How to trade from any location and become a "set and forget and get a life" trader and investor
Being able to trade and make money from anywhere at any time, no matter where you are, is freedom. In this article we explain how you do it!
How to trade from any location and become a "set and forget and get a life" trader
The touch not and steady growth approach is our online trading academies' recommended method for all forex, futures, and stock traders and investors to make money over time. If you have been with us for a considerable period, you are probably conversant with the trade from anywhere concept we teach and why it is crucial to have another job you are doing alongside trading. We have always emphasized why trading shouldn't be the custodian of all your hopes and dreams and why that is dangerous.
The focus of any new trader should be to trade the forex, futures, and stock market with a minimalist mindset, to improve and increase their risk management and reduce the overall number of trades they make. Trading with increased conviction makes the "set and forget and get a life" trading approach possible. We not only teach our students this approach, but twe have also used this in our years of trading and investing in the forex, futures, and stock market.
One of the significant advantages of this method is that it makes it possible to trade from any location and also to have enough time to pursue other desires. The goal should be to make trading complementary to your lifestyle, which is exceptionally significant in reducing your stress level and also beneficial to your trading account. Trading on the side allows you to grow your account without pressure and unnecessary stress.
There is a need for balance and moderation in everything we do. Every activity or habit must be practiced in moderation, including trading forex, futures, and stocks. A lot of beginners unconsciously get trapped into day trading due to lack of restraint. They believe they are putting in their best by consistently watching charts and following different unstable market trends. Not trading in moderation will increase the chances of getting into hazardous and miscalculated trades, which leads to loss.
There is something called the coffee shop trader, and it merely means you check on your trade while going through your regular daily routine. We hope after reading this article, you can become the "set and forget and get a life" or part-time trader. Putting all your eggs in one basket financially is not a very wise financial decision. It is a known fact that most wealthy people have multiple streams of income. It might seem silly that we are advising you to diversify and not be solely dependent on trading, but our primary focus is your success. We have been able to realize that from experience, following this path we are about to layout is the most rewarding.
Do you think the "set and forget and get a life" trading is too good to be true, or is it the answer you've been searching for?
Being able to trade from anywhere at any time, no matter where you are or what you are doing is the best thing. Imagine being away on business trips or vacation and still trading. It is not too good to be true if you know precisely how to go about it. We would explain precisely how to go about it.
Focus on the right chart frame
Specific timeframes give room for you to be a "set and forget and get a life trader." It is better to trade higher timeframes like daily, weekly, or monthly timeframes. Most other types of timeframes are just a waste of time, and they are way too unstable. You might not be familiar with all these terminologies and ideas if you are a beginner, and that's okay because, in due course, you will learn more about various terms and strategy.
When you trade higher timeframes, you can check the charts once during the day and attend to other things instead of spending hours staring at the charts for no reason. Focusing on the right trades give enough time to be involved in other productive activities.
In this case, we can agree that less is more. Trading higher timeframes will make you enter a smaller number of trades which will help you avoid the addiction of being tied to your computer endlessly. Higher timeframes give an overall better result as well as it enables you to have a balanced life.
The best part of trading higher timeframes is that it helps your trading account and overall success. The point of trading is to make profit consistently and not lose it due to day trading or high-frequency trades which are poorly planned.
The market should take care of the heavy lifting
Trying to analyze and sort through all the information the market throws at you is stressful and unproductive. Day traders find themselves having to seize through tons of information to make decisions. Decisions made under these circumstances might not turn out to be the best because the market noise can cause a lot of distraction.
A lot of day traders are not into day trading because they think it's fun or cool. However, continuously staring at charts and monitoring the market can be as addictive as drugs. The goal is to control your trading habits, so it doesn't end up controlling you.
It takes much patience to let the market do the work, so you don't waste your time analyzing and sorting information. There is an increased level of stress involved in trying to analyze the charts yourself, which won't be good or favorable to your trading account and your overall health. The primary way to allow the market to do the heavy lifting is to set and forget your trades once you enter them. Constant checking of your trades will not change anything or make the market move a certain way.
