How To Trade The Daily Chart In Forex (from a pro trader!)
In episode 208 of the Desire To Trade Podcast, I sit down for a 2nd time with The Lazy Trader to discuss how he is trading daily charts in the Forex market.
The Lazy Trader trades exclusively on the daily and weekly time frames. His goal is to have the life he desires first.
Are you ready for it?
In This Episode, You'll Learn…
- Who is The Lazy Trader and what he does 01:00
- The importance of using higher timeframe charts for freedom 02:09
- What are the steps to start trading the higher timeframes 04:08
- How can someone trading the weekly chart be more profitable than someone trading intraday 06:28
- How to handle the small number of trades that one takes with a weekly timeframe trading 11:10
- Why The Lazy Trader would use the same strategies on the higher and lower timeframes 13:27
- Sponsor: Soft4FX (manual backtesting software for MT4) 16:38
- How The Lazy Trader uses scaling into trades to for increased profits 17:48
- What type of patterns The Lazy Trader trades 19:29
- Moving you SL vs scaling out of a trade 21:20
- How to use your “free” time obtained from trading the weekly charts 22:54
- Why The Lazy Trader doesn't trade penny stocks 25:16
- How to more easily understand major Support/Resistance areas in charts 27:24
- What are The Lazy Trader's students biggest mistakes while developing (being too lazy) 31:22
- How The Lazy Trader and Etienne keep consistency in trading while traveling 32:29
- Where can you find The Lazy Trader 36:55
- And much more!
What is one thing you are going to implement after listening to this podcast? Leave a comment below, or join me in the Facebook group!
DesireToTRADE's Top Resources
- DesireToTRADE Forex Trader Community (free group!)
- Complete Price Action Strategy Checklist
- One-Page Trading Plan (free template)
- Recommended broker: AxiTrader (use our link to get a special bonus)
- DesireToTRADE Academy
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How To Find The Lazy Trader?
What is one thing you are going to implement after listening to this podcast episode? Leave a comment below, or join me in the Facebook group!