How To Learn Forex If You Are Holding a Day Job
Last Saturday, I met one of the student of my Forex Street University Course at Orchard Road while I am shopping with my wife and son. He came over to call me and it really surprised me to actually talk face to face with a student of my course.
He was with his wife and kids and I am very happy to have a nice chat with him knowing how he is doing after taking the course as well as answering some of his question regarding the course and the copier service.
One thing I miss out is to take a photo with him and his family together with my family so that I can post it here on this blog. What a pity. Maybe next time if I met one of you guys on the street, we shall take a photo.
In today forex faq, I am going to answer a question above on how to trade forex if you are holding a day job. In fact, this is one question that I often get from students as almost all my students are having a day job and do not have much time to trade during the day.
I understand that most of you guys can only trade one or two hours at most everyday and do not have much trading opportunity to practice. Therefore a good way for you to practice what you have learned from me is to do a daily back testing.
What you can do is to scroll back the chart to the start of the day and then slowly reveal each candle and then ask yourself whether there is a trading opportunity or not.
Once you identify a trading opportunity, you will then wait for a good entry opportunity. Although this is kind of paper trading but it is the best way to practice for someone who do not have a lot of time to practice.
You will then write down where is your entry and slowly reveal the next candle like how the real time market does to see if it hits your target profit or stop loss.
Personally, this is the best way for you to practice how to trade. In fact, this is how I do back testing for all my strategies when I am formulating them. For the backtesting of my strategies, I do it for six months at least.
Below is a video to show you how to do it
I hope that this post is useful for those of you who do not have much time to practice what you have learned and eventually be able to generate consistent profits from trading.