Trade to live, don't live to trade
It is not a surprise that most successful traders are not day traders. A lot of people attach their happiness and fulfillment to material possessions, which puts a high pressure on them to get it. The absurd truth is even after getting their desired item; their satisfaction is usually short-lived because they would soon start craving something else.
Entering fewer trades in the forex, futures, and the stock market will significantly reduce the rate of anxiety. Another advantage is that you wouldn't over trade, thereby over-leveraging your account.
Less is more
Here's a simple fact: the human brain is not naturally programmed to be good at discipline or self-control. The best way to ensure we remain disciplined is to reduce exposure to our temptations. To be continuously exposed to the price movement in the market is to throw away all control and trade recklessly. The less your brain is exposed to charts and graphs, the more it can withstand the addiction and follow a specific trading strategy through which makes less more.
Core values of the set and forget and get a life approach:
Having established the importance and benefit of having a "set and forget and get a life" trading approach, the next step is to develop a workable strategy.
Supply and Demand trading strategy
This is the foundation on which the whole "set and forget and get a life" trading lifestyle is based on. We have written extensively on the Supply and Demand trading strategy in various articles, and we would advise that you read up on it on our website. The original idea is that a change in price occurs depending on the relationship that exists between Supply and Demand. The higher the Demand, the higher the price, and vice versa.
In our online trading academy, we teach our students to determine the market's true buying and selling nature. We emphasize the need to be able to analyze and identify trading opportunities mechanically when teaching our students. We will also equip our students with skills that would help minimize the time spent on deciding which trades to enter by showing you how to make a pre-planned trading strategy and how to implement it.
Set and forget and get a life
You need to learn the difference between what you can control and what you can't. After entering a trade in the forex, futures, or stock market and placing all the necessary parameters, you should understand that consistently checking on your trade changes absolutely nothing. Trying to figure out what will happen eventually would not be beneficial to you in any way even if you do guess it right.
The Supply and Demand trading strategy we teach our students is simple but not easy. It is impossible to expect that trading in a multi-trillion-dollar market would come easy. We simplify and explain facts to our students to make their trading experience a lot simpler. You don't want to trade every indicator you have access to. It is an overly complicated endeavor that yields little or no return. To be an active "set and forget and get a life" trader, you would need to have a simple trading approach so that you can have enough time for other activities and to enjoy your time and life.
The way you set your risk matters a lot in the "set and forget and get a life" trading method. You cannot afford to set your risk so high that you get crippled with anxiety and worry about losing. Risk per trade should be controlled and limited to an amount you won't get worked up over losing.
Low risk, high reward, and high probability
This is the goal and objective of any trading strategy. All these three key goals do not require a complex system of analysis to achieve. The needed skill is to understand the market imbalance of Supply and Demand.
Considering all we have discussed above, I hope you now realize the benefits of the "set and forget, and get a life" trading style. It will undoubtedly take a while for you to get used to it by doing less of checking the computer and keeping up with market movements. The main thing is to keep yourself occupied with other activities and keep being productive that way, so you don't find yourself idle. Use a simple strategy like the Supply and Demand trading strategy we teach. Get a hobby, travel, experience life, and build a balanced lifestyle, so you don't find yourself sitting around being tempted to over-trade.
You need to learn how to properly analyze and combine the strategy effectively in order to trade less. The proper combination of the Supply and Demand trading strategy with the low-frequency "set and forget and get a life" approach will produce excellent results and improve your overall trading performance. We hope that by mastering what has worked for our experts and students, you can apply yourself to see significant improvement in your overall trading experience.
If you want to learn more about professional trading and investing across multiple asset classes such as forex, futures, and stocks, please sign up here for free at our online trading academy www.onlinetradingcampus.com and get access to a free three-hour introductory course.
Author Bio: Bernd Skorupinski teaches the undiluted truth about trading and investing at Online Trading Campus and takes you through what it takes to be a consistently successful trader. His favorite moment as a trading mentor is the way peoples’ eyes light up with excitement and confidence when they understand how Supply and Demand trading strategy works and how it can help win in the trading arena. He believes in building core values and discipline that ensures his students do not succumb to the pressures and temptations of the market. He very much believes in following plans and strategy through. If you want to know more about the author Bernd Skorupinski please read here