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Well, it all starts with what you want out of life. For more on this subject, see the article I wrote here. Save my name, email, and website in this browser for the next time I comment. In the past I have been trading the lower time frame but through so much trial and error , decided to move to 4 hrs and Daily. I am much profitable now after the switch. I recommend all new traders to start with the Daily Time Frame.
The 4 hour and daily time frames take some getting used to but they really do make all the difference.
I have a few other lessons and articles I want to get out before that one, but stand by. Can i ask you which broker do you use for trading? I used to practice on lower time frames but now gradually switching to higher time frames especially Daily. Will that conflict with my decision making? In a few weeks I am hoping to take the full Price Action Course. Thank you. Let me know if you need help with anything else. I have burnt my account twice. I wonder why so many brokers want people to trade the smaller time frames?
Maybe you could do an article on that justin? Trading daily chart and looking for opportunities in the 4hr chart is the thing. Thanks Justin for the insights. Then once all of the noise is gone, we swoop in on the higher time frames and make our decision. I am a member already, but I am certainly glad I read this lesson.
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I use to trade 15 minute TF. You are right about the higher time frames. I have been going thru all the lessons and I have been very careful not to trade until everything is right. So I know I will be trading less, and making higher profits.
Daily time frame forex trading strategy
All of your lessons have made so much sense and I am still learning. Thanks for your wisdom in forex. I am hoping to be a very profitable trader. Daily time frame is the best for me because it gives more accurate setups and I can have whole day not watching on the chart. Then once all of the noise is gone, we swoop in on the higher time frames and make our […]. This has been a major issue for me in my trading life. A typical period would be a few days or maybe a full week if trading from the daily time frame. This is true even if you are trading the higher time frames.
U really answered my question and at the same time solved part of my trading problems.. Interested in Cryptos? Join My. Free Crypto Newsletter! Acts as a Natural News Filter It goes without saying that the range high and low of each period on the daily chart is greater than each period on a 5 minute chart. Trading the Higher Time Frames is Boring. Why are you trading Forex? You know bro you made me realize that the daily is where people should be trading at.
I used to trade the 1hr but I was like man, I have to check every hour. I never trade under 1hr, but everything starts to make sense now, I used to think that once I enter a trade then the next candle it goes the opposite way, that if I waited longer that it will go back, it fluctuates and I want to be a long term trader now, not a scalper.
Just like everything in life, in the long run it will be worth it in the end. Thank you for this article, you changed the way I think and suppose to think and cut all the myths. Thanks for your feedback. I think the lower time frames are attractive in theory — more price action, more opportunity.
Less involvement means less emotional intervention, which therefore makes a less stressed trader, and a better outcome from your trades. You have changed my trading outlook. I made and lost money on the short trading timeframes. I did not understand why; but going through your articles, it is clear that swing trading with price action is king; Thank you. Very well reasoned Dale.
I am in the lower time frame camp at present but I really have food for thought after reading this article.
Multiple Time Frames Can Multiply Returns
How do you feel about doing a top down approach? For example, checking the daily chart for price action, then going down to the 4H or even the 1H for possible entries? I am Forex trader for last 3 years, still learning, studying. I m good at money and risk managment, so it always saves my ass. So I decided to stick with this and do whats working. Good luck to all traders. Your explanations and trading wisdom help me to make my trades more profitable and less stressful.
May God bless you sir! As an option trader, which broker do you use? More so, what time frame do you employ? Thank you so much for your fantastic article! Your email address will not be published. Save my name, email, and website in this browser for the next time I comment. Skip to content. Today I am going to put out some fires, and alleviate some of the concerns you may have. Checkpoint Trading with strategies that use low time frames require you to sit in front of the screen for too long and can lead to a mental burn out. Time frames like the daily chart require you to spend much less time in front of the screen — therefore preserving previous mental energy and discipline.
Checkpoint The Forex market is a continuous 24 hour market that only closes on weekends, there is absolutely no reason why you need to close all your open trades by the end of the day. Thanks very much — I wish you continued success on the charts. Highly appreciated. Hey Harry, Thanks for your feedback.
Trading Daily Weekly Multiple Time Frame Moving Average for Massive Profits
God bless you sir! Leave a Reply Cancel reply Your email address will not be published. Click Here for Spread Discounts. Review Cart Toggle Menu Close.
No products in the cart. Toggle Menu Close. Further reading: Why higher timeframes are not easier to trade. The top-down approach is used by many traders and performing a top-down analysis can be very helpful when it comes to determining trade opportunities and creating a trading plan. At least once a week, a trader should take a look at his Monthly and Weekly time-frames to understand where current price is in relation to the bigger picture or whether price is approaching important support and resistance levels.
Further reading: How to perform a multiple timeframe analysis. Using the higher time-frame as a directional filter can also improve the quality of your trades.
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For example, a trader can only choose to trade in the direction of the trend that he can identify on the higher time-frames. The lower time-frames are then used to time the entries and to find trade signals based on the trading methodology. By going with the overall market direction, a trader can often realize much smoother trades and avoid getting whipsawed in counter-trend situations. Save my name, email, and website in this browser for the next time I comment.
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