Big Benefits to Trading the Longer Timeframe Charts

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#517: Big Benefits to Trading the Longer Timeframe Charts

In this video:

00:27– Coming to you from my favourite beach Awaroa 

00:53 – Daily trades taken, then off to enjoy life

01:23 – Too many traders get glued to the charts

02:18 – The benefits of trading the longer timeframe charts  

03:38 – Everyone can trade the longer time frame charts

03:50 – Book a call with me and my team - https://theforextradingcoach.com/call

04:56 – Blueberry Markets

In today's video podcast, I'm going to talk about why I love trading the longer time frame charts or the benefits that it gives you and the results that it give you, too. Let's go into that and more right now.

Hey there, traders! It's Andrew Mitchem here, the Forex Trading Coach with video on podcast number 517.

Coming to you from my favourite beach Awaroa 

And today I'm going to explain why I like those longer timeframe charts. I’m at Awaroa one of my favorite places. It's coming up to the end of winter here in New Zealand. And just flown here today with my wife in the helicopter and just been to see some friends and now we're about to go and have a bite to eat for lunch on the beach. And as you can see, there's as two people here on the beach. That's it. And us. And why am I telling you this?

Daily trades taken, then off to enjoy life

Well, earlier this morning, I took my time. I took my daily traits for the day three trades day off the daily charts. Yesterday, I took a trade as well. And also one on the eighth hour charts yesterday. And then last night my time I took three trades on the 6 hours and that was it for my trading yesterday.

Reasons for trading. Those longer timeframe charts means you only need to look like once or possibly twice within a day.

Too many traders get glued to the charts

Unfortunately, far too many people get caught up into the problem of feeling like they need to sit there watching one minute charts and 5 minutes. Yeah, so 15 minute charts because they feel they should do they load their charts up with all these pretty patterns and it's just this complete utter information overload and clutter of dots and lines and arrows and different things on that chart because the brokers inundate you with all this technical analysis and you're convinced that that's what you have to use.

Real traders pretty much ignored us to that. And that's the difference, I suppose, between people who go into it and think they're going to find some magic formula with hundreds of patterns all over their charts and dots and lines and crosses and things, and people will actually look at candle patterns and and price action and use bigger picture analysis.

So, and strength and weakness, etc.. And that's there so many benefits of trading those longer timeframe charts. You know, people with families, with careers, with other things to do, travel, whatever it is, You can go and do that and trade full time and do really, really well from those longer timeframe charts. So I look at the charts always at 5 p.m. New York time and make my analysis they are based off the daily charts and beginning of each week of the weekly charts, beginning of each month of the monthly charts and every single day, daily charts.

And then I also look through 12, eight and six at the same time. And you can do that all in 15-20 minutes a day done. And then personally, for me, I look at the close of the sort of four, six and 12 hour charts which is at 5 a.m. New York time. You don't have to be at your chance at that time.

That's just what suits me that other that second time, because you're getting like two or three other time frame charts change over then. Longer timeframes,