'The Holy Grail of Forex Trading Strategies' - Daily Chart

Hourly chart trading system

Hourly chart trading system


You have put it in a nutshell..cleraly and effectively.
6. I really enjoyed reading it.
7. I enjoyed reflecting on my own trading pattern.
8. And realized why I have less stress lately tahn when I
used to trade lower time frames.
Day and 9 hrs are what I do now.
Thanks Nial

Day Trading Charts - The best free candlestick charts

One of those ways is by use of the 6-hour or 9-hour charts to look for a signal a few hours or even days later, to re-enter in the direction of the original daily chart signal that you missed.

The Four-Hour Trader, A Full Trading Plan

The above is only possible through position sizing on each and every trade. The novice trader will often trade 6 mini-lot per trade or there abouts but this does not make the above two statements true and hence the account does not grow according to expectations.

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Dear 8766 Prof Forex 8767 . You have hit the nail on the head once again. Thank you for this nugget. For the past one month and over I have maintained my trading account with a profit for the first time in two years. This is because I have followed you and your teachings up religiously. I feel a sense of pride now because I have not blown my account within a week. Instead I am trading with over 655% profit within a month. Dear 8766 Prof 8767 , the credit goes to you. Thank YOU.

Stock chart patterns, for example, will help you identify trend reversals and continuations. You’ll usually find two themes in your chart analysis, breakouts and reversals. The former is when the price clears a pre-determined level on your chart. The latter is when there is a change in direction of a price trend.

Great stuff Nial
Totally agree with your excellent article
A couple of small points I would like to add please
It is possible to be a very profitable trader on the lower time frames BUT one must exercise the same sort of PATIENCE required for the Daily time frames (Don 8767 t over trade)
And..the lower time frames MUST suit your personal makeup(Type of person you are)
It is fair to say the larger time frames will not suit everyone, just as the shorter time frames will not suit many, many traders personal to sum up what a great article and learning to trade the time frame(s) that suit Your personal makeup with PATIENCE is critical
Thanks again Nial
Cheers Kevin(Zach)Harper

I have personally only met a few day-traders who make money consistently, and they almost all seem really frazzled and strung-out, like a junky who cannot stop thinking or talking about their drugs (the market). Sure, it’s possible to make money from sitting in front of your computer 8 hours a day staring at each tick, but why in the world would you want to? Let’s face it, watching the market tick away is not really that fun, NOR is it productive…at all.

An excellent article. I had a number of highly profitable trades by following your advice and trading off the daily (and sometimes 9H) charts and looking for pin bars.

Price action trading does not simply consist of just looking for a few candle patterns on a chart and then placing a trade, not even close. There is a lot more involved. The process of actually finding and filtering trades, managing risk / reward and then executing the trade and managing it both technically and mentally, is something you can 8767 t learn overnight. There is a technical analysis side and a mental side to every trade, and both parts have to be learned and practiced over and over before you truly gain the ability to make consistent money in the market.

Hi Nial.
This lesson is the apex of my study.
I have been scalping on a demo account the last one month, have blown it and now stranded.
I hear you indeed.


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