Topic: Multiple timeframes is another means of getting better market clarity - page 2. (Read 378 times)

When you are so used to doing a thing, obviously that becomes easier to handle. There are a lot of people who have absolutely nothing to do and they still ended up with a result in the end. Why? Because if you learn what to do and do it for many months even years, then it becomes a second nature and you do it very easily.

There are way too many people who still do not understand what this means and what they should be doing, that's an unfortunate thing but I bet that it is going to be an easy thing eventually. Just realize that it is a life that's a bit harder on that side and you will be able to actually consider it as a good thing. I know people are looking at bitcoin as a way to make profit but you need to work hard to get there for sure.

Having multiple time frames doesn't matter, it depends on the price action of your pairs that you choose to trade. For instance, you open a long position of any coin and anticipate for it to go up, whether you are using 30 minutes, 1 hour, 4 hours, 8 hours, and 12 hours, profit will be made if it goes in your direction, what differentiate these time frames is the candle they produce respectively in each time.

Your target as a trader should be your support and resistance regardless of what ever time frame you choose to trade, the gains are going to be the same thing when you measure it and the same thing for loss as well.

Good to see that your trading system is working well for you. I have just started to learn more about the technicals in trading.
I guess it will take a while before I really figure out whats gonna work for me.
As for the timeframes, I mostly stick to 3 timeframes 1D, 1H and 15m which are ideal for me right now.

You should not be surprised my friend, these are strategies that are always instantly loaded upon opening the trading platform, so reading them are fast, just like glancing at a thing and immediately you know what they are and what they can do. Also, I believe you need more practice to actualize your goal of a good trading system.

But be sure to know that the trading system might not be the issue at times, many abandoned a good strategy because of that, not knowing that no strategy is perfect and traders can't be successful without proper money and risk management to complement the strategy. And good strategy could be one or more, it doesn't matter.

The topic title alone, just said it all because yeah you can't get a proper direction of the market without looking at the bigger picture of where the market is actually going, and trust me with a MULTI-TIMEFRAME analysis lets say for my own pick, i go with the DAILY, 4H, & 15Ms, you will have a good mindset free, how i trade with this timeframes is like this:

• DAILY TIMEFRAME

i use this timeframe to see the overall trend direction, now this is depending on what your setups or patterns you want to see in the DAILY to be like.

• 4 HOUR TIMEFRAME

when am done with what i want to see on the DAILY TIMEFRAME i drop down to the 4HOUR TIMEFRAME to look for my AREA OF VALUE some call it P.O.I(point of interest), P.O.I or area of value can be OB{order block} OR FVG{ Fair value gap} what ever thing you name your poi or area of value, when have marked out my poi or area of value i then drop down to 15ms

• 15ms TIMEFRAME

now this is the timeframe i take my entries and place my S.L {STOP LOSS} for good reward ratio, some can go down as deep as 1 Minute timeframe for entries.

I think it is quite obvious that market is a volatile thing and just one strategy wouldn't really work when trading, timeframe is the same because if you pick one that helped you today, could be bad tomorrow and you should be aware of that. This is why it makes sense to just focus on what you have, and not what you could have in the future if you are right, because you might turn out to be wrong.

Trusting even in yourself to be always right is wrong, certainly wrong if we are talking about others. Holding is better, because holding means you are not doing anything weird, you are just holding until it gives you profit and if you can wait for that to happen, no matter how long it takes, the result will be a profit, and you will be right in that regard.

That is indeed surprising to me because it's hard to believe that you can read strategies in less than 10 seconds.
But if it's working out well for you then I am happy for you. On the automation part I am impressed because I am finding ways to automate strategies myself.
Firstly, I am looking for indicators which can give me the right analysis and may be then I will try to automate it.

What I am confused with is that one strategy doesn't work for all coins/stocks and different timeframes.
I did find one strategy but it just worked on one stock and few coins and also just on one timeframe.
When I changed the timeframe the results were not so good.

This is not about trading with money but striving to maintain consistent winning. Even if you are trading with a little amount, it shouldn't give you a reason to lose it through careless trading.

I disagree with you on that. Although any trader could use one timeframe successfully if a good strategy has been developed for both short and long-term trading, yet in my experience, the two are better monitored and managed with multiple timeframes. Those who trade the long term with higher precisions can still combine 1M+1W+1D or 1M+1W+1D+4H or 1W+1D+4H.

It's because of the good success rate I shared it with you guys. And if you must know, I have a winning rate of about 85-90% monthly. It could be more if the market is strongly trending. I am a trend trader.

Handling 5 timeframes together is never overkilled for me and as a matter of fact, it's as flawless to the point that I conclude all the analysis in less than 1 minute. That must surprise you, but you shouldn't be surprised, my only time-consuming strategy which is Trendline has been automated, so it's easy for all my strategies to be read on each timeframe in less than 10 seconds.

Usually day traders give more important to time frames and for long term traders its not really helpful in any way cause the trend can be affected by other factors surrounding cryptocurrency market. However it's better to have alternatives instead of just sticking with one or just go with random time frames according to the market situation will be my preferable choice in short term trading.

I think 5 timeframes is an overkill but if it is working out for you then well and good.
I mostly stick to 3 timeframes which gives me a good insight of the market.
Also, sticking to just one timeframe is bad because it doesn't give us the overall picture of the market.
Anyone trading, should use at least 2 - 3 timeframes.

