Lets talk about timeframes.
I say this in my first post but for those that didn't read it. I want to explore it more.
I trade on higher time frames. You will never catch me dead trading a 5 minute gold chart. I might look at it, but I am never gonna trade it. Why, do you ask? Let me tell you why. If i post something on the 5 minutes time frame, what are the chances you are going to see it and have time to react? 0% chance.
Unless you are a master scalper, which you are not, I know very few. (Skullcandy is good to watch if you want to learn true scalping. I can't see his records, but his method is good, and he seems consistent.) You need to stay off anything but the hourly and above on gold. What does this mean? This means you need to leverage your account so that it can handle hourly swings. Four-hour trade? Make sure you can handle four-hour swings. I don't even bother worrying about anything under a 40-dollar move on gold. or 3-4k on Bitcoin.
Doing this gives me great advantages when it comes to long-term sustainability and money management. Also, I stress way less, and my hair started turning brown again from gray, annnnnd I didn't feel like I was gonna have a stroke every time I made a trade. Take a loss with a small lot? Who cares. Win with multiple stacked small lots? This is the way.
Vote in my poll.
I say this in my first post but for those that didn't read it. I want to explore it more.
I trade on higher time frames. You will never catch me dead trading a 5 minute gold chart. I might look at it, but I am never gonna trade it. Why, do you ask? Let me tell you why. If i post something on the 5 minutes time frame, what are the chances you are going to see it and have time to react? 0% chance.
Unless you are a master scalper, which you are not, I know very few. (Skullcandy is good to watch if you want to learn true scalping. I can't see his records, but his method is good, and he seems consistent.) You need to stay off anything but the hourly and above on gold. What does this mean? This means you need to leverage your account so that it can handle hourly swings. Four-hour trade? Make sure you can handle four-hour swings. I don't even bother worrying about anything under a 40-dollar move on gold. or 3-4k on Bitcoin.
Doing this gives me great advantages when it comes to long-term sustainability and money management. Also, I stress way less, and my hair started turning brown again from gray, annnnnd I didn't feel like I was gonna have a stroke every time I made a trade. Take a loss with a small lot? Who cares. Win with multiple stacked small lots? This is the way.
Vote in my poll.
TechKnow
TLV1.1 All Time Return:
44.5%
2