Hi EliteTrader members, I am a beginner wanting to get into swing trading. I currently hold a full time job in Toronto, so I cannot trade the North American markets during work.
So I am thinking is it a good idea to trade the Hang Seng markets after work? They open a few hrs after I finish work.
Thanks in advance for any advice,
First, get your advice elsewhere. There are no successful traders here. I come here once in a while to entertain myself, and I actually trade worse afterwords.
Second, swing trading may be too short of a time frame for what you need. Try using 60 minute time bars, nothing shorter than that, and get a broker service that can set up OTO (One Triggers Other) orders. Then you can set up the order to buy at a limit price. And, when it is triggered, the order to sell at a lower limit price will activate.
Do all the set-ups after market hours and make adjustments to the order Sunday through Thursday at your convenience. It'll take 15 minutes per day.
With a good system, expect each trade to last 2 to 3 weeks on average, with a 3 to 5% return per month.