2 sure ways to profit in Forex, do you know more?
There are 2 sure ways known to me that can make your fortune in Forex – scalping (using 1 min & 5 min charts) and position trading (using 4 hour, daily and weekly charts). Other trading approaches and time frames often bring little to no success in the long term. Intra-day trading with 1 hour, 30, 15 and even 5 minutes sometimes is going to wipe you out mentally, first of all, and after that will take on wiping your account, if not immediately then after 4-6 month of trading anyway.
Not only those time frames are a pain to watch during the day, they are producing a lot of mixed results. I’ve even heard someone saying that they are random! Well, they are not, that’s for sure, but they do contain so much price noise that you’ll lose your hearing (not literally, of course, but you’ll stop hearing your rational voice that is needed to take right trading decisions) and your trading rules, no matter how good they are, will fail, and fail, and fail time after time until you are sick of your trading which moves you nowhere or, even worse, loses your money.
Hey, you would say, I make money with those charts. Ha, I would say, do you make a lot? So much that your time spent trading worth it? Wouldn’t you make more money doing something else?
But if you want some consolation for your soul, there it is:
Forex Brokers Love You!!!
Hahahah… uhhh… that’s so funny and so true! :)))
Oh, uh, let me laugh at you one more minute while you are trying to figure out what I meant by that.
Forex brokers love their intra-day traders, because those make the most of broker’s profits. They trade frequently and, what’s so delightful, they lose frequently. What a blessing for a broker!
I’m leaving you to think about it, why Forex brokers love their intra-day traders.
See you next time when we talk about scalping and position trading – 2 ways that won’t let you down.
**Forex Dark Lord**
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When would you be posting your article on scalping and position trading ?
Good question.
Thank you for reminding, I totally forgot about this.
I’ll work on it in the upcoming month or two. Do you have any specific requests about those topics?
Awesome post! I’ve experienced the pure hell and torment of trading in the lower time frames, thankfully, it was just demo trading. Most of my success has come from short term and long term trading…not to mention, it is less stressful!
Your blog is refreshing, because it validates many of the stupid mistakes I’ve made. Keep up the great work with your posts!
Hi Forex Lord :
Looking forward to your post on scalping on the 4-hour chart . I used 50 EMA for my entry signals but had limited success with them.
Hi FX Lord,
Nice Website, looks quite dark indeed but the info, topics and lessons are simply bright yet simple to follow even for an FX newbie (trading on demo account for 3 month).
Pity I didn’t come across your website 3 months earlier…it would have saved me money spend on useless FX systems, robots…(2 bought but one fully refunded…) But I’ve started to “dig deeper’ (which made me come across your website…:-)
I’ve read it all (one time…:-)…and will come back regularly to refresh my memory…and follow your next lessons and posts…especially the 4H chart…
Thanks and keep up the godd work my Lord !
Not totally agree…trader must master the small time frame after they can go much bigger time frame…
small time frame means less pips and very low risk…I have try this small time frame and stick with it…better less pips than nothing…
see other time frames before make any decision to buy or sell…thats will help
Here is my first post on scalping:
http://forexdarkside.com/forex-scalping-a-sure-way-to-profit