This blog is geared towards improving my trading knowledge and recording my trades. I am not licensed to give financial advice. Trade at your own risk. It is your fault for losing in this money game.
Saturday, April 2, 2011
i will only use trendlines from a larger time frame. by doing this, i did increase a couple of the low resistance areas in the assets im curently watching. all time frames affect price, but the next larger time frame is what makes or breaks trends for the next lower time frame. when i was trading on a daily chart, i could see how daily trend lines mattered. but they usually dont matter much. whatever problems they cause are necessary when riding a trend. i have to get used to a little volatility here and there. if im not using a larger time frame's lines only, then i usually take on a bad risk/reward ratio with a small reward.
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