method do you advocate using just the daily
Hi Long ive just bought the colour trading method do you advocate using just the daily .
you can use all time frame
but I recommend daily time frame
traders trading on the lower time frames.
but more reliable setups and grant more time to think about your trading decisions
The advice to trade daily time frame is usually given to new and
inexperienced traders with the rationale that higher time frames are less noisy and losses
because of less danger of sudden price moves and smaller impacts of news releases,
News releases will have a significant impact on trades taken
candlestick chart all included
in a short time frame
the small stop loss and take profit distances mean that short lived,
but strong news triggered price moves can take you out of your trade within minutes
and close monitoring of upcoming news events is essential being a day trader.
The key to being a successful trader is finding a pfofit and stop-loss level in the daily time frame
by simplifying trading system and trading only daily time price charts
you will find a way to capture profits regardless of market direction
or economic climate. and easier trade more than short time frame
and you can step by step through the entire process.
all you need to have on your charts. Sometimes a candle forms on the chart
the way that it tells you what direction the market will take “at least” for the next day
You can only focus on some special signals that are the strongest, and forget the rest.
This is what I do too. I look for the strongest signals and ignore the rest.
That is why my success rate is high.