Forex on Five Hours a Week: How to Make Money Trading on Your Own Time

Chapter 13. Embracing Automation

Figure 13.17. Don't get buried in analysis.: 2007 "Fxstreet.com. The Forex Market." All Rights Reserved.

Since I am writing about Forex in Five, there is a chance that people will insinuate that forex trading or any trading for that matter can be or is a part-time endeavor. That's not true. "Full-time trading" should mean that it replaces the income that you would have from a full-time job. "Full-time trading," though, has somehow been turned into 12- to 16-hour pursuits of insomnia driven, get-up-in-the-middle-of-the-night trading.

So let's agree that "full-time trading" is about having the type of income you would have from a full-time job. If your bills are paid through your trading activities, you could in fact be a full-time trader regardless of the time spent in front of your computer screen.

I bring this up because at some point you will wander into the forest of the World Wide Web and come across forums and chat rooms all touting a mechanical system that works. I'm sure some of it does for some people and I'm certain most of it doesn't work for most people. Think about this: If you had a system that was 100% mechanical (think "set it and forget it") and generated consistent profits, would you share it? If you said "yes" you are a liar. If it worked you would very quietly make that profit for as long as it did. Period. And that's precisely what ...