 Hey guys, thanks for tuning in to UrbanForex.com I'm gonna be talking about time on this psychological aspect here Just given the nature that we all love to trade I mean if you've been in trading then you're gonna love to trade and this is also for people Who are full-time traders it affects them more than who are part-time traders? I'm gonna start with the full-time traders One thing that you've probably noticed before you started into the forex market as full-time When you were there on part-time and you demoed and everything you were doing quite well, weren't you? See this is the thing when you when you go into live trading mode and you're there for full-time You're in front of your charts all day when you're in front of your charts all day and there's no movement You still want to trade for some reason Like you need to stop that you need to stop wanting to trade when there's no movements when there's no potential You need to have that control if you can't control it go out Chill with your friends grab a beer do something watch Tom and Jerry if you have to But don't sit in front of your charts at all times another thing is that Stop trying to scalp the market on one minute and five minute Yeah, you may be ultra successful in scalping but give it the number of statistics Majority of people who scalp they do not make it Use that statistics put it in your head Are you gonna be that two or three percent who do make it by scalping? Think about it If you want to take that risk of the remaining ninety eight percent of your capital to become that two percent go for it But until you're not that confident leave it Go on a higher time frame if you're doing technical trading you're following indicator You're doing all that stuff. It holds true on a higher time frame it. They're more accurate on there and Additionally when you trade let's say the four hours the daily the weekly charts what you're doing is first of all You're eliminating your time in front of the screen. That's good for your health. Obviously second of all You're you're not always stuck to the screen. You're checking back every now and then and like if it's on a four hour chart You're checking back every four hours. Your mind is fresh You're thinking about your rules because you're coming back every four hours and you're you have a set category in your head that okay I'm looking for a moving average crossover. I'm looking for this. I'm looking for that, but If you're constantly on your screen You don't go through your rules anymore You go through your rules once twice and at third time you go through like oh, I think it's gonna go up Or I think it's gonna go down. No you need to stop doing that So stick to a higher time frame. It holds more strength It'll help you out. You'll avoid sticking in front of the screen and Your kids won't get mad at you if you have kids. So that's another thing too Well, I'm getting a little personal, but anyways, um Now regarding for those people who are part-time Just if you have a right strategy, you're you're on the right path I mean if you're doing it part-time because you're not you're obviously not spending so much time on your forex I mean, I have a friend Who's a university student and he trades He trades forex as it's his full-time income But he spends less than his part-time amount of time on on his trading Why because he comes in and he trades the daily charts He lives in new york He comes home gets on the market trades around five or six p.m. EST time eastern standard time Looks at the charts and then he makes a decision If he doesn't see his the trade he leaves it. There's so many pairs to choose from he's obviously gonna find a trade way If not, he just leaves it. He says it doesn't make a difference because he's not Aiming to make a full-time income if you get that out of your head to aim to Replace your full-time income you should you should be fine. So he comes home every day from his university Places a trade and because it's long-term. He's not going to exit the trade immediately after entering So he has time he goes out and hangs out with his friend. He comes home Sometimes he sees his trade down in a negative. He doesn't feel bad because he knows it's a long-term thing It doesn't hit him psychologically So he he lets the trade run according to his rules He has his stops he has his limits and then he sees supports and resistance levels and he goes accordingly He does just fine. He makes close to like seven eight thousand dollars a month. I mean, that's decent. I mean If you're aiming more than that then obviously, you know, that's a different case, but that's a decent decent income in Today's economy with all that recession and job cuts going on So it's very important to watch your amount of time you're sitting in front of the screen and over trading because You might get a good trading day today, but I can't and you can't say that about tomorrow Something might be choppy the news might come in But if you're on a daily daily chart or a four-hour chart, you know all this stuff this extra little nonsense gets filtered out Because you have wider stops. You have a wider take profit limits So you get rid of most of the nonsense and you're just focusing on technicals at that point So that pretty much concludes Your time on the forex market. It's very important to do that. So thanks for tuning in