Forex early warning group

The Authority’ on Price Action Forex early warning group. In 2016, Nial won the Million Dollar Trader Competition. I’ve truly seen it all when it comes to trading, from sitting next to professional traders who manage large sums of money, to running live educational seminars.

So, grab your favorite beverage and enjoy this article about how professional traders actually trade the Forex market. Most professional Forex traders do not waste their time trying to trade short time frame charts. Instead, they spend their precious time taking in the bigger picture of the market, through careful and skilled analysis of the higher time frames. Higher time frame charts contain a more accurate and meaningful view of what is taking place in a market. Successful Forex trading is not about spending massive amounts of time staring at the charts until your eye balls burn. Thus, most professional traders spend their time analyzing time frames of the four-hour chart and higher, the one-hour time frame can be useful for refining entries, but anything less than this and you are simply rolling the dice. So, step one to trading like a professional is to fully accept that higher time frames display a much more accurate and useful view of the market than their noisy lower-time frame counter parts.

As a result of trading higher time frame charts, many pro traders are much more precise and efficient than their amateur counter-parts. One of the primary mental road-blocks that prevent so many traders from making the consistent money they desire, is erroneously believing that interacting with the market more, and trading more, will result in them making more money. The truth of the matter is that trading more frequently has no positive effect on your trading results. In fact, statistics show that traders who trade relatively infrequently consistently make more money on average than day traders and traders who trade very frequently. So, most professional traders trade higher time frames, and as a result of this they trade less frequently than what most people might think. The easy prey in the world of Forex trading only comes to those traders who know exactly what they are looking for, and who also can wait patiently until what they are looking for presents itself to them.