Decide what will be the core technical parts of your trading system. With the above in mind, the next thing you should decide is what you will include in your trading system from the technical point of view to help you win as many trades as possible. Build your trading system and trade on the 4h/daily charts until you start to add to your account consistently. Nevertheless, as I said before, if you are a beginner trader, and you probably are, I strongly recommend that you develop your trading system around a higher time frame like the 4 hours or the daily.įorget about day trading for a while. Always seek to trade on the higher time frame. Moreover, when you do decide to day trade, consider it as a backup trading style, day trade only when there are no trade setups according to your system on the higher time frames. Even after you get more experienced by trading successfully on the higher time frames and you think you are ready to day trade, my advice is do not trade on any interval smaller than the 30 minutes.
Not to mention that trading this way makes you vulnerable against economic news events that come out multiple times per day and usually have a big impact on the small time frames. Trading on small time frames carries high risk due to short-term random moves that are almost impossible to predict.
If you are a beginner in trading, it is best for you not to day trade until you gain experience. It is easier to trade this way and it will make you much more money in the long term. Minutes time frame or do you think that trading on a higher time frame will suit you better? My advice to you is very simple and clear: always seek to trade on the higher time frames. Do you want to sit in front of the computer the whole day entering and closing trades on the 5
50 PIPS A DAY FOREX STRATEGY PDF DOWNLOAD DOWNLOAD
Download link: At the end of the article Introduction- 50 Pips A Day Forex Strategy PDFīefore you start to construct your trading system, you must first think about what is the trading style that suits you better.