It’s been a long time coming, but last week, I spent my time trying to write a new blog post about my new journey as an intraday forex(FX) trader. If you were following me back in 2019-2020, you might have known I had focused on trading the forex market from a higher time frame perspective.
The hands-off approach using more long term swings was great for where I was personally at the time. With a full-time job and the lack of time to watch the charts within the day, I never thought being an intraday trader would be something that I could do.
In October of 2020, there seemed to be a shift in my psychology of the forex markets. Every day felt like I was missing something, but I could not put my finger on what it could be. It was only by sheer luck that I stumbled on what was bothering me.
“I would never trade the FX markets because I can’t see when the big orders come in.”
The above statement was a game-changer for me, and I set out on a journey to understand order flow. Order flow is about understanding how the volume in the market is affecting the price action. As a visual person, looking at price charts and candlestick patterns was not going to cut, so I spent the last five months learning how to interpret volume.
This blog is my journey of becoming an order flow intraday FX trader. I won’t hide the bad days but may hold back the good days. You will never find me disclosing my edge in a blog post, but I want to provide evidence of my trading where I can. There are not many forex traders who trade in the 1 minute time frame and live to tell the tale, so hopefully, I prove there is potential to do this as a living.
As of writing, this is all educational, and I would not advise you to take this route if you want to be an FX trader. Higher time frame trading means you can withstand the order flow of the trillion-dollar FX without getting caught out if you:
- Make mistakes
- Have a poor risk management strategy
- You not in the zone every time you come to trade
They will never be a moment where I sugar coat my trading on this blog. Yes! I am still making mistakes that are costing me every day when I look at the P&L, but it’s the journey of consistently executing the trading plan that we must focus on as traders.
“Focus on the journey and learning from the experience. Profits will come as a byproduct.”
With Love……The Trading Dragon
Part 2 Coming Tomorrow 👨🏾🎓