"The strongest of all warriors are these two; time and
patience."
By Leo Tolstoy.
Monday, February 29, 2016
Thursday, February 25, 2016
FOREX THEORY
How to Do Multiple Time Frame Analysis to Find Better Entry
and Exit Points (Part 2)
You have to remember, a trend on a longer time frame has had
more time to develop, which means that it will take a bigger market move for
the pair to change course. Also, support and resistance levels are more
significant on longer time frames.
Start off by selecting your preferred time frame and then go
up to the next higher time frame.
There you can make a strategic decision to go long or short
based on whether the market is ranging or trending. You would then return to
your preferred time frame (or even lower!) to make tactical decisions about
where to enter and exit (place stop and profit target).
Just so you know, this is probably one of the best uses of
multiple time frame analysis – you can zoom in to help you find better entry
and exit points. By adding the dimension of time to your analysis, you can
obtain an edge over the other tunnel vision traders who trade off on only one
time frame.
Did you get all of that? Well, if you didn’t, no worries –
we’re gonna go through an example now to help make things a little clearer.
QUOTE OF THE DAY
"The key to success is to focus our conscious mind on
things we desire, not things we fear."
By Brian Tracy.
Wednesday, February 17, 2016
QUOTE OF THE DAY
"Every adversity, every failure, every heartache
carries with it the seed of an equal or greater benefit."
By Napoleon Hill.
Monday, February 15, 2016
FOREX THEORY
How to Do Multiple
Time Frame Analysis to Find Better Entry and Exit Points
No, we aren’t about
to break out into song like the Glee cast.
Here at
BabyPips.com, we’ve got our version of a mash-up, which we like to call the
“Time Frame Mash-up”.
This is where
multiple time frame analysis comes in to play.
This is where we’ll
teach you how to not only lock in on your preferred trading time frame, but
zoom in and out of charts so that you can knock a winner out of the park.
You ready? You sure
you can hack this? You’ve basically got a semester left of BabyPips.com High
School of Pipsology?
You don’t wanna
quit now do you?
Didn’t think so!
First of all, take
a broad look at what’s happening.
Don’t try to get
your face closer to the market, but push yourself further away.
QUOTE OF THE DAY
"The two most important days in your life are the day
you are born, and the day you find out why."
By Mark Twain.
Friday, February 12, 2016
"YOUR WEALTH IS OUR HEALTH"
HOW DO I GET ALERTS ON MY MOBILE PHONE?
When you subscribe to SSL FXGURU, you can set up your mobile
phone to receive alerts. Mobile/cell
phone alerts are optional but recommended to ensure you
never miss a trade.
QUOTE OF THE DAY
"No matter how far wrong you’ve gone you can always
turn around."
By Unknown Author.
Wednesday, February 10, 2016
FOREX THEORY
Why You Should Look at Multiple Time Frames When Trading
Forex (Part 4)
The ascending channel would have been even clearer on the
4-hour chart.
If you had looked at this chart first, would you still have
been so quick to go short when you were trading on the 10-minute chart?
All of the charts were showing the same price data. They
were just different time frames of that same data.
Check out another example of multiple time frame analysis in
our forums.
Do you see now the importance of looking at multiple time
frames?
We used to just trade off the 15-minute charts and that was
it.
We could never understand why when everything looked good
the market would suddenly stall or reverse. It never crossed our minds to take
a look at a larger time frame to see what was happening.
When the market did stall or reverse on the 15-minute chart,
it was often because it had hit support or resistance on a larger time frame.
It took a couple hundred negative pips to learn that the
larger the time frame, the more likely an important support or resistance
levels would hold.
Trading using multiple time frames has probably kept us out
of more losing trades than any other one thing alone. It will allow you to stay
in a trade longer because you’re able to identify where you are relative to the
big picture.
Most beginners look at only one time frame. They grab a
single time frame, apply their indicators and ignore other time frames.
The problem is that a new trend, coming from another time
frame, often hurts forex traders who don’t look at the big picture.
Friday, February 5, 2016
"YOUR WEALTH IS OUR HEALTH"
HOW DO I RECEIVE THE TRADE SIGNALS AND UPDATES?
We will alert you to trade by sending signals via SMS.
QUOTE OF THE DAY
"Let your imagination release your imprisoned
possibilities."
By Robert H. Schuller.
Wednesday, February 3, 2016
FOREX THEORY
Why You Should Look at Multiple Time Frames When Trading
Forex (Part 3)
What the hell happened? Hmm, let’s hop on to the 1-hour
chart to see what happened…
If you had been looking at the one hour chart, you would
have noticed that the pair was actually at the bottom of the ascending channel.
What’s more, a doji had formed right smack on the support
line! A clear buy signal!
Tuesday, February 2, 2016
QUOTE OF THE DAY
"You must have long term goals to keep you from being
frustrated by short term failures."
By Charles C. Noble.
Monday, February 1, 2016
FOREX THEORY
Why You Should Look
at Multiple Time Frames When Trading Forex (Part 2)
But dang, look what
happens next!
The pair closed
above resistance and rose another 200 pips!
Ouch! Oh well, too
bad!
QUOTE OF THE DAY
"Do more than you’re supposed to do and you can have or
be or do anything you want."
By Bill Sands.
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