Higher Time Frame Forex Trading Tips

Higher Time Frame Forex Trading Tips

FREE | Daily VIP Forex Trader Growth Email

In this Bangkok Forex trading vlog, I share with you one of the hardest things to accept in trading and business. How you react to this determines your long term success. Vlog #440

Read Full Transcript

- After you can do this for some time you get to do your trading stuff only when you need to and you don't waste time on the trading part.

What's up traders welcome back to Bangkok. Today I want to show it to you some tips I have for how higher time frame trading. So when you want to trade on a higher time frame and enjoy life at the same time those are going to be the best tips and those are the things I've been able to learn over the past almost six years of trading higher time frame and this is definitely my favorite 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 define higher time frame trading because there are two terms in this that can be easy to flip around to misinterpret. So the first one is higher time frame. What does that mean? So I go through everything beyond one hour chart to be higher time frames and that could be different for different people. I believe that build that's called digiting but does higher time frames the same as twin-turning for me. But I also believe with the word trading that ... Like trading is not trading to match a chart. That doesn't work for me. That's like the monthly chart is about investing. It's the long term. Trading the weekly chart is for me limit. I don't trade it myself but some people do it and they do it well. But I consider for myself higher time frame trading to be more like for the one hour chart to the weekly chart. Okay so I'll include these ones. A one hour chart's going to have a limit for me. Although I trade this one the four hour chart is more higher time frame for me than the one hour chart of course. The one hour chart's going 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 different than trading on time frame and you got to be able to adapt.

The first thing is you've got to be able to adjust your expectations of the type of trading. Some people think that they can make quick money trading. That they can turn a small amount into a big amount quickly and that just doesn't work when you trade higher time frame. It's gonna take more time. And it also means that when you day trade you can kind of attach yourself to a trade and look at it and watch it and keep track of it but on a higher time frame trade that cannot work because you have to be able to detach yourself if you want to enjoy life and not be miserable all day. You got to be able to detach yourself and do some things differently so you can come back with a fresh perspective on charts. So that for me took a long 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 is a skill you have to master. So detach yourself from the outcome. And also, if you've been trading 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 detaching yourself from the outcome. So understand that you might be 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 can not do anything to change it. That's just part of life. So that also took a long time for me to understand, but once you do it and once you get that part, it's gonna be much easier for you to sustain long hours and losses, and be able to recover faster and get back on track faster, so that's the first tip.

The second tip I have higher timeframe trading, and that works on both types of trading, you've just gotta be able to understand, is decide between whether you'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, and he taught me the difference. So before I was trading like every set up I could find, everything I could find in the market, with the same indicators that I was looking for. Now the thing with this is that you don't differentiate between the bounce trade and the reversal trade. So what I mean is a bounce trade, is a trade that's like quickly, it's like a move and then you trade the bounce. So the quick move and that price might fall back down. That's valid, you just have to understand that you have to stay private 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 able to know what to trade. Cause a lot of people are gonna 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 gotta be able to understand. And same thing goes if you trade trends. So people expect that they trade with a trend, all right, that they're gonna trade for 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 a little bit and fall back down and the trade movement will stop. So you gotta be able to understand the difference between both, and understand when they happen. This is gonna take some time for you to look at the chart and understand what happens when, look at the context, look at what is likely to happen with this. And test a lot, and then you'll start to understand, well in this context, because price 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'll actually profit more fast, and that's how I'm gonna be able to adapt to market context in that case. Cause that's really important, so find that, decide that for yourself, and use that technique to know what you're gonna trade. You could trade both, but understand when to trade each one, when to take profit on each trade. And for me that would solve a lot by taking partial profit, because I found out I wasn't the best at finding that out, whether this was a bounce or a reversal trade. And so taking partial profit allows you to kind of make sure that if price is gonna go far in reversal, you took some partial profit. If price is gonna go just close 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've gotta see for yourself. Okay, so that's my second tip. Decide between the bounce or a reversal/trend trade.

