The Forex Guy is a great resource that teaches traders how to take a more measured approach to trading in a volatile market. This program is designed for the long-term and is focused on teaching traders how to trade for life, not just a few days. Many people get into the market with the intention of becoming financially free or having more time to enjoy life. However, this often results in them spending more time in front of charts than they would at a traditional job, and earning significantly less than they would on a normal salary. The Forex Guy teaches these individuals how to maximize their time in order to profit from it and build a sustainable future.
This book focuses on day trading, where you close your positions at the end of a trading session. Swing trading, on the other hand, means that you hold positions open for days or weeks at a time. For swing trading, most traders use the daily time frame, which tends to see larger price fluctuations, while the weekly time frame tends to show larger swings. A 4-hour time frame can complement both of these time frames.
When you begin trading, you must know which time frame you wish to trade on. There are two main styles: day trading and swing trading. A day trader will use the smallest time frame, and a swing trader will use a much larger time frame, like a week. The four-hour time frame is an excellent complement for the daily time frame. But, if you’re unsure of which one to use, you can use the daily time frame to learn about trading.
When you’re ready to move up the ladder, there are three basic timeframes that you need to understand. A day trader uses only the daily time frame. A swing trader uses a weekly time frame. In other words, they use the daily time frame and only close their positions if the trend is favourable. The weekly chart is a good complement to a daily chart. When you’re ready to go live, you should try using a daily trading system.