A few comments of caution w/re to mid-long term positions....
not sure exactly what your def of mid-long range is?...but if it's under a few days than for the most part you can disregard the following...lol
Unless you are using fairly wide stop losses & or have an ample bankroll so as to cushion any severe swings against you, this type of trading strat can easily & quickly wipe we lil fish out in a hurry. I suppose the other thing is that if you are able to pull the trigger fairly close to absolute tops & or bottoms (long or short plays).
For we lil fish who tend to be capital 'challenged' (as I like to call it) short term plays w/tight stop losses are safest....nothing more than a few days....after that the odds tend to go against you.....& especially if you're payin daily rollover fees as most brokerages charge these days..that can quickly add up if the trade goes against you for several days.
I've found that the safest plays (especially for those who are new to this exchange...like me) are those that run no more than a day or 2 at the most...that's my def of mid-long term for this exchange. Preferrably trades that are open for a few hrs tops are the one's that prove to be most beneficial...ie less long term exposure = lower risk...which of course = lower rewards for the most part as well....but in this mrkt, lower rewards can prove to be very rewarding....if ya get my dirft..lol Fast turns are the way to go here IMO.
I just hate to see folks have bad 4x experiences right out of the gates....& making matters worse is folks who begin w/high leverage & low opening acct balances.....under 10K. Best thing to do (as JRB told me several months ago) is to begin w/the lowest possible leverage & take very small positions & get out as soon as your trade shows a lil green. Build your confidence slowly (hopefully you'll have none at the beginning....otherwise you could be in for a heep of trouble...lol) & never let it get to your head....cuz then folks tend to think "this is easy" & begin to take larger positions (& increase their leverage as well) & all of the sudden....KABOOM!!! the acct is wiped-out in 1 trade & faster than you can say '4executed' :0
JRB also told me that 10K should be an ample amt to begin with...tho a lil on the low side (which is why I used that figure above as a beg balance) as long as the leverage is low & your positions are relatively small you should be able to remain in the game & thus hopefully build the acct slowly over time.
& note my disclaimer....bein the newbie of sorts (to this exchange) that I still consider myself to be....by all means, if there are any 4x vets out there who disagree & feel that I'm blowin smoke w/anythnig that I've said here....pls chime in & set me straight....TIA!!
BOLTY Max!!
Cheers!!
Worn
