Let’s all agree that trading is not easy.
It is not easy to look at the chart, drinking coffee, follow all of the 1 billion of the oscillators, look at your trading signals, read all of the related news, eat your sandwich and follow the conversation with your colleague all at the same time. it is nearly impossible I should say.
What if I tell you that you are still not doing enough?
What if I tell you that you need to follow not only several oscillators and look out for all the possible trading patterns but you should also do it in multiple time frames too.
Why? That is simple. Very simple.
Imagine that you open 15-minute chart. And you look at the price consolidating and you decide to catch a few pips of a short and pretty trade and WHAM! The price shoots up as soon as you pull out and you are left in the pool of your own tears. Have that ever happened to you?
If you are trading multiple time frames, I would argue that this situation is not familiar to you.
Trading multiple time frames gives you a much bigger picture. It gives you much more possibilities. What is you are missing an important oscillator indicator? What is you are not seeing a pattern? What if the price just hit resistance or support level on the bigger time frame scale?
These are the question that you are going to be able to escape as soon as you start trading multiple time frames.