How to Trade Forex in Under 30 Minutes A Day

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#575: How to Trade Forex in Under 30 Minutes A Day

In this video:

00:24 – Trading in 30 minutes or less per day.

01:20 – New traders think they need to be taking trades all of the time.

02:30 – Less is more.

03:18 – My 2 preferred trading times.

04:18 – We use limit orders to place trades.

05:00 – Some clients just trade once a week.

05:40 - 17 minutes Masterclass and Book a Call.

06:11 – Blueberry Markets as a Forex Broker.

06:32 – Enjoy your trading.

07:31  – Comments, Like & Subscribe.

How do you trade in less than 30 minutes a day? Is it possible and is it realistic? Let's talk about that a more right now.

Hey there, Traders! Andrew Mitchem here at the Forex Trading Coach with video and podcast number 575.

Trading in 30 minutes or less per day.

I quite often get asked the question, look Andrew, you say that you trade in 30 minutes or less per day. How do you realistically do that and can you do that as a new trader? You see you know, the answer is yes, you can.

Of course. That's why we say so. But the problem that I find is so many new people to trading and look I did the same, you know, myself 20 plus years ago. The issue that people have is they feel that they should be looking at, taking trades all the time. And as a result of that, the fun, the excitement, the, you know, the movement, is often seen on the very short timeframe charts such as, like one minute charts, five minute charts, 15 minute charts, and people feel that they need to be looking at those because that's how they accumulate, trades and pips. People still mistakenly count their success in pips, which of course is completely the wrong thing to do.

New traders think they need to be taking trades all of the time.

And so when people start out, they think that they need to take lots of little trades. The realization comes when you realize that you're just not making money from that. One the cost of the spread just gets in the way pretty much on almost every trade you take on the forex market and, you know, just eats into any profit.

Reward to risk is very hard to achieve or a good reward to risk. And also just realistically, you tend to find that a lot of people will sit down. They see a trade, or they think they see a trade because they're ready. And so they're taking far too many trades there, forcing trades because they're sitting that.

And the other realization is that it's actually not very enjoyable when you're spending so much time looking at the charts, flicking through charts, getting very stressed when trades are open because you're watching, like, small moves up and down, you know, going into profit, then you trade goes against you. Oh my goodness, I need to close it early and you start doing all these sort of crazy, rash, things without, you know, decisions without really a lot of thought or planning behind it.

Less is more.

So for me, the answer is less is more. I've been a fan of longer time frame charts. Now, it doesn't mean to say I don't look short a time frame. When I hold webinars for my clients, I look at one hour charts, etc. two hours, sometimes 30 minutes, but not very often. But 90% of my trading is done on the longer timeframe charts of like, six hour, eight hour, 12 hour, daily, weekly, monthly.

And you'll find that those are a lot more enjoyable, are a lot more, reliability within the candles as well, within the charts. Reward risk is easier. Spread becomes you know, almost insignificant on so many of those pairs when you're on a daily, weekly and monthly timeframe charts. So that becomes better, becomes more reliable.

My 2 preferred trading times.

Now,