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and more money. Now, lets get back to my main point that trading lower time frames is decreasing your chances of winning and destroying your trading account. Checkout Nial's Professional Trading Course here. About Nial Fuller Nial Fuller is a Professional Trader Author who is considered The Authority on Price Action Trading. There are several ways to participate in online trading in Canada: you can choose a broker that is regulated in Canada only. Yet, even though you know its keeping you from achieving success in the markets, you cannot break your addiction to trading lower time frame charts and over-analyzing the markets. You see, most of you are losing money because you are trading too often, and you are trading too often because you are fixated on over-analyzing the market, Forex news variables, and lower time frame charts (I consider any chart under the 1 hour. So, if you want to turn your trading around, its time to swallow your need to control the market and for instant gratification, and begin taking a longer-term view of the markets by focusing on the daily chart time frame. As you can see in the chart below there are several excellent options, and each broker may be the best Forex broker for different traders depending on their specific needs (as outlined above). So, the point here is that traders who are addicted to trading a 15 minute chart are actually addicted to the feeling they get from entering the market, and this means they are unable to use their more advanced planning and long-term brain areas effectively. You need to get rid of this attitude of getting rich quick and thinking that trading a 15 minute chart is somehow going to provide you with more opportunities to profit.
Forex trading success is largely a result of the quality of the trades you takenot the quantity of trades you take. Daily charts reduce the frequency with which you trade slow and steady wins the race. Maybe you cant even sleep at night because you are so addicted to the 5 minute chart and to watching every pip of price movement that all you can think about is the market.
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There's no harm in opening a demo with a few brokers to see which one suits you best. Heres the deal, yes, there are more trades on a 15 minute chart, however, there are also more false-signals and there is more random market noise, so you are just going to end up taking more losing trades and stressing yourself out more. High Rank Web SEO Submit directory For Quality Websites including Hosing, Forex and Business » Submit Link, top Categories, pricing: Featured links (Reviewed in 48 hours by our Human Editor. Trading a 5 minute chart stimulates the reward centers of your brainit gives you instant gratification. Its because they have taken a longer-term view and they realize that their success is not defined by any one hand of cards, just like your trading success is not defined by any one trade. This goes along with developing your discretionary price action trading skill; you have to learn to read the market and get in touch with its ebbs and flowsit sounds a little cheesy maybe, but the market talks via price action, and if you listen closely. The information we've compiled is as candid and updated as possible to ensure that you make a confident, educated decision.