The 4 Hour Trader (How I Work Less & Earn More)

Most of my friends are surprised when I tell them I trade for less than 4 hours a week because they know that I make a lot of money from trading while they are out there slaving their asses off working a 9 to 5 job

Some of their monthly salary is lesser than what I make in a day

Some people think Im crazy when I tell them I only work 4 hours a day. 

I tell them they are crazy for working more than 4 hours a day.

I'm at the point in my trading career where everything is just clockwork.

Everything is just art.

From the moment I analyze the charts and enter the trade until the moment I get out of the trade.

I don't say this to flex or show off, I say this to inspire you that one day you can achieve what I have achieved for myself but it's not going to be easy.

It can take you years and years of hard work to do so because there is no such thing as overnight success in trading.

Trading is a hard way to get rich fast because it is a skill that takes time to learn.

Obsession with charts leads to nowhere

I was with my friend yesterday who had just started trading.

We were hanging out and I realized that he kept taking out his phone and checking the charts to see how his trades are doing. 

At the end of the day, we sat down and we were just chilling at the benches. 

And then I pull out my MetaTrader 4 and I'm up about $2000 at that point in time because I was shorting gold. 

This was the first time I pulled out my charts on that day, before that I wasn't constantly checking my phone to see my trades like what he was doing.

He saw my profits and he was like  “Wow Brad you are really a good trader. I lost like $100 today while you are up $2000! How did you do it?”

Learn how I do it from The Trading Blueprint course

I told him that I'm not a good trader. 

I'm just an average trader with an average win rate. 

But there’s this one thing that I do that you don’t. 

And that is to TRUST YOUR ANALYSIS. 

That’s the moral of this story. 

THERE IS NO POINT CONSTANTLY STARING AT THE CHARTS unless you are a scalper. 

But if you are a swing trader or a day trader, set and forget. 

Once you enter the trade, set your stop loss and your take profit and forget about it so you can let the trade play out.

 Stop checking the charts or your Meta trader 4 every 5 minutes. 

If you do this, you are just going to get emotional and get affected by the ups and downs of the market. 

An example you see that price is going against you right now, you thought its a reversal so you close your trade. 

30 minutes later, you check the charts again and it was actually a retracement NOT A REVERSAL, and then you start blaming yourself OH WHY DID I GET OUT OF THAT TRADE?

Why trade 4 hours a week only?

1. Analysis paralysis

Staring at charts all the time can actually do more harm than good. 

When you stare at charts all the time, you will develop something called analysis paralysis.

This will prevent you from executing the right trades and will cause you to lose money.

2. Focus on other areas of your life to achieve self-actualization

Trading should not be the only thing you have in your life

Go out, go to the gym, go meet some girls, go for a walk in the park. 

Work on your physical health, mental health, spiritual health, and relationships.

Become a digital renaissance man or woman who thrives in the modern era.

The last thing I want to be is one of those old rich but fat guys who die at the age of 40 because they did not work out when they are young

3. Focus on 1 trading session 

Figure out which trading session your favorite currency pair moves the most in.

And trade only during that session

Different currency pairs move differently during each session 

For E.g. EURUSD can move a lot during London and NY sessions while GBPJPY can move a lot during the Asian and London session

I used to look at charts and trade all day.

I would profit in the London session and then end up losing that profit in the NY session

Now I only trade during the London session. 

If I do not see any trading opportunities during the London session, I will not trade for the day and trade the next day

A mistake I use to make is that I would lose money in the London session then I would try to get back that loss by trading the New York session and this caused me to lose even more money.

Because I was trading based on my emotions rather than my plan

Remember there is always another day to trade

Focus on the right things

I saw this tweet by @comedicbizman the other day

The point here is you don’t need to spend 16 hours a day watching your charts and trading. 

All you need is 4 hours a week.

Spend the rest of your time learning more about trading, journaling and reflecting on your trades and also working on other aspects of life.

That’s how you become a top 1% trader 

Remember you’re just one trade away…