategies to evaluate the performance before risking real cash.
Trading strategies that use specific trade entries and use a reliable risk management methods will help you on your way to having an excellent person finance plan. The level of risk that you will be using should be comfortable for you, and we recommend contacting a financial advisor to help you with your situation. Also you should always use an online trading platform that uses many resistance levels so that you will get a better view of how the market tend to react in different situation. Looking at the statistics we can say that Swing traders (also called position trading) are the ones that have the best success when starting out to find the best trading strategy to make a living so you might want to get an education in that area to start with. Below you will find an infographic that gives a very good idea of how you can earn a living with the right trading strategy!

Conclusion

There are many different ways and trading strategies that can give you financial freedom: it is not an easy journey but surely it can be achieved. The most important thing to remember tough is that unfortunately one solution doesn’t fit all and ultimately you will only be successful if you are able to build a custom strategy that fits your style and your circumstances. This also mean testing and finding the right online broker and the trading platforms that best adapt to your goals. Once you have find it you have to stick with your custom made trading strategy and ride it long term to achieve your goal of financial freedom.
What is the best trading strategy for you