Ask me where Euro will head next month and I will not be able to
tell you where. I have no idea! One thing I do know that if a certain
pattern I usually look out for it present, I take the trade - if it is
not there, I do not. Simple. This is what profitable traders do. Even if
they trade as little as twice a month, they do it the lazy way without
the hype and without the draw downs. Either their technical set-up is
there, or it is not.
Lazy trading is an under-rated art - certainly to people new to the markets. However any profitable trader will tell you that more is less and less is more. Some people call it lazy trading, other people call it just plain sensible.
People new to trading the markets, for some reason, think that more is more and that the more time they spend in front of the screen, the more likely they are able to find winning trades - or be entitled to a winning trade. This is what society pre-conditions us to do. More time spend working generally means more output which generally equates to more pay. The financial markets do not work like that.
What a lot of rookie traders overlook is the reason why they started to trade in the first place: to make their money to work hard for them. If there was a way to trade in a straight forward, simple manner where the trading process is simple and low maintenance then that would seem like a no-brainer. Fortunately this is possible and this is what 'end of day' trading is all about. The daily timeframe after all is one of the most commonly scrutinized timeframes amongst the professionals as it is easier to analyse and trade, but is also one of the only timeframes where you can place your orders and walk away, enabling your trades to work for you rather than you being run by your trades.
It makes more sense to trade this way and become a lazy trader rather than to be hunched over the screen all day and all night trying to chase trades on the 1 minute chart. People often do the latter and they often lose money. As the adage goes, to create is effort and to copy is genius so if people are making great returns from not trading often at all, it makes sense to pay attention and keep the excitement for the casino!
Lazy trading is an under-rated art - certainly to people new to the markets. However any profitable trader will tell you that more is less and less is more. Some people call it lazy trading, other people call it just plain sensible.
People new to trading the markets, for some reason, think that more is more and that the more time they spend in front of the screen, the more likely they are able to find winning trades - or be entitled to a winning trade. This is what society pre-conditions us to do. More time spend working generally means more output which generally equates to more pay. The financial markets do not work like that.
What a lot of rookie traders overlook is the reason why they started to trade in the first place: to make their money to work hard for them. If there was a way to trade in a straight forward, simple manner where the trading process is simple and low maintenance then that would seem like a no-brainer. Fortunately this is possible and this is what 'end of day' trading is all about. The daily timeframe after all is one of the most commonly scrutinized timeframes amongst the professionals as it is easier to analyse and trade, but is also one of the only timeframes where you can place your orders and walk away, enabling your trades to work for you rather than you being run by your trades.
It makes more sense to trade this way and become a lazy trader rather than to be hunched over the screen all day and all night trying to chase trades on the 1 minute chart. People often do the latter and they often lose money. As the adage goes, to create is effort and to copy is genius so if people are making great returns from not trading often at all, it makes sense to pay attention and keep the excitement for the casino!
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