Trading Full Time in 30 Minutes a Day
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#532: Trading Full Time in 30 Minutes a Day
In this video:
00:31 – At the beach and trading just twice a day.
01:04 – 2 trades taken on the D1 charts and 1x H8 and 1x H12 trade.
02:10 – Look at the charts twice a day.
02:46 – A 3% gain from Wednesday’s D1 trades.
05:18 – View my Masterclass.
05:30 – Book a call with us.
05:39 – Blueberry Markets.
In today’s video and podcast, I’m going to explain why I much prefer trading the longer timeframe charts. Looking at my charts a couple of times a day and being able to enjoy life. So let’s talk about that more right now.
Hey, the traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 533. Something a little bit different today.
At the beach and trading just twice a day.
I’m at the beach. This is called Rabbit Island, just out of Nelson. Now, way back there somewhere, my daughter and her friends on their horses going for a ride. Why am I telling you this? Well. Because that’s the beauty of trading. The longer timeframe charts. You know, I don’t need to be sat at home right now, sitting on my computer, just glued to say, like five minute charts, 15 minute charts, just waiting for something to happen, almost forcing something to happen. Because that’s when I’m ready.
2 trades taken on the D1 charts and 1x H8 and 1x H12 trade.
Instead, I took two trades today on the daily charts. I took a sell on the Pound/Franc and I sell on the US/Franc and I’ll take in a buy trade on the Pound/New Zealand and a buy trade on the Euro/New Zealand on the 8 and 12 hour charts.
So four trades, they took me maybe 15 minutes all up earlier today at the 5 p.m. New York change of day to look at my charts, put the trades on after six because that’s when the spreads drop. I’m using limit orders anyway, so it doesn’t matter where you live in the world or what your time schedule is, you can take those trades and that then frees me up for the rest of the day.
I’m going to have a look at later tonight my time, which is then 5 a.m. New York time, and at that time I’ll scan through the 12 hours, the 6 hours, maybe the 4 or the 2It has nothing happening on the higher timeframe charts, but most days we tend to stick to the 6 and 12 hour charts. Why? Well, because there’s plenty of opportunities there.
Look at the charts twice a day.
And so what that means is by looking at my charts just twice a day, I can come and do things like this. I’m probably spending half an hour, absolute max chart time. I know the pattern, so I’m looking for the currency pairs. Well, I’d look at strength and weakness, but if the currency pair is showing the setup to me, it doesn’t really matter what the pair is.
Just because I live here in beautiful New Zealand does not mean I wouldn’t need to trade the New Zealand dollar. I’ll trade whatever showing the set ups as mentioned today. Pound/Franc, US/Franc both selling those two on the daily charts.
A 3% gain from Wednesday’s D1 trades.
Yesterday I took a Euro/New Zealand Daily chart trade and I took the Hong Kong 50 index and the China H index.
Quite unusual, but that was the market or those were the markets that were showing the setups. And guess what? The set worked. We had our retracement all this filled up beautifully and by the time I woke up this morning at the both trades to pull back, there were buy trades. Both traders said pull back got filled absolutely perfectly.
And then turned around going up to the profit target. Absolutely perfectly. So we got those trades, absolutely pinpoint, accurate and made some fantastic returns on those. They were about I think there are 2.8 to 1 return. I think one might have been 3 to 1 return. And so a small risk, you know, if you’re putting half percent on that, you’re making, you know, one and a half percent roughly on a trade and risking only half of 1%.
So for those of you out there who are on prop firms, that’s exactly what you need. In order to pass prop firms, you don’t need hundreds and hundreds of trades. You don’t need to be spending a fortune in spread fees. You don’t need to be gluing charts all day. What you need is quality, quality over quantity will win all the time.
You need low risk controlled risk, low drawdowns and high reward to risk trades. That’s what we do. That’s why we’re successful. That’s why we continue to be successful, both now in the past and in the future because of price action based. The strategy works across different timeframes. Exactly like I mentioned, you know, with those 12 hours, 8 hours, 12 hours and dailies, different markets, exactly like today’s daily charts on the forex pairs, like yesterday’s daily trades on the indices.
So if you’d like to find out more about how you can do something like this and get your life back, but also trade and enjoy trading, but enjoy other things as well as trading, that’s what keeps us fresh each day. That’s why we love doing what we do. You know, most people hate Monday mornings. We love it because we’re back into trading again.
But we get that decent break, you know, day by day. We’re not sitting there sitting at your charts, absolutely fed up by this glued to your screens, which most people unfortunately do, and takes the emotion out of your trading. It increases the enjoyment.
View my Masterclass.
So if you’ve not been on my free masterclass yet, really encourage you to do that, click on the link that I’ll put here. You can jump onto a one hour prerecorded masterclass tells you all about how we trade, how we teach, how we can help you.
Book a call with us.
If you’d like to book a call with myself or one of my team, you can do that. I’ll put the link here as well. You can also do that after watching the masterclass.
Blueberry Markets.
If you’re out there looking for a really good broker, I can highly recommend Blueberry Markets. The base over there, way over that water over into Australia, great bunch of people. And we have hundreds, if not thousands of our clients trade through blueberry and and you never hear problems. They’re just good people, good platform, good brokerage, honesty, everything that you’re looking for in a broker.
So that’s it. I’m going to turnaround now. Off somewhere up here and find my daughter and her mate.
Hopefully they’re still on top of the horse and not on the ground. Otherwise I’m off to hospital, but hopefully not. Fingers crossed I see this time next week. Bye for now.
Episode Title: #533: Trading Full Time in 30 Minutes a Day
Signup For my Forex Masterclass
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
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