November 1, 2011
- in Uncategorized by schooloftrade
Day Trading Multiple Time Frames
Day trading with multiple timeframes is one the most important aspects of my trading. Multiple Timeframes simply means that I use a combination of different chart timeframes to tell me the direction of the trend, the specific locations I want to trade, and then the exact time I will enter and exit the trade.
The multiple timeframes that I use are typically range charts, starting with the 89-range chart, then the 34-range chart, followed by the 13-range chart. As a client of mine I will show you exactly which timeframes to use, and why.
The key to our trading this morning was the use of these multiple timeframes. The Russell started in a downtrend, but our slower timeframes gave us the clues we needed to make a plan of attack.
My slowest timeframe showed me DIRECTION. My medium timeframe showed me LOCATION, and my fastest timeframe showed me ENTRY trigger and STOP LOSS placement. Again, I will teach you how to use multiple timeframes in every training we do with members.
Multiple Timeframes for Market Sentiment
