A Ten-Minute Per Day Trading Schedule

Filed under: Learn Forex Trading |

Picture 3If you have always thought about getting involved in forex trading but feel that you do not have the time because of other responsibilities – you are wrong! Today, I will tell you how to create a very manageable ten-minute per day trading schedule.

 

All you will need for this trading schedule is to be able to give up ten minutes of your time at 10 pm every night. If you cannot do that much, then you really have no right being involved in the forex markets at all.

 

What you will be looking at during the ten-minute window at 10 pm (UK time, when a new daily candle forms), are the daily forex charts of your choice. I personally look at eleven forex pairs (on the USD/CHF, GBP/USD, USD/JPY, AUD/USD, EUR/USD, NZD/USD, AUD/JPY. EUR/JPY, GBP/JPY, and gold and silver), but you can look at more or less then this if you wish. The important thing is to have all of these charts open and ready for viewing on your MT4 or MT5 platform on the daily charts.

 

What you are looking for is any price action signals at significant areas of support/resistance, preferably in the direction of the recent trend. If you do find any such occurrences, put an order in at a 50% retracement of the price action signal, with a stop loss just a few pips beyond the high or low of the move, with a target of at least two times your risk. It is that easy! Spend ten minutes doing this. If there are any setups, put the orders in – if not, leave it and come back the next day. That is less than an hour per week, and just over three and a half hours per month. And what is possible from such a low investment of your time? Well, with a bank of say $10,000, at best you could double your bank, or a modest effort could give you 20-30% returns ($2000-$3000). Not bad for ten minutes per day!!

0 Responses to A Ten-Minute Per Day Trading Schedule

  1. Hello
    Thanks for info am a newbie and a few examples of charts would help me under stand what you are explaining

    Thanks Stephen

    stephen woollon
    January 1, 2013 at 4:16 pm
    Reply

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