BRIEF Explanation How to Use GROUPS of TF's to KNOW Your Trend.
This was ONLY a BRIEF explanation on HOW to use GROUPS of Time Frames (TF's) to KNOW your TREND for the GROUP of time frames you have TIME to trade. It's often NOT a matter of the TIME you have to trade BUT RATHER is "less" or "more" RISK to trade. Especially, if you prefer to BE PATIENT AND WAIT FOR THE OPTIMUM SIGNAL TO MAKE YOUR TRADE.
GREED is a powerful EMOTION. If it's not kept in check, it has the potential to ruin you financially. In the beginning, be a TURTLE by keeping your greed in check by trading higher time frames while waiting for OPTIMUM signals with less risk USING "LOW" LEVERAGE. In the beginning, do not act like a restless rabbit (feeling like you must always be in a trade) allowing emotions from greed to reck any thought of calculated PLANS to trade more wisely.
ALWAYS use multiple time frames in GROUPS to gain insight in the STORY that GROUP of time frames intends to convey. If the story is NOT clear, then DON'T TRADE. In that case, look for another pair (ticker) that does have a CLEAR UNDERSTANDABLE STORY TO TELL.
BOTTOM LINE: Be the wise turtle to understand what you are getting into rather than being a restless rabbit wanting to jump in without taking time to gain valuable insight about what you're jumping into.
GREED is a powerful EMOTION. If it's not kept in check, it has the potential to ruin you financially. In the beginning, be a TURTLE by keeping your greed in check by trading higher time frames while waiting for OPTIMUM signals with less risk USING "LOW" LEVERAGE. In the beginning, do not act like a restless rabbit (feeling like you must always be in a trade) allowing emotions from greed to reck any thought of calculated PLANS to trade more wisely.
ALWAYS use multiple time frames in GROUPS to gain insight in the STORY that GROUP of time frames intends to convey. If the story is NOT clear, then DON'T TRADE. In that case, look for another pair (ticker) that does have a CLEAR UNDERSTANDABLE STORY TO TELL.
BOTTOM LINE: Be the wise turtle to understand what you are getting into rather than being a restless rabbit wanting to jump in without taking time to gain valuable insight about what you're jumping into.
Comment:
THIS PUBLICATION WAS "ONLY" BRIEF WITH NOT A LOT OF DETAIL. This publication was only to peak your interest with these indicators in the HOPE you might take the initiative to become a SMARTER trader/analyst.