Trading can be done in different forms. Some can do the basic and still be profitable. Trading with one frame can be in the basic side of trading but if you think you are now ready to take more risk then why not add more and explore other jargon in trading? If you think this will make you earn even more. If you think lower time frame is sometimes better than the higher time frame then why not try it more often? But, you can still trade with a higher-time trade just in case the other won't work really well. It can serve as a back up you know. Not all traders are the same and maybe some can start or prefer lower time frame more than the higher ones.

So what are your overall trading achievements?
I think it's better to trim the analysis work to some let's say 2 or 3 most effective time frames just to open one trade, because the remaining 2 imo are just complementary.
For example, you're a scalping trader, the most effective analysis time frame is a 1 minute to 5 minute chart to analyze trend patterns, or a day trader's is 30 minutes to 2 hours.

TBVH (to be very honest) i am so amazed to read that you use 5 timeframes before making entry into the market, i wonder, you must have so much money or do you care about your winning rate that much because As Far As i remember, i never watched 5 timeframes to make any trade. all i do is, check the daily timeframe and monthly timeframe maybe sometimes, weekly too, but before doing that i prefer to analyze the market sentiments overall. Like, for now, weekly charts might be indicating a good profit because manipulation was its highs and still market recovered quickly and approached to $27k in that journey, i know that before every halving of BTC, there comes big dumps that might be manipulated or artificial ones but their occurrence does impact the profit ratio.

So, keeping that in my mind, plus the fundamental analysis too, i perform trading. still with DCA and stop loss. Even by following all of these indicators i never made big profits even mostly i have been in a loss. So, for now, i gave up on the market and doing holding.

Plus, i totally, I agree with your strategy plan, if you always stick to one strategy despite the knowledge of the overall market situation you will definitely going to be liquidated. So, i recently read a topic ->  I found a trading strategy that blew my mind! and every single member guided him to not rely on this single strategy only. But i think, things will become more complex when you chose multiple timeframes, well at least it becomes difficult for me, maybe i am not that much smart maybe i do not want to give it that much try. Well, looking forward to getting more from your experience. please next time share an example too.

I think it also depends on the timeframe that you want to trade in as well. Like for example if you check quicker timeframes, such as 1-3-5-10 minutes, that means you want to do intraday trading, if possible leverage, like x100 or something (advice to do lower) and maybe even as quick as buying and selling within 1 hour if possible. However, if you do 30 minutes, 1 hour, or few hours, that means you might be looking into longer term trades, like you can hold it for a few days at least, maybe as much as a week or more. The longer you keep, it becomes investment and not trading, because I believe someone who held something for over a month means they invested into it, that shouldn't be considered trading. So the timeframes on charts, should equal timeframe on when you want to buy and how quickly you want to sell.

I don't believe someone can be profitable trading utilizing only one timeframe. If you are a day trader, you must first examine the higher time time frame to identify the market structure and figure out if you are long or short, and if you are short, you must next examine the lower timeframe for a short setup. There are also occasions where a solid setup exists in lower tf but not in higher tf; I normally don't trade with such way. I know it works occasionally, but it fails the majority of the time. It is better to always look at the higher time frame while trading because it is stronger than lower time frames.

Switching in between is really that recommendable, you cant really just stay up on a single timeframe specially on to those earlies like 1m 5m 15m. Making out some positions basing with those lower TF
should really be that bias into higher ones because no matter how well you do put up those indicators on lower time frame but it doesnt correlate or fit out on higher TF's then it would be invalid.
You cant really be able to make analysis well if you do make out some comparison. This is why making analysis in between is recommended if you are really that trying to find for some good entry.
You cant really just having a single focus because it wouldnt really be that able to give out good results. Try to zoom out and you would be finding which one would be the
most sensible thing to be done.

Your use of multiple time frame is correct. Longer time frame is perfect to determine the trend movement long term so the price might dip on smaller time frame like hours or days because price is already pumping on previous month or weeks. Smaller time frame is perfect to use on determining the perfect price entry when you already determined the long term trend via long time frame.

Simply,

Long timeframe - Use to determine the general trend
Smaller timeframe - Use to determine a perfect price entry for your long time frame position

Interesting .

Hmm, Lookin forward now things are getting boosted in the trading discussion section. I do agree with you that two are better but in specific cases.


Timeframe, I do agree with multiple timeframe analysis but a person who is trade specific is not able to analyze different zones. A trader is always recommended to watch the daily timezone or even higher the lower timeframes are not for the day trader. This si the reason you need to be choosey in the timeframes because using non-required timeframes can greatly impact your trade efficiency.

This is actually a very good idea. Not only because you get better clarity but also because this ensures you know the trend of the market in all time frames. If you know both the long term trend and the medium term trend you know what are you doing in the short term trend as well. It increases your confidence and gives you confluences on any trade.

With different time frames, you will have different entries and different open times before you should close your positions.

If a trader can use different time frames, more potential entries will be seen and from some potential entries, a trader can choose a best one to open a trade. He can skip entries that contain bigger risk and only open a position with safest entry.

It will help a trader to have more possible trades and reduce waiting time between two trades. Like if I trade with 1-hour time frame, I will not have many chances to trade in a day because I have about 8 to 10 hours for sleeping.