Slow It Down for Easy Day Trading Entries

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Using multiple timeframes to help you get the highest percentage trades

1. Identify the market properly

       a. Sideways market = slower timeframe (removes the noise/chop)

       b. Trending market = faster timeframe (more opportunities)

2. Today was a sideways, slow, choppy day in the market

       a. Slow down my charts

       b. Widen my stop

       c. Widen my targets (same low risk/reward ratio)

       d. More selective waiting for patterns

3. Today was a trending day, fast speed, higher highs, lower lows

       a. Speed up my charts

       b. Tighten my stop

       c. Tighter targets

       d. And look to let my final portion of the trade run

       i. Take a quick target and then let the trade run.

       e. Use the same low risk/reward ratio

Today was sideways, so we looked for a slower set of charts to see patterns:

– Start with my fast chart = 4 range chart (scalpers)(8-range)

• 4/8/Runner (6tick stop)
•  All patterns work!

– Slow them down to see different patterns

• Fewer, more power entries
•  Take a lot more time in each trade
• Won’t be the fast pace of the scalper
• This fits the personality of many of members
•  Use a 13-range chart (5-minute)

                    -8/16/runner (12tick stop)
                    -All the same patterns
                    -All the same rules

• 6-tick rule turns into the 10-tick rule
• 10 ticks of room to let the trade work

o Use a 21-range chart (10-15 mins) (34-range)

• 12/24/Runner
• All the same patterns
•  All the same rules
• 6-tick rule turns into the 14-tick rule
•  Universal method, same patterns means you can watch multiple markets
• So watch the crude, gold, Russell, es, euro, aussie, anything that moves!

o 30-minute chart (60/120/144)

• Pro’s watch 30-min charts as their fast timeframe, so do we.
• Do not have the ability to use a standard trade management
• Targets & stops are based on support & resistance
• Stops have three options

o Use the medium charts

o Previous swing-high/low

o @ the extremes (HOD/LOD)

• Targets are placed at the next levels of support/resistance