Never trade against the larger trend?

I read somewhere that if you are trading via the 15 minute chart that you should first check out the daily chart. Someone said this is to make sure that you are not buying against the larger trend. Is this good advice?

Yes , but there are other reasons to go to larger charts first. It's good to know where upcoming resistance and support points will be. Amongst other things.
No point going short on your 15 minute chart if your about to hit the all time low!

swing traders trade against the major trend at times. depends upon your system. "absolute" rules seldom apply to every system. I have been trading a simple crossever trend system and it often requires I go against the daily trend even on the 3 hour chart. these trends are tradable.....

I use Fibonacci to trade against the larger trend but usually I'll use it to get back into the larger trend.

Good idea.

Hi epiphany,

Can you explain, with a chart preferably, what you mean please.

PS: I love your name!

Sure you can, I sometimes trade the one minute chart when the 5-10-15-30 and 60 minute trends are totally opposite. normally I usually scalp 3-5 pips.

My trick or treat trade.
The attached chart is the 1HR USDJPY. I did a fib study for the high and low for Fri. Oct. 27. I shorted at 117.75 because of the bounce off the 38.2 and on the 15MIN there was an Evening Star. Using the 200EMA and the .00 as resistance I set my S/L to 118.25. First target 121.4 Fib Ext, second target 138.2 Fib Ext. In the end the trade closed after I moved my S/L to 116.85 (the 121.4 Fib Ext).
Isn't it interesting how it hovered around 121.4 and tested the 138.2 ?!?!
In hindsight I should've waited for the bounce off the 50 but the Evening Star pulled me in. From what I learned in this forum 50 is the number many big guns seem to use.
This could've also been traded as a 123 pattern.

Thanks, originally I was gonna use cmopips (C for my first name and MO for my last name. Kinda like J.Lo for Jennifer Lopez) but I decided not too.

Attached is the USDJPY 1HR for Tues. Oct 31. Using the same method as above EXCEPT this time I was patient and shorted on the bounce of the 50% Fib Retracement. Just like the other day. Look how it hits it perfectly. History repeats itself. One problem NFP coming out. Lots of indecision. Never reached my targets got out at 117.00.

Horace, sorry for the late reply. I didn't check this thread till today.

If you ever have the chance to hear Raghee give her class on her style of trading (i think it's just raghee.com or .net??) you will have a great time. She is a wonderful instructor and has many years of experience. She holds the belief that the trend starts with the stream, then to the river, then to the ocean. When she looks at a chart (she trades mainly the 30/60/180/240), when she sees a set up on say the 30m chart, she is not concerned with the others. If all her entry criteria on that one time frame is met, she is in the trade.

: ) Thom