PRICE ACTION FOREX TRADING

Why trade higher time frames?

 If you have just entered the world of forex you  probably are sitting at your computer making trades watching your account go up and down like an erratic gymnast. I know I've been there. Trust me you are not alone. Many kill themselves trying to trade this way. Trading off of lower time frames is mentally and physically draining. You can literally go CRAZY trying to map the market and make solid trades off these small time frames. Instead why not keep your sanity and your account and move to higher time frames. Higher time frames mean less time at the chart WOO HOOO!!! I know it is fun reading these charts and it becomes an obsession with some but you have to live your life. 

The Advantage of Daily charts...

Daily charts eliminate all the movement that creates fear in the market. You only have to look at your charts once a day and when a setup occurs on a daily chart you take the trade, you place your stops and your take profit and you walk away. Isn't that simple enough. Many traders overlook the daily charts and it boggles my mind why. Daily candlesticks show you the emotion of price for that whole day, opposed to say a 15 minute candlesticks that show u the emotion of price for just that 15 minutes. You end up starring at the computer screen rooting for the candlestick to go in your favor like a crazed football fan. Well if you want your life back move into the world of daily charts and you will see a drastic improvement in your trading. 

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