How to use multiple time frame trading for profit?
Let’s see. Now that we have a full understanding of why it is important to trade multiple time frames it is time for us to take a peek into how it is actually done! A lot of talk is not going to lead us anywhere. That is why we need to understand to know how to implement what we already know on the chart.
So. Have you already settled with the time frame of your choosing? 1-hour chart? Pretty good! 1 hour is a good time frame as it is not too slow and not too fast. Perfect!
Now. As soon as you have chosen your suitable time frame you need to go back a step and look at the next wider chart with a time frame broader in time. 4-hours. That way you are going to be able to see more of the current situation and it is going to be easier for you to determine a trend that you are going to trade in.
That means that you only need to focus on BUY signals that is given out by the chart. As soon as you have established that you need to throw some of the indicators on there in order to find a perfect entry spot for your current trade.
For that you might need to go to more tight time frame… 15 minutes is perfect. Looking at a small time frame chart as well as looking at the technical indicator is going to help you determine the best entry point for the moment.
And that is how you turn multiple time frames to you good.
Just remember that there is no point to completely lose yourself in dozens of time frames. Two, three tops is more than enough.
Just remember that the most important thing here is finding what is the best for you.
And in case you still have questions, watch this video! I hope it will solve all the difficulties for you!
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