Feb 02 2025 7 mins 9
How to Trade Forex in Under 30 Minutes A Day
Podcast:
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#575: How to Trade Forex in Under 30 Minutes A Day
In this video:
00:24 – Trading in 30 minutes or less per day.
01:20 – New traders think they need to be taking trades all of the time.
02:30 – Less is more.
03:18 – My 2 preferred trading times.
04:18 – We use limit orders to place trades.
05:00 – Some clients just trade once a week.
05:40 – 17 minutes Masterclass and Book a Call.
06:11 – Blueberry Markets as a Forex Broker.
06:32 – Enjoy your trading.
07:31 – Comments, Like & Subscribe.
How do you trade in less than 30 minutes a day? Is it possible and is it realistic? Let’s talk about that a more right now.
Hey there, Traders! Andrew Mitchem here at the Forex Trading Coach with video and podcast number 575.
Trading in 30 minutes or less per day.
I quite often get asked the question, look Andrew, you say that you trade in 30 minutes or less per day. How do you realistically do that and can you do that as a new trader? You see you know, the answer is yes, you can.
Of course. That’s why we say so. But the problem that I find is so many new people to trading and look I did the same, you know, myself 20 plus years ago. The issue that people have is they feel that they should be looking at, taking trades all the time. And as a result of that, the fun, the excitement, the, you know, the movement, is often seen on the very short timeframe charts such as, like one minute charts, five minute charts, 15 minute charts, and people feel that they need to be looking at those because that’s how they accumulate, trades and pips. People still mistakenly count their success in pips, which of course is completely the wrong thing to do.
New traders think they need to be taking trades all of the time.
And so when people start out, they think that they need to take lots of little trades. The realization comes when you realize that you’re just not making money from that. One the cost of the spread just gets in the way pretty much on almost every trade you take on the forex market and, you know, just eats into any profit.
Reward to risk is very hard to achieve or a good reward to risk. And also just realistically, you tend to find that a lot of people will sit down. They see a trade, or they think they see a trade because they’re ready. And so they’re taking far too many trades there, forcing trades because they’re sitting that.
And the other realization is that it’s actually not very enjoyable when you’re spending so much time looking at the charts, flicking through charts, getting very stressed when trades are open because you’re watching, like, small moves up and down, you know, going into profit, then you trade goes against you. Oh my goodness, I need to close it early and you start doing all these sort of crazy, rash, things without, you know, decisions without really a lot of thought or planning behind it.
Less is more.
So for me, the answer is less is more. I’ve been a fan of longer time frame charts. Now, it doesn’t mean to say I don’t look short a time frame. When I hold webinars for my clients, I look at one hour charts, etc. two hours, sometimes 30 minutes, but not very often. But 90% of my trading is done on the longer timeframe charts of like, six hour, eight hour, 12 hour, daily, weekly, monthly.
And you’ll find that those are a lot more enjoyable, are a lot more, reliability within the candles as well, within the charts. Reward risk is easier. Spread becomes you know, almost insignificant on so many of those pairs when you’re on a daily, weekly and monthly timeframe charts. So that becomes better, becomes more reliable.
My 2 preferred trading times.
Now, when you know when to look at your charts. Now, my two preferred times, this is purely my preferred times because of where I live and time of day, etc.. 5 p.m. New York time is the best time of day to start looking at your charts. Now, you don’t have to be there at that time, but that’s when the daily chart changes over. And at that same time, you can look at, no, at the beginning of the week, you can look at weekly charts, beginning of the month, look at monthly each day, look at daily charts.
And then at that same time each day, you can go through and look at 12 hour, eight hour, six hour charts. And that’s what I mean in terms of like 30 minutes a day. You can scan through those full time frames really easily in 10-15 minutes, like very easily. And so my other time frame that I try to look at is 5 a.m., New York time.
And at that time I scan through the 12 hour, the six hour, sometimes the four hour and the two hour charts and just literally scan through in ten minutes again and see if there’s any suitable trade set ups using my strategy.
We use limit orders to place trades
And if you think, well, I can’t trade those times, it doesn’t matter, because the way that we trade is we use limit orders anyway. And as an example, if you’re in, let’s say, Europe and you say, well, the 5:00 pm New York time close is my night time, I can’t trade then that’s fine. Look at placing those trades in your morning time. Sometimes you’ll miss out on a few trades if the market takes off in the Asian session. But most of the time you won’t.
And you’ll find that, you know, most of the action, of course, will start into the European session, US session. So you can trade those, those daily charts pretty much, wherever you live in the world. Very, very easily. You don’t have to be there at exactly 5 p.m. New York time.
Some clients just trade once a week.
So, I have clients also who, you know, very busy people who trade just once a week on the weekly charts. If you wanted to, let’s say, trade a few times a week, I would, pretty much pick a Tuesday, Wednesday, Thursday. Monday is always a bit quiet or can often be a bit quiet out of the week. Not a lot happening until, like, the European, Asian, European and US sessions kick off. And I would probably skip a Friday as well and focus on 2 or 3 days in the middle of the week.
You’re going to get your best chance of success and good market movements. So that’s how you can trade like, just 15, 30 minutes a day, a few days a week. And you’ll do very, very well once you know what you’re doing.
17 minutes Masterclass and Book a Call.
If you’d like to find out how we can help you to do this and how we do this ourselves, I’ll put a link here to my masterclass. It’s a free on demand session. Jump on it and have a look through it. it’s only 17 minutes. And just to get an understanding of how we trade and what we do,
If you’ve been on that and you’d like to book a call with one of us, you can do that as well. We’ll, we’ll open up a, a booking calendar where you can book a time to have a chat with us about what we do and if we’re a good fit for each other. And if we can help you.
Blueberry Markets as a Forex Broker.
And lastly, if you’re out there looking for a high quality broker, I can highly recommend Blueberry Markets. They have the MT4 and MT5 platform they base over in Australia, but they can take clients pretty much anywhere around the world apart from the US. But anybody else? You know, I have a look at, blueberry markets. And again, I’ll put a link to them here as well.
Enjoy your trading.
So, that’s it. It’s really important that you enjoy trading, do things like this, you know, outside summertime here in New Zealand this time of year, of course, southern hemisphere. Go and do things that are enjoyable and then, you know, you’ll really enjoy your trading as well.
You can’t have you trading been a bind that, you know, you glued to your charts, you glued to your computer. It’s just not fun. Less is more high quality trades, less of them. You’ll just do so much better. And again, that’s why we do what we do and why we enjoy doing what we do. And it’s why it works for so many, you know, thousands of people right around the world because you can still, you know, have family life, job, travel, whatever it is that you do and trade at the same time.
It’s not saying you need to sit there for x number of hours every single day, glued your charts, because let’s face it, that’s not fun. It’s not profitable either. So those two things are very important to get right. Of course.
Comments, Like & Subscribe.
So that’s it for this week. I hope you enjoyed the session. Don’t forget to like and subscribe. And, any questions you have, please come through to me. I’ll, see this time next week. This is Andrew Mitcham here at The Forex Trading Coach. Join this beautiful sunshine here in New Zealand in summertime. And I also enjoy trading and, take my trades this morning. And that’s it. Until later tonight. My time. See you next week. Bye for now.
