When traders ask "what was your light-bulb moment in trading", I often say 2 things:
1) stop worrying about what other traders are doing and focus on yourself making sure you are consistent with the trading strategy as that's how you will get consistent results.
2) understanding multiple timeframe analysis.
Once I started focusing on myself and was consistent with my trading, I was able to review my journaled trading results and noticed by best trade setups happened when price has multiple timeframe correlations with both my enter timeframe and higher timeframe.
The main purpose of the higher timeframe is to help me determine if I should be looking for buys, sells, or staying out of the market. The 2nd purpose of the higher timeframe is to determine the trend.
Multiple timeframe analysis can be used on all trading strategies whether you trade supply and demand, support and resistance, chart patterns, or use trading indicators.
All we are trying to do is determine whether we should be looking for buys, or sells as this will help us increase the probability of our trade.
See Chart For Analysis. I also have a full break-down on my youtube: Moneyball Austin
1) stop worrying about what other traders are doing and focus on yourself making sure you are consistent with the trading strategy as that's how you will get consistent results.
2) understanding multiple timeframe analysis.
Once I started focusing on myself and was consistent with my trading, I was able to review my journaled trading results and noticed by best trade setups happened when price has multiple timeframe correlations with both my enter timeframe and higher timeframe.
The main purpose of the higher timeframe is to help me determine if I should be looking for buys, sells, or staying out of the market. The 2nd purpose of the higher timeframe is to determine the trend.
Multiple timeframe analysis can be used on all trading strategies whether you trade supply and demand, support and resistance, chart patterns, or use trading indicators.
All we are trying to do is determine whether we should be looking for buys, or sells as this will help us increase the probability of our trade.
See Chart For Analysis. I also have a full break-down on my youtube: Moneyball Austin