I heard about this short term trading method in the Rob Booker camp called Zen Trading. At first I wrote it off because it seemed like a crackhead way of trading. Only going for one pip, no stop losses. No way, that’s crazy.
However, I firmly believe in “don’t knock it until you have tried it”, so I decided to at least find out more about it. I attended one of Rob’s daily webinars where they were doing a presentation on Zen trading and would actually be trading it live.
The best Zen trader who works with Rob is this guy Josh. As Josh started to talk about his experiences and was trading right there on the screen, I thought to myself, hey this might just work.
The reason it is called Zen trading is because it is probably the most minimalistic trading style ever. Josh even suggests that you don’t trade with charts in the beginning. No charts?!!
You just enter a trade, it doesn’t matter the direction. When you have a 1 pip profit, close it out. Obviously you want to trade a pair that has a very low spread. I have been trading the EUR/USD.
I have only been trading it for a few days, but the results have been good so far. It is work and you have to grind out profits, but it can be a great way to make a living and it is fun.
More to come in future posts.
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[...] strategies that have been working for me only took me a couple of hours to learn. In fact I taught Zen Trading to my friend and he was able to start making money on the first [...]