What is your favorite time frame? When you finally decide on your preferred time frame, that’s when the fun begins!
SHORT-TERM (SWING) PERSPECTIVE: "Earning assets with trades. Looking to sell near the top to buy near the bottom.". Short-term traders use hourly time frames and hold trades for several hours to a week. ADVANTAGE: More opportunities for trades. Less chance of losing months. DIFFICULT: HARD - The smaller the time frame, the greater the difficulty. Study the market daily and be prepared for the worst.
MEDIUM-TERM Mix of shorts and longs. It's my favorite.
LONG-TERM Trades usually from a few weeks to many months, sometimes years. PERSPECTIVE: "Buy and to forget and when it falls, buy more." ADVANTAGE: Don’t have to watch the markets intraday.Fewer transactions mean fewer times to pay the spread. More time to think through each trade. DIFFICULT: EASY - With cash in reserve to take advantage of opportunities, it's easy.