Do You Have a Day-Job and Don’t Have Time to Trade?

Trading Strategy
This is a guest post by Dan Roberts

There is a good chance that YOU currently have a job, right? Let me ask you a question: “Why are you not making money in trading yet?” I mean, before you’re reading this then – you can’t be where you want to be in your trading.

Most traders stick to intraday trading for two reasons:

#1 – They think that intraday trading will make them more money (and quicker) – this perhaps may be true – IF you have the time to trade intraday. Most traders don’t because they have a day-job.
and
#2 – Most Forex products available to you are for intraday trading – and if you’ve got a job (which doesn’t give you much time to trade), you’re already at a disadvantage.

All I will say about #1 above is that most pro traders (banks, institutions, funds, private traders, etc.) make their money from the higher timeframes – in other words… they’re not scalping the 5-minute charts!

It’s easy to see that most Forex products are aimed at intraday trading because that’s where the demand is for them.
I’d like to pose another question to you: “Do you think that trading higher timeframes might be better for YOUR trading?

If you have a day-job (which you almost certainly do) then trading higher timeframes simply makes more sense, surely?
There are a number of benefits to trading the higher timeframes.

Firstly, there is the fact that when you trade from charts that are 4-hours and above it requires very little time – literally just a few minutes a day (whatever system you trade)!

Struggle with your emotions and psychology in your trading? Well, the good news is that trading the higher timeframes can remove a substantial part of those issues.

You don’t get caught-up in trades intraday that you regret later, banging your head against the wall and saying to yourself, “what was I thinking?!”

There are many more reasons why trading the higher timeframes might just be the key to turning your trading around (easier to log and analyze the trades you make, less stress, less pressure to make money, and so on). So, take a look at where you’ve been on your trading journey so far. Have you kept away from higher timeframes? Why? They could be your stepping-stone to consistent profits.

Dan Roberts is an experienced trader and knows inside-out the problems that new traders face. Dan has made available his own personal trading system called Forex While You Work.

Comments

can you recomended me which forex signal that really works

If you’re meaning a signal service – then unfortunately I cannot offer any advice.

If you have other questions about the above article then go ahead and ask.

Dan.

can you recommend a good Forex robot, that can yield at least 70% profit in a month

can you recommend a good Forex robot, that can yield at least 70% profit in a month.

Thanks for the placing yourself “out there” for questions.
Your system seems cheap Dan. Few queries if I may:
– What is the Risk: reward ratio on the trades (generally)?
– Do you have any evidence of it’s success, say on a live account?
– What support do you offer ?
– Why so cheap (no complaints … just that is it is so succesful why would you practically give it away?)

To bash: Good luck with that one. Doubt anysuch thing exists!

Sorry, meant to ask more question:
Can this be traded in any time-zone (I am in Australia), or does it rely on the opening of say the UK market?

“can you recommend a good Forex robot, that can yield at least 70% profit in a month”

Bash, if you ever find this, you will be the richest man in the world within a year or two.

Dan.

Mike,

The R:R varies quite a bit (just the way of the system). Generally anywhere from 2:1 to more than 5:1 sometimes.

I would not provide any sort of evidence since the method uses discretion – it’s too easy for newer traders to get dis-heartened (and sometimes upset) when they don’t get the same results.

In terms of support – any questions you ask will be answered.

I’m not trying to get rich from the system. I’m just offering it out to traders who are jaded with “robots” and other “questionable” Forex products.
It’s for the higher timeframes – so you can be anywhere in the world to trade it.

Dan.

Thanks Dan,
> So just to clarify, the Risk: Reward is 2:1 to 5:1, or the Reward:Risk is 2:1 to 5:1 ?
> I think I read somewhere that upon purchase the product needs to be mailed out – is that correct, or can it be downloaded instantly?
Thanks again.

It’s the Reward:Risk (so 2:1 would be taking twice as much profit as you initially risked).

The product is for instant download only.

Dan.

Can you advise on the following.

You mentioned on August 8 “…the method uses discretion…”

Your website seems to indicate no discretion (if I understand correctly), ie “It is simple, easy and an absolute no-brainer to trade”, and “very simple, easy-to-follow rules”.

Are the entry rules just that specific unambiguous rules, or do they contain a fair degree of subjectivity & interpretation ?

Oh, are their any “upsells” ?

Ok, well have purchased this system so happy to post my thoughts here.

Dan, have read the manual; may be my reading of it, but there appears to be a slight contradiction around when to enter the trade … do you have a support email to clarify?

Thanks.

Hi,
Clickbank does not accept credit card from my country Nigeria.
Is there any alternative means for payment?

@Malcolm

Yes, there is discretion. But, as with any business you come across, a little “poetic license” is used to try and get you to buy – just they way of life really. :-)

The method is pretty simple though.

@Mike

Replied to you in email.

@Femi

I can only accept Paypal unfortunately, sorry.

Trading higher timeframes can make trading more accessible for 9 to 5 people but it cannot be the one and only solution to get profitable.

First as you said profit will be much less because your stop loss is wider and your position size smaller of you trade based on the daily for example. And even if you are trading on the daily chart it doesn’t mean that it is enough to check charts for setups and exits only once per day because buying and selling on candle close only can work to your disadvantage.

Forex is wild and noisy sometimes and you should be ready to react at any time if the market tells you as you are trading by yourself.

In my opinion trading forex should be handled as a full time job or part time minimum and if thats not possible one should pick a trustworthy professional to trade for them.

GTA, totally disagree. Whether you trade on the 1m, or 1d charts, the method of buying and selling is exactly the same. Buying on the close is only half the story with the system – you have to wait until the candle closes so that you can make the right decision to either buy or sell. That is true of the 1m or the 1d.

The point of trading on the 4H, 1/2 day or Day charts, is that it is a lot easier to absorb the fluctuations of the days trading.

Profit is secondary to the most important factor – minimising losses. The system here does that pretty well, and has a built in check to ensure that you trade with the markets as oppposed to against it. Regardless of what charts you trade on, you can make a nice little profit, and what you suggest is plain madness – you have to do it full time, at the least part time, or get a pro in. I for one woudl much rather take the responsibility for my training as opposed to ‘a professional’. They can still lose your money.

Anyway, back to the point – I got your system, and think that it looks to work pretty well (without actually trading it myself yet) but I have my own strategy which also works on the 4H chart, and the trades are similar at times, but I think my method has a few more setups. I do think that they can work in tandem though, so thanks for that!

Bought the system some time back.

Pretty much given up on it.

Long periods of no action. When their is action generally is a 50/50 proposition whether trade will turn a profit.

Leave a comment

(required)

(required)