Your 100% correct, Traders, Listen to R carter!
I made every mistake in the book and traded on a 5-15 min TF Derp I trade only via 4h,1h, and the 15h now, as a closer eagle eye for stronger trend…
All about the confirmation of 2-3 time-frame analysis at once.
Cheers bro! Guys and Ladies, Take this as an insight!
CharlieFX.
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I see no harm is seeing multiple time frames as it gives us better idea about the over all trend and short term trend of a pair. It make easy for me at least to trade in one direction mainly that is the major trend.
The thing is, there is no right or wrong way of trading as long as you are profitable. When it comes to creating a trading strategy, that is something you should do it by your self and test it, adjust it etc. till you get some positive results from it.
You must stick to your daily routine and keep it simple. Don’t use too many indicators, that will make your trading more complex. Multi-time frame analysis is good as you can get more confidence in your trade entry.
It is better to try this strategy on demo account if results are positive then try on real account otherwise keep practice in demo account to improve trading.
I have got to chime in on this thread. I have the personality of an animal. I cannot watch price action period. I need to identify my entry, which sucks, and I need to not look at how those bastards can trade against me. I do best puttin’ on a position, going to sleep or to work, and look at it later. I either win or lose. Too many emotions in my brain to watch the screen, even though it is fascinating. My personality totally goes against this game, Mr. Steenbarger would have a field day with me.
Na zdrowie,
Tim
Very good point of view, objective thinking, it deserves attention.
Practice on multi time frames analysis is not a bad idea . you can confirm trend with this strategy if rend is same in high time frame and low time frames you can do trading at this point , First apply on demo to see its effectiveness.
Yes actually all timeframe is important because provided information on certain time frame, but as trader also need adjusted style trading that wil to implemented in the market, swing trader use four hour timeframe and hourly timefrae is good already, but position trader might weekly and daily is preferable, and scalping usually use five minute timefarme.
Absolutely not, because multiple time frame analysis gives us overall situation of a currency pairs and we can set short term as well as long term targets and get benefit from all market moves.
Here is a daily chart as of yesterday for the EJ. The question I ask for today when I look at it is: what is todays likely direction? Yesterday was a push up into supply (I won’t start with the order block stuff here) and because of the structure of the market, and the way I read Mondays price action (across the Euro and British pairs), I think a bearish day today was a 75% likelihood.
2015-12-29_1131 - Hogarste’s library
So today, price opened and raided the stops above 132.25 to gather liquidity and dropped down to take out the low at 131.50. There was a very logical 20 pip range for entry between 132.25-132.45, with a minimum expectation of 3-1 reward to risk. I only list this as an example of how I look at multiple time frames.
2015-12-29_1144 - Hogarste’s library
It is very logical to ask ‘what will tomorrows candle look like based on today’s price action.’ I really do agree when people say that it’s much easier to trade with the direction of the daily bias then against it, and this is a really easy way to look at it. If you look at todays PA on a 1HR chart, price raided stops and very cleanly went into the supply area.
Use a higher time frame to see the general direction of the price. Use smaller time frame for entry point.
There is nothing wrong with using multiple time frames if you have created strategy which is working that way, if you don’t know is it working than you should test it.
By the way I want to recommend you to use longer time frames since you don’t have lot of trading time.
Hi, how can I find an exit point using multiple time frame analysis? Thank you
Hi,
Finding an exit using MTF analysis is as follows: If you have a certain strategy which you exit on the 1 hour chart at a certain point, if the same strategy appears on a higher time frame, eg. the 4 hour, then enter as per your rules using the 1 hour chart and exit as per your rules but the target should be on the 4 hour Chart.
I think it is good to see multiple time frames. To get strong analysis of market thee time frames will help a trader. If they stuck just on one time frame they can not watch what is in bigger timeframe. I go to low and high time frames to confirm my analysis then go for further trading.
It depends on your trading system; but in my live trading I use 2 time frames in a time (daily & h1).
Please I need someone to help me, I spent a time and times trading with my demo account, trying on all strategies that. I’ve studied at babypips, but till now many among my trades it fail, now I don’t know what can I do, please I need your advice. Thank you
Nothing is wrong or right until, you are only facing loss with your system. If you have getting profit then you can use any numbers of indicators or time frame.