In this video:
00:28 – Why do I look at different time frame charts?
01:25 – You never know what the upcoming market conditions will be like.
02:01 – Trade summary and the high reward:risk returns.
03:50 – Look at the close of a candle.
04:04 – Masterclass and new course pricing.
04:40 – Blueberry Markets as a Forex Broker.
05:26 – More choice with more markets to trade.
Today, I’m going to share with you the reasons why I look at and trade multiple time frame charts, using results from just yesterday where we had a fantastic day of performance here at The Forex Trading Coach. So let’s get into that and more right now.
Hey traders! Andrew here at The Forex Trading Coach with video and podcast number 655.
Why do I look at different time frame charts?
A question I get asked by so many people is you’re always talking about different time frame charts. Why is it that you look at those. Why do you not just focus on, say, hour charts or 15 minute charts or 5 minute charts, like unfortunately so many other people tend to do, and there’s a perfect reason for that.
And now, right now, I’m going to put on screen and you should see it right at this point, the results and the performance that I had yesterday. And you can see this is across multiple time frame charts. There’s some daily chart trades there 6 hours and 4 hours. Now just because I’m looking at multiple time frame charts does not mean to say I’m spending hours and hours at the charts, just that, in fact, the complete opposite.
I’ve taken all of those trades just looking at the charts 2 times yesterday and that was it. And because I’m using limit orders, I don’t even need to be there when the orders get filled into the market. And so there are so many advantages.
You never know what the upcoming market conditions will be like.
Because you never know what the conditions in the market are going to be from 1 day to the next, or even 1 trading session to the next.
You have no idea in advance. And the advantage that I find is it gives me so many more options to look through and search for that high quality candle pattern that we’re looking for. And all of the trades that you see on screen were mentioned on our membership site and our forum site for our clients to follow, to learn from and also to earn from.
And it’s really important that you have someone when you’re learning especially or new system to follow from. So you can just see the results that would have happened just yesterday and run through those.
Trade summary and the high reward:risk returns.
On the daily charts. We had the XAU/AUD made a 3.4 to 1 return. So in other words, a 1% risk gave a 3.4% gain.
The GBP/CHF was from the previous day but closed yesterday, made a 3.1 to 1 and so again, those are longer time frame charts. 1) the XAU/AUD was on for in and out within a day, but it was a longer time frame chart. 2: The GBP/CHF took 2 days because it’s a daily chart, that’s what can sometimes happen, but both were high quality. High rewards are trades.
Then we had yesterday the 6 hour chart you would have seen on screen. USD/CHF made a 1.9 to 1, and then we had some 4 hour charts, which were all taken at 5 a.m. New York time. And as well as the 6 hour chart trade was and they were USD/MXN made a 2.7 to 1 the USD/CAD 2 positions, but combined 1% risk over 2.45% gain. We had a loss on the GBP/USD, which would have been 1% if you’re risking 1% and a positive 2.7% on the NZD/USD.
So you can see there the consistency that we had across all time frame charts, the reward to risks were higher. You know, the very lowest was a 1.9. And then they were all in the 2s and then the daily charts were in the 3s.
So in other words making 3% or 2% depending on the, on the trade and a minimum, that was for a 1% risk. Or if you’re risking half of 1%, you’re just literally half that. So it just shows the quality of the trades that we have setting up. But of course, if you’ve gone back to the beginning of the day, we had no idea if they were going to be 4 hour chart trades or 12 or 8s or 30 minutes. You know, it just depends on what showing at the time.
Look at the close of a candle.
But the advantages is, you know, when to look at your charts, because we only trade or look for a new trade on the close of a candle. So it’s really important that you can do that. You know, it was just a great day and it just shows what can be achieved.
Masterclass and new course pricing.
If you’d like to find out more, you can jump on to our masterclass. If you’d like to find out about our new pricing, we’ve changed the pricing. For the 1st time in 17 years, we are now offering a 12 month option. You’re going to get a lifetime access to the the video course support software, etc. but we’re giving 12 month access to our daily trades forum site and our weekly webinars and all recordings.
You’ve got the option to split that payment into 3, or you’ve got the option to just pay a little bit more and you get lifetime unlimited access to absolutely everything forever. So, really good options there.
And if you’re out there looking for a really high quality broker, because it’s important, of course, with your trades and a bit like the the trade yesterday we had on the XAU/AUD, a lot of brokers don’t offer that market.
Blueberry Markets as a Forex Broker.
So Blueberry Markets do. And and we saw those or that trade on Blueberry Markets on their MT5 platform and profited from the trade. And without that of course that was a 3.4 to 1. So 1% risk made a 3.4% gain. Now just imagine if you had known about that trade because we highlighted it, but your broker didn’t offer it.
So that’s another advantage of Blueberry Markets. You know, just a lot of different markets, not just XAU/USD but, you know, gold against multiple other currencies as well. And again, all we’re doing is highlighting the best looking setup.
More choice with more markets to trade.
The golds were looking like they were selling off which if you go and look at your charts they did massively. But the XAU/AUD to me was the best setup that we saw technically. And of course it worked beautifully. And you can’t argue with a 3.4 to 1 reward to risk from a trade that on a daily chart, was in and out of the market and hit profit in a number of hours. So if you’d like to know how we can help you to do the same, jump onto the masterclass or book a call with us.
I’ll put a link here, have a look at that pricing page as well, and any other videos or podcast topics that you have you’d like me to help you out and discuss with in the future. Just send me a personal email, Andrew@TheForexTradingCoach.com and I’ll see you this time next week.
Episode Title: #655: Stop Trading Just ONE Timeframe (Here’s Why)