Trading a longer time frame helps fit trading into your schedule while you move from day job to full-time trading. Learn to trade longer time frames with 
Howdy Folks,
No trading for me this evening. I’ve booked a couple of decent trades already this week so tonight was a lovely sunset dinner on the shores of Lake Washington with my Wife. I hope your having a great day in your corner of the globe! When I got home this evening I noticed two things. First, I missed a great bargain day trade on the EUR/JPY and second, the light in my office has burnt out and I discovered I’m out of replacement light bulbs! Since I’m sitting in the dark right now I thought we could run through the EUR/JPY bargain day setup for the sake of practice and call it a night.
As we talk about in the weekly webinar we need a few things to get a trade like this going. First, we need a bargain day. Second, we need a logical limit on risk. Third we need a profit target. On this setup we see EUR/JPY offer up a bargain day which also matched up with the top end of a small range that had setup on the daily chart. Using our Fibonacci ratio we get a nice profit target on the 61.8% level. You would have had to been quick on the trigger as the daily candle closed which in the case of my charts was 5PM Pacific. If your charts closed earlier than that it would have afforded a few more hours to plan and pull the trigger, this happens sometimes. Look around the majors tonight, there were a handful of bargain days to choose from including GBP/JPY, AUD/USD and EUR/JPY.
Any rate, I hope that helps clarify any questions you might have about my style of “bargain hunting”. We talk about it every Monday in my webnair and I hope you can join us.
Best of luck,
Ryan