The only thing I still find tricky using the Daily charts alone is that most of the time when I have a chance to look at the charts there is a gap of about 1 hour since the new daily candle opens. Anyway I really appreciate the time you invest in sending articles that sure helps a lot us traders as well as your daily analysis. Thanks a lot for that. Thanks very much for your post! I remember when i started with forex beginning with a live account, i was happy with 20 pips. I did not apply any strategy, I just did something… Now, I have trades with profits of pips, above pips for sure… of course I do make losses too.
I do not make consistent profit yet, but I do know more than 3 years ago and do not lose my account at all, minimum is break even Thanks to you and your website I am now independent and not follow anyone anymore, I follow my intuition. I trade daily chart using 10,20,50 EMA, price action and I prefer engulfing bars and inside bars over pin bars. Somehow pin bars and not working for me, I learned your pin bar course, but it does not work somehow. Thanks, Fathin. I am also suspicious about broker hunting of stop loss that if some one do trade with daily time frame he has to hold the position for several days, by then it is easy for broker to manage to hunt his stop loss because the time available for the broker.
How do you cope with the gap up or down that against your position that can lead to loss more than the risk you have set if the gap up or down in monday is go beyond you stop loss? The more significant gaps tend to occur during weekends with major event risk. So the way to avoid those larger gaps is to become familiar with the event calendar and avoid holding over weekends where such events would pose a threat to your position s.
Hi Justin, Daily time frame trades, are they closed at end of day or stay open over a period of days. Good info. Great article and I actually started using the Daily and Weekly charts a lot more in my analysis and last week 1 June saw that 3 EUR pairs were consolidation at the resistance area of the Daily charts for days. I kept on watching them and they broke out above on Friday as I expected. The longer time-frames have their moments of excitement!! The higher time frames will open doors you never knew existed. Do you know how to make your site mobile friendly?
My blog looks weird when viewing from my iphone 4. If you have any suggestions, please share. With thanks! I just finish taking a course a friend of mine paid for me to take.
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MTI courses. Thank you again Justin for the knowledge. Truly Appreciated. Thank u Justin, I will pay special attention to daily time frame from now on. I just have to apply patience and discipline. Thank you for this post. I am new to Forex but could feel sincerity in what you said. I need expert advice at all times. Your writes up are full of quality. But it is not a must you must trade in one particular timeframe.
All depend on your trading style. And what you really need to do to fit in your strategy. You could be a scalper, position trader, day trader, etc. For a day trader, you must have the ability to act and react. Just understand what you are really doing and why you are doing it. No trading session is best and no trading session is worst. All depend on what you want. Weldone bro. Your Content about perfect trading strategy is very informative. A trading strategy helps business to grow up. To know more about trading strategy visit my website that works like yours.
Interested in Cryptos? Join My. Free Crypto Newsletter! Want to find a Forex trading strategy that works? What is it, you ask? Advantages and Disadvantages of the Daily Chart. Casey Ram says I am a newbie to Forex and started with lower timeframes. Thank you Justin, once again! Cheers, Justin Reply. Muthukumar says Wonderful Justin.. The daily charts certainly make things much easier.
Have a great weekend. Justin Reply. Geralddial says I am learning price action can you tell me all i need to focus on. Justin Bennett says You can browse through the various topics on this site or check out the full course and community at the link below.
Moshood says Hello Justin, thank you for all your insight and information, am learning from them, my gratitude. Many thanks Reply. Thanks for sharing. Margaret says Thanks Justin. Thanks Justin Reply.
Marcio Muniz says Hi Justin. Marcio Reply. Natan says Hello, Thanks very much for your post! Fathin says I remember when i started with forex beginning with a live account, i was happy with 20 pips. Justin Bennett says Thanks, Fathin. Harper says Hi Justin, Daily time frame trades, are they closed at end of day or stay open over a period of days.
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MIMI says Great article and I actually started using the Daily and Weekly charts a lot more in my analysis and last week 1 June saw that 3 EUR pairs were consolidation at the resistance area of the Daily charts for days. Robert says Good food for thought M. Kelechi says I will give it a try. Thanks for sharing Reply. Fola says This is great, this is the key to been a successful trader Reply. Sonnie says Dear Sir Does the daily time frame gap? I would like to know please Reply.
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Ade says i really love your article….. Ade says anyone who wants to lean how to synchronize monthly chart to 1minute chart should reply my post. Alfred says Thank u Justin, I will pay special attention to daily time frame from now on. John says Thank you for this post.
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Weldone bro Reply. Robustness of Strategies: Some mirror trading strategies may only provide good results under certain market conditions. For example, a strategy may perform well in trending markets but underperform in rangebound markets. Investors should test the results of a strategy in various market environments to ensure its robustness. Risk Assessment: Although it is straightforward to see if a mirror trading account is generating a profit, it is often more difficult to determine what risks were taken to make that profit.
Russian stocks were being bought through Deutsche Bank in Moscow with rubles , and the same stocks were being sold to Deutsche Bank in London for US dollars.
This effectively created a money laundering pipeline that went on for several years. This fraudulent activity should not be confused with legitimate mirror trading despite the misnomer in financial reporting.