It’s easy to say and see, but many beinnger traders also have their money flow with the river
Just like the old saying “the trend is your friend”.
Yep, it’s a marathon, not a race.
There are hundreds if not thousands of ways to trades. Doesn’t matter as long as you come out in profit
I am the same as you John. I used to love scalping and I have tried it again and again so many times, but personally I cannot do it and I cannot do it years on end and be profitable, hence why I stopped and moved to the daily chart.
Hats off to those who can though, I do envy them.
I prefer to trade on mostly minutes and hours time-frame, quite works for me and i get better results on analyzing these time frames.
In order to minimise risk, trading at the opening time of the stock market is best for intraday trading. However, the ultimate choice of a timeframe depends upon one’s own trading personality.
That’s definitely correct. The exact reason why there are many timeframes available to trade. Everyone is different and have their own preference. No wrong or right answer here, it’s fine as long as you are comfortable with it and most important of all, can be proftable with it.
Hi Oliver_30, that’s lovely to hear.
Unfortunately not for me but I do know that works for a lot of people. So if it ain’t broke, don’t change it!
That is my goal to do what you’re currently doing! How did you decide on a good balance between your REITS and equities? Are you invested mostly in dividend stocks? Are you invested in gold, treasuries or bonds as well? Is this portfolio separate from your retirement portfolio or are they all the same?
The daily time frame is a favorable time frame for trading. In that time frame, many big traders use. And the signal of the daily time frame is very good. However, you need to use 4 hours time frame to filter the trade. For example, suppose you get a price action signal on the daily chart. Now you want to enter the trade, but your stop-loss is getting higher here, so you need to look at the swing point of 4 hours and set the stop loss below or above it. And money management will be much better.
I trade monthly and weekly as it suits around my lifestyle and cuts out the noise
I don’t use any other timeframe for reference though but of course, that’s another technique that can be used and it’s absolutely valid.
Totally agreed. Just have to do what suits you best.
Day traders will resume day trading after the lunch hour. Some traders begin around 1 p.m. EST, while others prefer to wait and resume trading closer to the market close.
It is very important to choose a time frame in trading. If the time frame is not right, then the result of your trading is not good. I use the daily time frame. And I use 4 hours to filter the trade. For example, suppose you get an entry point in the daily time frame. Now if you use the stop loss of your trade-in the daily, it is going to be much more pips. In this case, you can use the 4 hours time frame. You can use the same method for analysis. However, one suggestion is that if your psychology is not strong, it is better not to go to the time frame of the month or week.
Time is relative
Albert Einstein - “When you are courting a nice girl an hour seems like a second. When you sit on a red hot-cinder a second seems like an hour. That’s relativity.”
I trade when I have free time, since it is my additional income. But I heard that it is better to focus on London Sctock Exchange time. I don’t know if it’s true or not
It is very important to choose a time frame to get good trading results. If choosing a time frame is not good, then making a profit in trading is a big hassle. I always use the daily time frame for my trading analysis. And we use 4 hours time frame to filter the trade. I use a 1-hour time frame only when I need to manage the trade. The time frame is an important element of trading. If you use a daily time frame for scalping, then the trading result will not be good. For this, it is better to choose a time frame wisely.
Thank you for writing it so succinctly. I have this concept of opening a long and short on the same pair but on different time-frame; but another side of my brain is telling me it don’t make sense.
Thanks for clearing this viewpoint!