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Day Trading With 10 Minutes Time Frame - A Short Forex How-To

Do You Really Want To?

Are you insane, or do you just like loosing your money? Okay, now that I've asked my insulting question, we can move on. :-)

Honestly though, day trading the 10 minute timeframe is hard, really hard. There are many easier ways to trade forex, but if you want to know how to do it, I'll show you.

Trading Blind

I just want you to remember something. There is no big player on this level. There are no true trends. All you will be trading is market "noise". Look at the chart below.

Are you going to tell me that you really know where the price on the right side is going to go just by looking at the chart? Even if you start throwing indicators on there, it still won't work. You'll get chopped to bits.

You see, market moves have a degree of predictability (notice, I didn't say it's totally predictable. We both know it's not!). Market noise isn't predicable at all. If you don't believe me, try trading the 10 min charts for a while and see for yourself.

The Longer View

However, not all hope is lost. There is a way to trade the short time frames. I'm sure you know that the market moves in waves. It thrust and then pulls back.

So we're going to take advantage of that. Pull up a ten minute chart and a chart approximately five times larger. In this case, we'll use the 1 hour chart.

See on the hourly chart where the price is just going up and up (where I have it circled)? Now on the 10 minutes chart, it's going up too, but there are times were it comes down. As the price is coming down, you enter long, then the main trend resumes and you are profitable.

You could've done the same thing to the short side after 11 o'clock. The market's moving down. So you buy as it moves up a little. Then as soon as it resumes down, you have a profitable trade.

No need for lagging indicators or any of that. In my opinion, this is the best way to day trade a short time frame.

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