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HOW TO ENJOY LIFE AND TRADE FROM ANYWHERE

My experience show, that the best and fastest way to make money

trading is to take a low-frequency »hands-off« approach. If you are

reading my articles amd learning your lessons from them you already

know that, but today I want to expand on the concept of »trading

from anywhere« and why the best way to make trading is if you »do it

on the side« or »in addition to« other revenue streams, rather than

put all of your hopes and dreams into trading.

In my opinion every new trader should practice a sniper trading

approach which practicaly means that trades are taken in small

quantities but with high belief.

Huge advantage of this approach is that you can still do other things

you want, but still stay in touch with the markets and placing trades.

The goal is to make trading an adition to your lifestyle, not its primary

focus. You can still find time to travel, you can have a full time job,

practically anything you want. Doing this is great for your stress levels

and overall state of well-being, but also the best thing you can do for

your trading account.

It’s immportant to have a healthy balance in your life. Everywhere you

need to have soma self-control, and it’s no different in trading. Most

traders don’t practice self-control and consequently they lose money.

They stay up all night watching the charts, they get hooked to short

time frame charts and are eventually sucked up into day-trading trap

that catches so many well-intentioned beginners.

I hope that after today’s lesson you will adopt a »coffee shop trading

attitude« , to become more of a »global nomad trader«/ part-time

trader, with life also outside of trading. It’s a fact that most wealthy

people don’t put all theit money and hope in one place. It may sound

silly that I would be telling you to not depend only on trading. But the

fact is I want you to succeed, and the best way to do it for most

people is to follow a similar path to the one I am going to lay out

below.


»NOMAD TRADING«…TO GOOD TO BE TRUE OR RHE ANSWER YOU’RE
LOOKING FOR?

Trading from anywhere, no matter what you are doing, is not to good

to be true, but is litwrally about the best thing you can do. Let’s

explain…

• FOCUS ON THE RIGHT CHART TIME FRAME

If you want to take a »nomad« approach to your trading, you

must focus on higher time frame charts (weekly, daily and 4-

hour time frames, most other time frames are simply a waste of

your rime).

When you are analyzing and trading on these higher time

frames, you check charts each day or every other day at the end

of the day, and you make decisions based on the daily chart

close at the end of the trading day. I call this end of day trading.

With it you can skip all the intraday noise and meaningles price

movement, and you use that time to focus on your other

activities.

• LOW FREQUENCY

Naturally, focusing pn higher-time frame charts means less

trading. That allows you to take trading with more easeband to

actually enjoy your life because you are not tied to your

computer all day long.

But the most immportant part of this approach is that it actually

helps with your trading performance and chances of long-term

consistent succeas. In the end the whole point of trading is to

make money overall not end up losing it.

• LET THE MARKET DO THEB«HEAVY LIFTING«

Day tradrrs spend hours in front of their computers. They are

on a never-ending mouse-wheel of information overload and try

to make trading decisions. This kind of approach is unnecessary

and in reallity the opposite od productive. Reason why people

ens up doing this, is because they became trading addicts. Theie

addiction are moving prices, flashing colors and the thrill of

entering a new trade. Your goal os to control yourself and avoid

the point where the market starts controling you.

You have to let the market do the work, which means you have

to set and forget yoir trades. Once the trades are made,nothing

will change if you watch the market constantly.


TRADE TO LIVE, DON’T LIVE TO TRADE

Many people blow their money on material things, but every time

thay buy something new the allure of it quickly wears off. So having

less material things is actually better, not only for your bank account

and financial situation, but also for your mind and stress levels.

This minimal approach also works in trading. It means less trading,

less worrying, less chances to over-trade and over-leverage your

account. It’s no coincidence that many successful investors and

traders are not day-traders.

• LESS IS MORE

When you stop trading all the time your trading performance is

going to improve. Why is that? It’s simple. Our brain are not

made to be good at trading because we are not used to be good

at self-control and self-regulation impulses. When you are

presented with unlimited chances to make endless amounts of

money, you found the recipe for destruction of your self-

control. This is why less is more.

The less your brain is involved in the markets and your trades,

the better your chances for success. Most effective way to practice consistent self-control is to simply make the need to

have to perform it as small as possible.


»NOMAD« PRICE ACTION TRADING STRATEGY CORE POINTS

I hope by now you understand why trading like a nomad is beneficial to

your trading performance and also your lifestyle. Now let’s take a look

at the main pieces of a »nomad« trading strategy so you will knkw

how it’s done.

• End of day trading

The basic idea is that you are only making trading decisions after

the New York close each day so that you are using daily charts

the most and making sure you only consider bars that have

closed out. This removes the noise and confusion of the lower

chart time frames as well.

• Set and forget

Means that you find a trade, set up the parameters and you

literally walk away from the computer until the next day after

the New York close. Don’t try to »figure out« what will happen

and don’t check the charts every few minutes

• Simple trading signals

The price action signals that i trade and teach my students

aren’t hard to learn. What you don’t need is trade with

indicators. That is a confusing, overly-complicated and

unnecessary waste of time. A nomad trader who enjoys life

instead of staring at charts all day, needs a simple trading

approach like this. The complicated part of trading is money

management and psychology, so don’t make the actual chart-

analysis and trading part difficult as well.


• Money management

Probably most critical to taking this »nomadic« and relaxed

approach to trading is money management. If you put your risk

so high that it makes you preoccupied with your trades, you

won’t be able to set and forget your trades, because you will

worry to much about losing money. So you must learn to make

a risk that you can mentally handle.


CONCLUSION

This approach will definitely take some time to get used to trading less,

not checking constantly your trades, not spending so much time in

front of your computer but your trading performance will become

better if you stick to this way. You must distract yourself from the

markets, use a simple strategy and make your risk reasonably. Find

yourself a hobby, full time job, travel, make something with your life.

Stay occupied, because if you will just sit around you will eventually

open your computer out of boredom and you will start over-trading.

But you need to know how to analyze price action the right way, and how

to put the whole strategy together to be able to trade feom anywhere

and adopt this new way of trading. You can look how to combine price

action strategies with a low-frequency nomad-like approach in my

professional trading course and members area.

Website: https://elitefxacademy.com/elite-trading-program/


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