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Multiple Time Frame Analysis Can Make Yo…u a better trader

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Multiple Time Frame Analysis is used by many traders because it gives them an edge in banking profits. One thing you don’t want as a trader is tunnel vision which usually happens when a trader only focuses on one time frame. Multiple time frame analysis is where you take into consideration what is occurring on other time frames that may have an effect on your position.

We’ve all forced trades that were marginal at best all because we thought we had to place a trade. Imagine now that your trading system sets up a long trading opportunity but you are confronted by a swing level on a daily chart that has rejected price multiple times…and with greater strength each time. Your probabilities are lower for a successful long trade and you would be forced to sit out on the trade.

Consider changing your job title from “trader” to “risk manager” and you will start looking at markets a little differently.

There is a very simple action you can take that will not only increase the chance of taking winning trades, but can also keep you out of what will probably be a loser or at the very least, having you sit inside basing action as traders decide which way to play; Use a multiple time frame trading approach.

http://www.netpicks.com/multiple-timeframe-analysis/ - Read more


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