My third tip is you've gotta be able to accept the longer feedback loop and the drawn outs. So inevitably when you trade higher timeframe, the drawn outs will take more time, not necessarily more trade but more time, and the feedback loop you get will be longer. So if you divy up a whole statue right now today and you're super happy and you go in the market and trade it, well it might take like a month or even three months for you to get the results of that strategy, to work one out in the market, okay. So you've gotta be able to understand that. People that they trade, they might go in the market two, three weeks, and they 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 you like a quarter of a year to know if your doing things right and if your executing right which is fine it doesn't make 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 to master and to practice but its not that big when you get to understand it and when you practice properly okay so just understand that the drawn out will be longer and the feedback loop you 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 strongly reccomend you develop for yourself a set and forget strategy by that I mean that its not about just 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 to manage your trade which you could have to manage perhaps or only if you need to take another trade or see the chart okay for me its really more kind of step back set and forget in the sense that I enter a trade I put a stock for profit and the 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 anything different on those trades because that kind of my style that's how I like to do it and I just feel a lot better doing this than when I was looking at 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 something different on that trade, so that for me has been huge. You want to develop a strategy 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 your higher time frame trading which is supposed to be kind of off and more relaxed to kind of pretty much day 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 fulfillment so by that I mean its kind not really clear. But what I mean is do your trading stuff first in the morning whenever first means for you it could be at night, in the morning so you can prepare the day before 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 is unfulfilling, trading is something I love I find it interesting challenging and stuff, its good but I wouldn't do this all day so I have to mix trading first usually in the morning i'll look at my chart do my analysis and everything then fulfillment which means going out doing fun things meeting people and doing videos or whatever okay. And so that's something you want to focus on so do something about trading first and then do your other stuff outside okay and that's going to make your life much better and ultimately if you can do this for some time you get to do your trading stuff only when you need to and you don't waste time on the trading part which if you 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 well be focused and efficient in your trading stuff so go look at it quickly do it get it done then leave and do something different okay that's going to make your life way better so I hope that makes sense guys those are my five tips for trading higher time frames in forex.

Hope that helps, comment below as always below here are a few comments from the past few I appreciate you guys all the 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 always subscribe to Eitenne there's more videos like this every single day and I will catch you back here in Bangkok tomorrow Ciao

SUBSCRIBE on Youtube for a daily video!

Want to look cool? Check out the Desire To Trade Merch

About Me

My name is Etienne Crete (from Montreal, Canada). I'm a swing Forex trader (who has the chance to travel the world anytime) and help aspiring Forex traders develop a trading method that works for them so they can produce income allowing them to live with more freedom.

You see, a lot of aspiring Forex traders lack the confidence to pursue their dreams. I'm there not only to help you develop your confidence but also to implement the tactics that are proven to give you results. You'll develop Forex trading discipline and the other skills you need in NO time!

Ultimately, you'll get to experience what a day in the life of a Forex trader truly looks like, but you'll also have to be consistent with your Forex weekly review!

I produce a traveling Forex trader vlog and host the Desire To Trade Podcast. I was fed up with the “fake” millionaire traders and the “get-rich-quick-trading guys”. That's why you can expect more free content from me than what other people charge for!

All Products Used In This Video

Affiliate Links
Thank you for trusting me with my truthful and reliable opinion on any future purchase you may make. I always disclose this information when it is the case. As part of the Desire To TRADE family, you allow me to be able to use affiliate/referral links when suggesting items for purchase. As a customer of the products I refer, you help me sustain the time and resources to create content on this channel by generating revenue from your sales. This doesn't affect you in any way in the checkout process (I'm sometimes even able to arrange a discount for you that is special from other customers).

If you got value from this video, you might want to consider checking out the Desire To TRADE Academy where I’ll help you develop a solid trading strategy, implement the things successful traders do, and more! That's all going to be done while you build a lifestyle you love!

If you are wondering how to put together a solid trading plan for trading Forex for others, I recommend you grab my FREE One-Page Trading Plan Template. It will help you simplify your trading strategy on a single page!

I Need Help With

Higher Time Frame Forex Trading Tips