– After you can do this for some time you get to do your tradingstuff only when you need to and you don't waste timeon the trading part.
(whipping) (whipping) what's up traders welcome back to Bangkok.
Today I want to show it to you some tips I have for howhigher time frame trading.
So when you want to tradeon a higher time frame and enjoy life at the same time those are going to be the best tips and those are the thingsI've been able to learn over the past almost six yearsof trading higher time frame and this is definitely myfavorite way of trading.
So we'll jump right into it.
Let's get on with those tips.
Alright so I think before we go in I want to kind of definehigher time frame trading because there are twoterms in this that can be easy to flip around to misinterpret.
So first one is higher time frame.
What does that mean? So I go through everythingbeyond one hour chart to be higher time frames and that could be differentfor different people.
I believe that buildthat's called digiting but does higher time frames thesame as twin-turning for me.
But I also believe withthe word trading that .
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Like trading is nottrading to match a chart.
That doesn't work for me.
That's like the marketchart is about investing.
It's long term.
Trading to wiki chart is for me limit.
I don't trade it myselfbut some people do it and they do it well.
But I consider for myselfhigher time frame trading to be more like for the onehour chart to the weekly chart.
Okay so I'll include these ones.
A one hour chart's goingto have a limit for me.
Although I trade thisone the four hour chart is more higher time frame for me than the one hour chart of course.
The one hour chart'sgoing to be the cut off in my opinion.
So anyway I will share with you five tips that I've got for this type of trading.
It's going to be very differentthan trading on time frame and you got to be able to adapt.
The first thing isyou've got to be able to adjust your expectationsof the type of trading.
Some people think that theycan make quick money trading.
That they can turn a smallamount into a big amount quickly and that just doesn't work whenyou trade higher time frame.
It's gonna take more time.
And it also means thatwhen you day trade you can kind of attach yourself to a trade and look at it and watchit and keep track of it but on a higher time frametrade that cannot work because you have to beable to detach yourself if you want to enjoy lifeand not be miserable all day.
You got to be able to detach yourself and do some things differentso you can come back with a fresh perspective on charts.
So that for me took along time to understand.
That I had to kind of go away and forget the chart for some time, but over time the more you do it, the better you get at that.
And that's something that isa skill you have to master.
So detach yourself from the outcome.
And also, if you've beentrading for like two weeks, and you thought you would make money, don't be mad because it loses money, okay.
That's normal, that's part of life.
It's part of a trader's life.
So that's also detachingyourself from the outcome.
So understand that you mightbe putting a lot of work, lot of effort, lot of time in a trade, but as the trade goes, still be a loser and that you can not do anything further.
You can not be mad, you cannot do anything to change it.
That's just part of life.
So that also took a longtime for me to understand, but once you do it andonce you get that part, it's gonna be mucheasier for you to sustain long hours and losses, andbe able to recover faster and get back on track faster, so that's the first tip.
The second tip I havehigher timeframe trading, and that works on both types of trading, you've just gotta be able to understand, is decide between whetheryou're gonna trade bounces or reversals and trend.
And by that I mean that, this is something I learned from one of my first mentor in trading, one of our first coach, andhe taught me the difference.
So before I was trading likeevery set up I could find, everything I could find in the market, with the same indicatorsthat I was looking for.
Now the thing with this isthat you don't differentiate between the bounce tradeand the reversal trade.
So what I mean is a bounce trade, is a trade that's like quickly, it's like a move and thenyou trade the bounce.
So the quick move and thatprice might fall back down.
That's valid, you just have to understand that you have to stayprivate more quickly on this than a reversal trade where price comes back down and pulls back up.
Okay, that's different.
You've gotta be ableto know what to trade.
Cause a lot of people aregonna trade higher time frame expecting trade irreversible, but what they're looking at on the chart is a possible bounce, and a bounce is always shorter than a reversal.
Okay, so you've gottabe able to understand.
And same thing goes if you trade trends.
So people expect that theytrade with a trend, all right, that they're gonna tradefor long term trend, but then they don't understand that the chart that they're seeing right now is more likely to create a bounce trade where it's gonna bounce alittle bit and fall back down and the trade movement will stop.
So you gotta be able tounderstand the difference between both, andunderstand when they happen.
This is gonna take some timefor you to look at the chart and understand what happenswhen, look at the context, look at what is likelyto happen with this.
And test a lot, and thenyou'll start to understand, well in this context, becauseprice makes the same highs or this one's got higher highs, or whatever reason you decide, then it's likely to be only a bounce.
