Too Busy to Trade? Try This Weekly Strategy

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#617: Too Busy to Trade? Try This Weekly Strategy

In this video:
00:31 – Do you lack the time to trade?
01:50 – How to trade without taking up too much time.
02:08 – GBP/HKD W1 chart with a 4.8:1 Reward:Risk.
03:27 – My first ever client trades only Weekly charts.
04:33 – Look at the charts just once a week.
05:18 – It’s all about knowing what to look for.
05:41 – Book a call with us.
06:04 – 30 minutes Masterclass.
06:25 – Blueberry Markets as a Forex Broker.
07:04 – Like, Share and Subscribe

Do you think that you’re too busy to trade? If that’s you, I’ve got a great solution for you. This is something that my very first client from back in 2009 has done since then, whilst running his very successful business. Let’s get into that and more right now.

Hey there, Traders! It’s Andrew Mitchem here at The Forex Trading Coach with video and podcast number 617.

Do you lack the time to trade?

So a common problem that so many people face is they think they are too busy to trade. And it’s fair enough because you see out there online, you know, examples on various platforms, YouTube, etc. of people looking at charts and looking at 5 minute charts and watching every pip move up and down.

And you look at that and you think, well, realistically, how on earth can I copy that process? Because I’m just too busy. I’ve got, you know, work, businesses, family, hobbies, whatever it might be going on in your life. And there’s no way that you are going to be able to afford that time to sit there, either to want to do it or to be able to do it, to sit there watching charts, ready to take little trades every now and then.

It’s just not realistic. And of course, many people wake up to that fact and they go, well, looks good and maybe in hindsight, but I just realistically cannot dedicate time to doing this. And even if you could, do I really want to sit there just staring at charts, watching 5 minute charts and 15 minute charts, just waiting for that signal to occur?

Probably not, because it’s not realistic and it’s not something you’re going to enjoy and continue to be able to do or want to do long term. So everybody’s got busy lives. I get that.

How to trade without taking up too much time.

So what can you do to still become a good trader, but to not take up all day? And the very simple solution is you can look at the longer time frame charts such as the weekly charts. Now, just this week, right now is the absolute perfect example.

GBP/HKD W1 chart with a 4.8:1 Reward:Risk.

At the beginning of this week, we suggested a buy trade to our clients on the GBP/HKD. Now you go and have a look at your weekly charts for the beginning of this week. Go on to the pound Hong Kong dollar and you’ll see the candle setup that I’m taking now.

Right now as I’m recording this, the trade has not reached a profit target. But it’s very, very close. It’s only like ten pips away right now. If it hits the full profit target, which it’s almost certainly going to do, especially by the time you watch this and listen to this, the trade’s going to make a massive 4.8 to 1 reward to risk.

So if you imagine that at the beginning of this week you saw that trade and you placed, let’s say, a 1% risk on that trade, that’s going to make you an incredible 4.8% gain on your account on the one trade in one week by taking literally, what, ten minutes to scan through the charts, if that, just at the beginning of the week.

If you took a half percent risk, that’s going to make you a 2.4%, not a bad gain in one week from a trade that took you like five or ten seconds to actually place, and then you’ve forgotten about it. No more chart watching. You just put the trade on, put your stop loss on, put your profit target on and let the trade do its thing.

Let the market do its thing. Now that is a solution for you if you’re short on time.

My first ever client trades only Weekly charts.

Now, my very first client, and he was the instigator in starting The Forex Trading Coach because he used to buy trading signals from me. And he said, look, Andrew, would you fly across to Australia to come and teach me? And I spent about four or five days with this guy and his family back in 2009, and that is how I started the coaching.

And he was just thrilled with the system and thrilled with everything I taught him. And to this day, he is still trading. Now this guy owns a number of restaurants, very high end quality restaurants in Noosa in Australia. And he traded back then the weekly charts and to today he continues to trade just the weekly charts because for him he can have a look at his charts once a week early morning Monday morning in Australia.

Or he can, you know, have a few minutes over the weekend because the forex markets are shut of course. And he can have a look through the weekly charts. And by the time the markets open, he can place trades exactly like we’ve just placed on the GBP/HKD.

And for the rest of the week, he’s out there running his restaurants and managing staff and happy customers, etc.

Look at the charts just once a week.

And so that is a very good solution because the weekly charts, of course you need to look just once a week, the quality of the chart trade setups is very, very good. You don’t have to worry about news events or anything like that.

Put the trade on, leave the trade to do its thing. Have a look at the end of the week. Do I leave the trade open over the weekend if it’s still going, or do I close it if it’s not already hit the stop loss or profit target? So a great solution for people who maybe are traveling, who have got to run businesses, just too busy to look at charts.

Once you understand what you’re doing, you can place trades like the GBP/HKD weekly chart trade and end up, let’s say, with a 1% risk and a 4.8% account gain. Try doing that on many other markets and something that’s taking you such a short amount of time.

It’s all about knowing what to look for.

However, the key to all of this is not how little time you’re going to trade. The key is knowing what to look for. And so the only way you’re going to do that is to spend just a little bit of time upfront and learn to dedicate a bit of time to your knowledge and your education so you have the ability to see these type of trades and to take these type of trades.

Book a call with us.

Now two things you can do. One, if you’d like to book a call with either myself or the team, I’m going to put a link to our booking account. We have opened up more available time slots, so it’s available to anybody, anywhere around the world. We can give you a call on your home phone number or mobile and have a chat about how we can help you with the trading or see if we can help you with the trading, if it’s going to be a good fit or not.

30 minutes Masterclass.

And the other thing you can do is have a look at my 30 minute On Demand masterclass, where I explain all about trades exactly like that GBP/HKD. Show you some trades on the charts of what we’re doing, how we trade, using limit orders, all those type of things that we do in keeping risk low per trade, and of course not spending much time on the charts each day.

Blueberry Markets as a Forex Broker.

Now, the other thing you can do and do yourself a favor if you’re out there looking for a good broker, is have a look at Blueberry Markets. They offer the MT4 and especially the MT5 trading platform. So you might find some brokers don’t offer markets like the GBP/HKD. But Blueberry Markets on the MT5 platform do.

And that’s the beauty of it. You can look for the candle pattern and the chart pattern that is showing you the best setup. It doesn’t matter whether you have any interest in the GBP or the HKD. It doesn’t matter if the technical trade setup is there. See the trade. Take the trade. Profit from the trade. Enjoy your trading.

Spend a few minutes once a week on the weekly charts. You’ll find they’re incredibly good. I hope that helps.

Like, Share and Subscribe

Any questions? Please feel free to reach out. Ask me directly Andrew@TheForexTradingCoach.com

If you’re watching, don’t forget to like and subscribe if you’re on YouTube or other social media platforms. And I hope that helps.

For anybody that wants to look to trade properly and who feels that they don’t have a ton of time to dedicate to their trading on a daily basis, it’s a great solution. It’s profitable, it’s enjoyable. It’s something you can do just once a week and still trade the markets properly. This is Andrew Mitchem here at The Forex Trading Coach.

I’ll see you this time next week. Bye for now.

Episode Title: #617: Too Busy to Trade? Try This Weekly Strategy

Find out more about Blueberry Markets – Click Here

Find out more about my Online Video Forex Course

Book a Call with Andrew or one of his team now

Click Here to Attend my Free Masterclass

Podcast: Play in new window | Download

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