Click here for Post Seven of ‘What Trading Really Is’ Series
Everyone needs to find the time of day that is best for them be it emotionally, time restraints,
or alertness (when you are not tired of fatigued). Once you find that magic time for you then
build your trading around your schedule not what works for others.
Once you have the time to trade, decide which style of forex trader you will be. Day trading, swing trading,
position trading. This will take some looking into, your emotions and personality, for sure.
Once you have figured this out the time frames you will trade will be obvious. For day trading
use small time frames, (5 minute and 15 minute) for the longer time trades (swing or position)
use the larger time frames (1hr or 4hr or larger).
Now only take trades in the direction of the trend. These trades have to have good confirming
signals. If you do this you will only be taking a few trades a day or even a few trades every
couple of days.
By being very selective on the trades you take you will trade less and have more successful
trades. Tomorrow is always another trading day. Do not think you have to trade 40 hours a week ,
just the good hours for you. If you do this you will probably make more and do less in teh prdocess.