And that means I'llactually profit more fast, and that's how I'm gonna be able to adapt to market context in that case.
Cause that's reallyimportant, so find that, decide that for yourself, and use that technique to know what you're gonna trade.
You could trade both, butunderstand when to trade each one, when to take profit on each trade.
And for me that would solve alot by taking partial profit, because I found out I wasn'tthe best at finding that out, whether this was a bounceor a reversal trade.
And so taking partialprofit allows you to kind of make sure that if price isgonna go far in reversal, you took some partial profit.
If price is gonna go justclose and do a quick bounce, you took partial profit, so you're good.
So you can have the best of both worlds, but that's something you'vegotta see for yourself.
Okay, so that's my second tip.
Decide between the bounceor a reversal/trend trade.
My third tip is you'vegotta be able to accept the longer feedbackloop and the drawn outs.
So inevitably when youtrade higher timeframe, the drawn outs will take more time, not necessarily more trade but more time, and the feedback loopyou get will be longer.
So if you divy up a wholestatue right now today and you're super happyand you go in the market and trade it, well itmight take like a month or even three months foryou to get the results of that strategy, to workone out in the market, okay.
So you've gotta be ableto understand that.
People that they trade, they might go in the market two, three weeks, andthey say, oh this works, it's a good strategy like Trades, and they have a good result, oh I know how to execute it.
You have to hide that from traders, its going to take youlike a quarter of a year to know if your doing things right and if your executing right which is fine it doesn'tmake a big difference but you just got to be able to as we said in number one adjust expectations and this is going to be the thing you do in the market its kind of a thing tomaster and to practice but its not that big whenyou get to understand it and when you practice properly okay so just understand thatthe drawn out will be longer and the feedback loopyou get from the market will be longer as well.
Its going to take more time to get feedback from your trades which I these days don't mind at all it doesn't make a difference okay.
My fourth tip is I stronglyreccomend you develop for yourself a set and forget strategy by that I mean that its not aboutjust doing something and making money all the time its about, you enter a trade in the market and then you go away, then you come back only if you need tomanage your trade which you could have to manage perhaps or only if you need to take anothertrade or see the chart okay for me its really more kindof step back set and forget in the sense that I enter a trade I put a stock for profit andthe market will take care of it okay it could be right it could be wrong, it could be a good trade or bad trade but it doesn't matter just leave and you can leave it there and I tend to review my trades everyday just to see but I won't act I won't do anythingdifferent on those trades because that kind of mystyle that's how I like to do it and I just feela lot better doing this than when I was lookingat my trade all the time like everyday, every hour, every two hours every three hours, just trying to see what it was doing and trying to see if I had to make somethingdifferent on that trade, so that for me has been huge.
You want to develop astrategy where you have a set and forget approach where its like a system you do it then you're done okay and that's it, otherwise its going to be very easy to turn yourhigher time frame trading which is supposed to bekind of off and more relaxed to kind of pretty muchday trading where you look at everything all the time and you monitor everything and you're there all the time watching the chart which is not what most people want to have okay so that's pretty big.
And finally my fifth tip is go with trading first and then fufillment so by that I mean itskind not really clear.
But what I mean is do your trading stuff first in the morningwhenever first means for you it could be at night, in the morning so you can prepare the daybefore for the day ahead whatever but you do your trading stuff and then you do something that's going to fulfill you more.
So for me trading isunfulfilling, trading is something I love I find it interesting challenging and stuff, its good but I wouldn't do this allday so I have to mix trading first usually in the morning i'll look at my chart do myanalysis and everything then fulfillment which meansgoing out doing fun things meeting people and doingvideos or whatever okay.
And so that's somethingyou want to focus on so do something about trading first and then do your other stuff outside okay and that's going tomake your life much better and ultimately if youcan do this for some time you get to do your trading stuff only when you need toand you don't waste time on the trading part which ifyou waste that money trading and going back and forth looking at trades that's time wasted, that's time that you don't spend doing something fun okay and you might as wellbe focused and efficient in your trading stuffso go look at it quickly do it get it done then leaveand do something different okay that's going tomake your life way better so I hope that makes sense guys those are my five tips for tradinghigher time frames in forex.
Hope that helps, commentbelow as always below here are a few comments from the past few I appreciate you guys allthe time for leaving comments below those are awesome I read all of them if I can help in any way let me know also in the comments as alwayssubscribe to Eitenne there's more videos likethis every single day and I will catch you backhere in Bangkok tomorrow Ciao.
