Listen to the audio episode: (38:48)
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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!
Resources Mentioned
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!
