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waterskiguy,

you said

 

"...most people do not understand how time frames work within each other..."

 

could you pls give us some guidelines, and better with examples to explain how time frames work within each other ? I found that is most important in trading.

If you really understand how time frames work within each other you can trade any system successfully. Pls share your expertise in this respect. Thank you in advance

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A lot of trade systems that have come out lately speak or mention somewhere in the sales "pitch" about "trading with the hedge funds, institutions, big boys, market makers" etc etc

 

The pitch makes it seems like if you know "the secret" you will be set free and have the keys to the vault - "just follow the big boys and you are all set".

 

There is some truth to that however it is not as glamorous or secretive as they make it out to be.

 

Here is the big SECRET ......

 

There are 3 time frames that move the market or determine turns in the market. They are daily, weekly and monthly.

 

Sure positions from the big banks, private large investment funds etc etc are taken on fast time frames like 30 min and 1hr etc etc BUT they are taken with the trend - they are taken within context of the market not against it.

 

Pull up a blank chart - the weekly - draw in your s/r lines at all the turns/ swings - those are your key levels those are areas in the market that will act like magnets.

 

Those swings/ turns were made BY HUGE amounts of accumulation or distribution - also known as buying or selling. The amount of buying or selling that went on at those turning points had to have been massive, much more then you or I could ever as a retail trader place on the line. So who was it that placed enough "orders" at those levels? You got it the "big boys, banks, private firms, countries ... etc etc

 

The turning points/ swings/ support, resistance levels on the monthly or weekly charts are key in trading.

 

Fine tune your entry on the daily or 4hr only in the direction of those charts, weekly for sure. The monthly not so important as taking a trade opposite to what the monthly is doing on a 4hr chart a lot of the time will be fine but alwyas make sure you use the weekly as your trend direction. ALWAYS use weekly.

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A lot of trade systems that have come out lately speak or mention somewhere in the sales "pitch" about "trading with the hedge funds, institutions, big boys, market makers" etc etc

 

The pitch makes it seems like if you know "the secret" you will be set free and have the keys to the vault - "just follow the big boys and you are all set".

 

There is some truth to that however it is not as glamorous or secretive as they make it out to be.

 

Here is the big SECRET ......

 

There are 3 time frames that move the market or determine turns in the market. They are daily, weekly and monthly.

 

Sure positions from the big banks, private large investment funds etc etc are taken on fast time frames like 30 min and 1hr etc etc BUT they are taken with the trend - they are taken within context of the market not against it.

 

Pull up a blank chart - the weekly - draw in your s/r lines at all the turns/ swings - those are your key levels those are areas in the market that will act like magnets.

 

Those swings/ turns were made BY HUGE amounts of accumulation or distribution - also known as buying or selling. The amount of buying or selling that went on at those turning points had to have been massive, much more then you or I could ever as a retail trader place on the line. So who was it that placed enough "orders" at those levels? You got it the "big boys, banks, private firms, countries ... etc etc

 

The turning points/ swings/ support, resistance levels on the monthly or weekly charts are key in trading.

 

Fine tune your entry on the daily or 4hr only in the direction of those charts, weekly for sure. The monthly not so important as taking a trade opposite to what the monthly is doing on a 4hr chart a lot of the time will be fine but alwyas make sure you use the weekly as your trend direction. ALWAYS use weekly.

 

Well Spoken !!!!

Each word written above waterskiguy is worth a milion

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  • 3 weeks later...
Well Spoken !!!!

Each word written above waterskiguy is worth a milion

 

Each word of waterskiguy is pretty much common knowledge, at least for an average trader. But just common knowledge won't make you a successful trader. Unfortunately, he has nothing else valuable to say for a year and 56 pages. Time to close the thread.

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Each word of waterskiguy is pretty much common knowledge, at least for an average trader. But just common knowledge won't make you a successful trader. Unfortunately, he has nothing else valuable to say for a year and 56 pages. Time to close the thread.

 

If its so common why didnt you write it yourself?, if he didnt have anything to say the thread wouldnt have 56 pages dont you think?

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I have said this before and I will say it again.

 

The amount of success you have with this system or any system comes down to your general knowledge of trading.

 

Every system has losses.

 

The "trick" in trading is not triggering into the trade, that is the easy part. The skill in trading is managing the trade

once you are in the market and learning how to manage the losses that will come your way.

 

I am giving you the entry method BUT how good you do will come down to your experience in general and how much

screen time you have under your belt.

 

Hi, Dear waterskiguy!!! I live in Uzbekistan. In forex I almost beginner, on this am necessary your help (I already in crisis - has enclosed on really 600 $ and has merged up to 300 $). I have read this thread almost completely. On this wanted with you to communicate, I since 7-8 months work and I study many strategy, but is useless. Is necessary profitable and safe strategy (or indicators). Once again I shall forgive, if probably help me, please! Mine mail: [email protected]

Edited by CFD-master
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Hi, Dear waterskiguy!!! I live in Uzbekistan. In forex I almost beginner, on this am necessary your help (I already in crisis - has enclosed on really 600 $ and has merged up to 300 $). I have read this thread almost completely. On this wanted with you to communicate, I since 7-8 months work and I study many strategy, but is useless. Is necessary profitable and safe strategy (or indicators). Once again I shall forgive, if probably help me, please! Mine mail: [email protected]

 

Trading is not easy - took me 3 full years before I got it then 2 more until I was consistently making $$. It is not get rich quick that's for sure. Never give up and you will make it but if you are new to trading you have a lot of homework to do. If you are losing then go to demo account until you really understand the markets and how to trade.

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  • 1 month later...
  • 1 month later...
Trading is not easy - took me 3 full years before I got it then 2 more until I was consistently making $$. It is not get rich quick that's for sure. Never give up and you will make it but if you are new to trading you have a lot of homework to do. If you are losing then go to demo account until you really understand the markets and how to trade.

 

@waterskiguy, nicely put.Trading is Simple but not easy.Entry is only a part of the whole.Its the trade management which brings the laurels for the trader, but the trade management like position size, scaling in/out/ stops, exits are often overlooked by many.Instead of searching for the holy indicators, its best to understand the mkt structure and auctioning process.Price action is the direct radar.Well to reach the level of an expert in any field it takes a minimum of ten years.And that too lot of hard work, sweat and blood.Increasing ones screen time wisely is the way.Once one gets to know what would work for him, then he can code his strategy.Even then mkt is dynamic and every system has its redundancy period, so evolution is must.

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Everybody needs different tools like everybody has a different face. They have to match your character. My work excellent for me but nothing comes for free, I spent many, many hours with testing the best for me.

Hermes

 

Very well said, hermes!! I am begining to understand this fact! It has been an amazing (also mostly stressful and furtstrating) journey. I hope I would reach that final destination point.

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