Big Benefits to Trading the Longer Timeframe Charts
#517: Big Benefits to Trading the Longer Timeframe Charts
In this video:
00:27– Coming to you from my favourite beach Awaroa
00:53 – Daily trades taken, then off to enjoy life
01:23 – Too many traders get glued to the charts
02:18 – The benefits of trading the longer timeframe charts
03:38 – Everyone can trade the longer time frame charts
03:50 – Book a call with me and my team – https://theforextradingcoach.com/call
04:56 – Blueberry Markets
In today’s video podcast, I’m going to talk about why I love trading the longer time frame charts or the benefits that it gives you and the results that it give you, too. Let’s go into that and more right now.
Hey there, traders! It’s Andrew Mitchem here, the Forex Trading Coach with video on podcast number 517.
Coming to you from my favourite beach Awaroa
And today I’m going to explain why I like those longer timeframe charts. I’m at Awaroa one of my favorite places. It’s coming up to the end of winter here in New Zealand. And just flown here today with my wife in the helicopter and just been to see some friends and now we’re about to go and have a bite to eat for lunch on the beach. And as you can see, there’s as two people here on the beach. That’s it. And us. And why am I telling you this?
Daily trades taken, then off to enjoy life
Well, earlier this morning, I took my time. I took my daily traits for the day three trades day off the daily charts. Yesterday, I took a trade as well. And also one on the eighth hour charts yesterday. And then last night my time I took three trades on the 6 hours and that was it for my trading yesterday.
Reasons for trading. Those longer timeframe charts means you only need to look like once or possibly twice within a day.
Too many traders get glued to the charts
Unfortunately, far too many people get caught up into the problem of feeling like they need to sit there watching one minute charts and 5 minutes. Yeah, so 15 minute charts because they feel they should do they load their charts up with all these pretty patterns and it’s just this complete utter information overload and clutter of dots and lines and arrows and different things on that chart because the brokers inundate you with all this technical analysis and you’re convinced that that’s what you have to use.
Real traders pretty much ignored us to that. And that’s the difference, I suppose, between people who go into it and think they’re going to find some magic formula with hundreds of patterns all over their charts and dots and lines and crosses and things, and people will actually look at candle patterns and and price action and use bigger picture analysis.
So, and strength and weakness, etc.. And that’s there so many benefits of trading those longer timeframe charts. You know, people with families, with careers, with other things to do, travel, whatever it is, You can go and do that and trade full time and do really, really well from those longer timeframe charts. So I look at the charts always at 5 p.m. New York time and make my analysis they are based off the daily charts and beginning of each week of the weekly charts, beginning of each month of the monthly charts and every single day, daily charts.
And then I also look through 12, eight and six at the same time. And you can do that all in 15-20 minutes a day done. And then personally, for me, I look at the close of the sort of four, six and 12 hour charts which is at 5 a.m. New York time. You don’t have to be at your chance at that time.
That’s just what suits me that other that second time, because you’re getting like two or three other time frame charts change over then. Longer timeframes, more time to figure out what’s actually happening. You’re not using emotions. You’re not rushing in to try and stupidly you’re looking at what’s really happening in the market and making your analysis. Plus, it allows you to go and do stuff like this.
I mean, look at this behind me. Absolutely stunning. Tide’s out quite a way right now, but it’s just I’m going for a swim, actually. Yeah. When I finish this. And it just shows what can be done.
Everyone can trade the longer time frame charts
You know, the other thing also is just to let you know is that so many people think that just because you’re on a longer timeframe charts, they cannot trade those trades, those timeframe charts with smaller accounts. And again, that’s not true also.
Book a call with me and my team – https://theforextradingcoach.com/call
So if you want to find out more what I really suggest you have a look at doing, If you’ve not already jumped on to one of our call sessions with us, go and book a call to speak to myself or Paul, Mikalai or one of our team, and I’ll put a link so you can do that about a sort of 30-40 minute conversation we’re happy to have for people who are serious about looking at getting into trading.
Don’t do it if you’re just they’re wanting like some some free stuff and you got no no real interest in wanting to learn for yourself. If you if you’re that they’re looking at trading as a serious option and you like to have a conversation with us to see how we can help you, to see if we’re a good fit, good match, because we value all of our clients.
We do everything we can to have our clients on board and make it work for them. So we’re really proud of that community. So we want to keep it that way, really vital for us that we have an amazing community of like minded traders from all around the world. So have a look at the link up here. You can book, have a conversation with us with Paul in America and Mikalai in London and some of the other team all around the world.
You know, you can pretty much find a time that’s going to suit you to have a chat with us.
Lastly, if you’re out there looking for a broker, have a look at Blueberry Markets. They’re based over across that water right there 3 hours fly that way or plane flight anyway in Australia and they’re a good bunch of people and obviously we markets and I started really impressed with them and MT4/MT5 lots of lots of different markets on MT5 as well.
So that’s it for now. I’m off to have some lunch, go for a swim and then fly back home. So I see this time next week. Bye for now