Hello, all of you. Today, we will sit down and discuss a little bit about Fixed Time Trades (FTT). This is a new, negative but seemingly correct, view of this trading type. This article presents my point of view – Flash. I’m a trader who has been bullied by the market for over 3 years. I hope it will be useful to all those who have been and will be, embarking on this path.
The truth about Fixed Time Trades
There is a quote that I read somewhere (sorry I don’t remember the source): Actually, FTT brokers do not need to manipulate the price (manipulate candlestick signals) or tricks to mutilate your money. Just give traders a chance to trade a lot and quickly, they will burn out their own accounts at once.
I do not deny the fact that there are a fair number of brokers that show signs of fraud. They manipulate the price or do other tricks to prevent traders from making a profit or withdrawing when being profitable. However, “genuine” platforms will never interfere with your order. They are even better by interfering with your mind. They stimulate it and let it do the rest.
What did brokers do?
The nature of Fixed Time Trade is not about speed. It’s the problem of correct and incorrect with severe win rates. However, brokers wisely recognized the problem. They need to increase the speed of trading to beat both the good traders and fools.
Admittedly, for whoever creates Fixed Time Trades, they are the ones who understand the traders’ world very well. They understand that speed is the life-and-death key to this profession.
In Fixed Time Trades, things go wildly but as planned. Ironically, you are the wild things, and the platform is the one who plans to let you pour money into their pockets. It’s a game that is inherently fair (in theory) but extremely sophisticated mentally.
Prepare for the game
First, they give you the right to enter and close an order after as long as 30 seconds or just seconds. This alone is enough for you to kill yourself. Then, there are dozens of currency pairs (including those that even Forex traders do not want to get involved in), and dozens of available indicators.
That’s how the brokers become innocent. They don’t put their hands in your pockets to steal the money! They even give you a nice and great gun with loaded bullets. It is you who hold the gun to your head and pull the trigger.
That is the speed trap of Fixed Time Trades
In that spiral, the first hard thing is you have to be sure of the order closing point. A freaking retest can also cause losses. The next hard thing is speed. Brokers offer us orders that last only a few minutes or even seconds. We think that it is “the privilege to make a quick profit”. But no, it is actually “the right to regularly pay money to the floor”.
Once again, I will repeat the quote at the beginning of the article. A reputable broker has nothing to do with fraud or tricks. You may be no more than a kindergarten kid in the middle of the trading battlefield. Platforms offer you access to a motorbike with hundreds of cubic centimeters that will make you fall off the cliff. Your fall-off will be even better than the action in Hollywood blockbusters.
So which is the right approach to Fixed Time Trades?
The speed trap is an intentional tactic of brokers. If you are serious about trying it out, make sure you understand this.
What should we do? I will repeat a few chants which have never been never redundant:
Discipline, discipline, and discipline. I often say this to my trading friends: Win within the scenario and lose within the plan. That plan is the amount of loss you allow yourself to lose on every trade, every session, or every day. And ABSOLUTELY DO NOT EXCEED THAT.
– Always be on guard. The market has to go along with your scenario, creating the right system conditions. If it isn’t for the condition, it is the market that lets you down. Take your finger off the mouse! This habit both makes you not confused about your knowledge and cools your mind down a lot.
– Aim for orders with larger time frames (although most platforms do not offer a high profit rate when trading with large time frames). Personally, I’m still trading on the M5 frame. But I had to force myself with the 15-minute time frame on my DEMO account for quite a long time to cool my head down.
This is my view on Fixed Time Trades. And you, what do you want to share? Let’s talk about it in the comment section. Goodbye and good luck.