If you’re looking for various HQbroker Online Trading Review strategies, you probably have heard the term End-of- day (EOD) trading. If you haven’t heard of it, it’s a strategy that lets you check the daily charts’ closing prices.
EOD trading is a great strategy that offers excellent Online Trading Bonus but won’t let you sit at a screen all day, trying to catch a big move on every swing, or catch a trade during your day job. It’s a strategy that lets you enjoy your lifestyle while still trading the markets. These are just the few of the many benefits of End-of- day Trading.
As there are so much trading styles and strategies out there, you have to choose which is suitable for your personality and time.
EOD trading is more suitable for people who can’t leave their day job. It’s also for people who have various life commitments, such as studying or being a stay-at- home parent.
If you want to apply EOD trading, here are some benefits you’ll be able enjoy when trading.
Keep your current job
The greatest benefit of EOD trading is that you only have to trade in minutes a day, and even at your spare time. There’s no need to burn your eyes in front of the screen the whole day, as you only have to look at the daily chart once a day. EOD trading lets you become a full-time trader, even if you have a full- time job.
The common mistake for traders who watch the market throughout the day is overtrading. Constant monitoring of markets causes traders to over-analyze, and letting their emotions take over. EOD trading gives you the advantage of setting a trade and walking away. Your money will work for you, while you’re earning from your other sources of income, such as your day job.
You can spend the time in trading as you please. You don’t have to attend your trades until the next day. You can go to the gym, to the beach, or spend the day with your family. You can save 30 hours of your life for other things.
Unlike day traders, EOD traders place trades, put the mouse down and walk away from the screen. In day trading, trading on smaller timeframes is experienced by a beginner. It’s one of the most stressful parts in trading. Every movement on the chart represents an emotion in the markets, while every emotion came from greed, fear, and the smaller timeframe traded.
If you’re trading EOD, you can reach a much better return for the reduced time spent trading. This is especially true with EOD trading compared to the hours spent by day traders.
For example, trader A and trader B both achieved 10% return on their capital from trading by the end of the month. Trader A is a day trader and spends 3 hours every morning, while trader B is an EOD trader and spends only 15 minutes every evening.
Trader A has spent 66 hours to achieve the 10% return, while trader B spent only 5-1/2 hours to get the same result. See the massive difference?
There are still numerous benefits you can enjoy with EOD. You’ll be surprised how many more benefits EOD offers. The best thing about EOD is that you don’t have to quit your full-time job and limit your time for trading. You have all the time you need, and it’s up to you on how you can become successful in forex trading. You can call your broker to help you further and learn more about this trading strategy.