The following evening I held that a webinar concerning trading Forex on large timeframes. Below you’ll locate the training together side alot of additional details on large timeframe trading.
High-maintenance trading SUCKS. It’s always trying, and it generates people – AND ME – feel uneasy, nervous, also hurried.
How do you learn how to trade, and on occasion even trade smoothly, if trading is trying as well as your graphs require nearly constant oversight?
You are able to ‘t.
That’s why I prefer a low-maintenance approach to trading. And that is why I trade large time frame charts:
How to Trade Forex Low-Maintenance (while still making consistent benefits )
Before you keep reading this article, and before you commit to watching the six hours of videos beneath, you need to ask yourself a question.
. . .Why should I trade low-maintenance and do I really want to?
Low-maintenance trading is for people who DON’T wish to – or may ‘t – spend several hours per day monitoring their charts.
My trading plan is designed so that you can trade effectively with as little as thirty minutes per day chart-time.
Thirty minutes… how is that possible?
That’s where large time frames come in.
When I say “sizable time period graphs “, I mean four hour, six hour, eight hour, twelve hour, and daily charts. Trading these time frames allows you to separation your day up into two to three parts.
Splitting up your trading day
On five minute charts, trades can form, trigger, and be over in just in ten minutes. Which means you need to monitor your charts almost constantly.
And you need to rush into trades.
On eight hour charts trades unfold in slow-motion. It takes a minimum of sixteen hours for a trade to form, trigger, and hit its target.
For you, this means that you can fit trading around your life.
You only need to check your charts three times per day to catch trades that form on the eight hour chart.
GBP/USD 8hr amount action reversal trade taken over 24 hours.
The chart above shows a recent trade using my amount action plan on the eight hour GPB/USD chart.
This trade could have been spotted, and taken, even if you only checked your charts a few minutes every eight hours.
- 8:00 am – You check your chart and you see a strong bearish candle heading into support.
- 4:00 pm – You check your chart and see indecision forming. You know amount may reverse so you set an entry order, a stop, and a target.
- 12:00 am – You check again and you see a second indecision candle has locked. You pull your entry order down and adjust your stop and target.
- 8:00 am – You check your chart and your before all else target is hit or almost hit.
Not all trades play out this simply. However, you can see that at no time where you rushed into the trade. You had around sixteen hours to plan this trade.
This is low-maintenance Forex trading.
The video beneath is a recording of my recent webinar. In the webinar I show you several other recent low-maintenance trade examples. I also answer a lot of questions about my plan.
My Price Action Forex Trading Strategy
Now that you understand low-maintenance trading, you need to learn how to trade amount action in Forex.
In March 2014 I held three webinars over the course of three days. In the webinars I covered my amount action trading plan in great detail.
Price Action Strategy – Candlestick Analysis
The before all else step to learning amount action in Forex is candlestick analysis. This is nothing like that basic list of candlestick patterns you have probably seen on hundreds of websites. In the webinar beneath I teach you advanced candlestick analysis.
Price Action Strategy – Support and Resistance Areas
The next step to learning amount action is support and resistance. In the webinar I show you how I identify and place support and resistance areas. This way you can know ahead of time where buyers and sellers will enter the marketplace.
Now that you know how to place support and resistance, go and place them. After you do that, compare your areas to my support and resistance areas.
Price Action Strategy – Trading Reversals
The final step in learning amount action is learning to use candlestick analysis and support and resistance together to take reversal trades. In the webinar beneath I show you how I trade reversals.
What do you think of low-maintenance trading?
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