Article is about choosing long term trading approach or looking for short term profits and keep withdrawing from time to time and never let your account to grow but for me Trading Forex or any stocks market is all about manipulation and higher the approach the maximum the profit would be . Short term profits is a solution for those who can wait patiently day in and day out and look for short term volatility spike or any release that high the market and move the price up and down and traders take their profit from time time.
For me trading is always like any other business which needs your time and when you are consistently bringing profits then every time your equity grows with a fixed sum your profit may rise with that as well and that is how we can work less and earn more than expected. Because day trading can be very frustrated with shorter time frames and momentum changes several time a day so it is very difficult to maintain the consistency. But as you approach changes with time and you look to trade long term and changes your time frames to higher frames and that will automatically gives you benefit as there are not too much noise on higher time frames and even no need of looking price throughout the day and you can just watch the chart at the end of day or week and that will give you less pressure and hence chance of picking cherry trades would be much more than those tired minds which look for setups throughout the day.
So, It is important that mindset should be clear whether you choose long term or short term but maintaining a consistency is much more important as there could be short term trading which means 4 to 5 entries in a week and still growing you equity and targeting long term profits
Update of the Weekly and Daily chart of Aud/jpy would be posted on this page soon. So Keep checking it from time to time.
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