Mentorship isn’t just a one-way street. You, as the student, stand to gain knowledge and wisdom under a mentor. But what’s in it for him if he decides to put in the time and effort to teach you? For many, it’s the joy of seeing a student grow, and I think many share DoubleEcho’s sentiment that a good mentor would only invest their limited time and resources into a noob who shows the potential for success and that they would work very hard for it.
Day trading - These are trades that are exited before the end of the day, as the name suggests. This removes the chance of being adversely affected by large moves overnight. Day trading strategies are usually the perfect forex trading strategies for beginners. Trades may last only a few hours, and price bars on charts might typically be set to one or two minutes. The 50-pips a day forex strategy is a good example of a day trading strategy.
Peter, himself, learned how to trade in the early days of his career from some of the top traders in reputable trading houses. Peter spent an 18-month period learning anything and everything he could about trading the Forex. Over time, he developed his instincts for a simple yet powerful Forex trading system based on his Pivot program which has been continuously refined over the years. His system consists of the same techniques used by many trading houses today.
Trend-following systems require a particular mindset, because of the long duration—during which time profits can disappear as the market swings—these trades can be more psychologically demanding. When markets are volatile, trends will tend to be more disguised and price swings will be greater. Therefore, a trend-following system is the best trading strategy for Forex markets that are quiet and trending.