It's really nice to be able to trade forex and have a life too. You know, I hate being glued to the screen; I just can't do it. So, I developed a way to trading in just 10 minutes a day.
It's nothing revolutionary, and it combines nicely with my philosophy that brokers eat scalpers. Here's what I do.
1) Open daily charts for each of the currencies that I want to trade. Let's say I want to trade the four majors and USD/CAN. So I open up those five charts.
2) Next I setup the indicators that I want on each chart.
3) Then I save everything as a template. That way when I open my charting program, it's all there. I don't have to re-open the currencies. I don't have to put the indicators back on there. It's all ready to go.
4) Then just once a day (usually in the evening) I open my charting package and tab through the charts. It' only takes a simple glance to see if there is a trade developing. If there's a trading, I enter it.
5) That's it!
I've also does this setup with the 4 hour charts. The only difference is that I check the charts more that once per day (maybe three times).
People wiser than I have said that the easiest money in forex is on the daily. If you've been scalping, you might want to crossover and have a look that this style of trading. (It's also far less stressful that other forms of trading.)
Do you want to learn more about how I trade? I have just completed my brand new guide, "Forex Trading - What Finally Worked For Me".
Download it free here: Forex Trading
Nathan Pennington is a forex trader and the author of Winning Forex Trading -THE Definitive Guide
Source: www.articlecity.com
