Sunday 16 October 2011

How to trade forex if you are busy

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How to trade forex if
you are busy


Dear Subscriber,

No time for forex?

Come off it.

It's just a question of finding a way to trade that fits into your schedule.

I'm not talking about working longer hours than you already do, either.

Busy people can still trade forex.

And I'll prove it to you by setting you a challenge...

If you're like me, at 10pm every night you sit in front of TV for the 10 o'clock news.

Slouching on the sofa, getting all depressed before bedtime, hearing the news stories repeated over and over again.

At least that's what I used to do.

Not anymore.

Thanks to this.

You see, all I do now is listen to the headlines for a minute, then turn my TV off and take direct action...

Because 10pm is a significant time in the world of forex.

It's 5pm New York time. And this is the end of the main trading day in the US financial markets.

It's also the daily close for world forex markets.

Yes, you're right: forex markets don't actually close - they're 24 hour markets on weekdays - but 5pm New York time is usually a time when markets go quiet.

It's like the end of one forex trading day, and when the next trading day starts.

That's why it's such a good time to check the forex charts for trading opportunities.

Why 10pm is a key time
for forex profits


So, here's the challenge...

Instead of depressing yourself with the 10 o'clock news, do something constructive instead.

When you know what to look for, you can scan the major markets and place trade orders well before the end of the news.

10 minutes is about right. You can then leave the world of forex until you hear Big Ben chime the next evening.

That's right 10 minutes at 10 o'clock is all you may need.

I know what you are thinking. How can this possible?

Well, you see it all depends on the timeframe you trade.

Some people trade very short timeframes and watch 5 minute candle stick charts.

This means they have to watch their screen all day or at least for a few hours at a time.

Other people may trade based on 1 hour candlesticks. They have to check the chart at least once every hour.

But if you trade based on daily candle sticks charts, you only have to check the charts once every 24 hours.

And I find the best time to do this is 10pm London time.

Plus if you fix this time to do this, it'll become a new habit and you'll be more likely to stick to it.

Just like watching the 10 o'clock news is a habit, instead you can shake that off and turn on your laptop for a few minutes instead.

Sure your family will think you have gone nuts at first, but it's worth it - you're taking action for your future.

Plus, you may feel better, not depressing yourself with all that bad news just before bed too.

Especially when you could turn on your laptop and see the profit you've made.

Fancy taking the challenge and trying this for yourself?

Well, get in on the action here.

Best wishes,



Richard Hill
Editor
Forex Round-Up

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