Forexmospherian , I noticed that you use phrases like" hour change , "half hr change" , "at the end of my time window " , " highs or lows stopping 9 minutes to hr " , "next time window in 6 mins" etc. Sounds interesting , new to me. Would you expand on this , how this effects your decisions?
Regards,
Dezo
Re 30/60 min frame changes and Time windows. I work on the basis that I am ideally after trades that last around 15 mins to 30 mins. I therefore use time and time windows to give me additional clues on whether to enter or exit trades.
My main tine window is 9 mins either side an hour change and then my secondary one is 9 mins either side a 30 min change.
If you look on any charts - normally interim highs and lows - and even major highs and lows will normally end in those time windows - so in effect narrowing the 60 mins down to 36 mins and then it can be narrowed further down into the 9 mins either side the actual change of time
The reason for this is purely down to the logistics of money entering and exiting the market. All the small stakes go any every minute of the hour -- but normally the larger money is held for time window entries
We all know a 4 hr chartist will comment on his close of his brokers candle - whether price will carry on etc - but really the only time frames common to all around the world is the one hour frame and under.
That's why the hour frame is key - even daily frames change at different times according to were you are in the world.
We must also remember that the past is the past and although it can have a bearing on the future - why should it ??
So therefore price might drop for several days on a currency pair and then just one minute into a new hour frame - some large player dumps a "yard" or two and then the whole PA changes and price might then go up for even a month or quarter - until the rest of the market change it and the player takes his profit ;-)
Because I concentrate on trades under 15 -30 mins - ideally going over 7 -25+ pips - I can get tight stops and great RR's ie 2 to even 6+ all in just a small period - allowing me to take multi trades on multi pairs throughout the key trading times of the day - ie European Open to just after London Close.
With correct advanced MM - "multi" short time day trades with very tight stops will give you the best financial results - and make swing and longer term trading look so inefficient.
The main trouble though - is that you have got to be able to scalp and understand the market structure and PA in "minute" detail and that will take years to get to a good level - and then you have keep monitoring to notice changes - due to new robot timings and new tricks used by the liquidity providers.
I do get the big picture off all the larger frames - but when you are chasing just 7 -25+ pips in under 30 mins the best frames to assist are the tick charts and all frames up to 10 minutes. Yes the 30 min and 60 min are used - but for the accuracy I require - ie I don't want to be in profit by say 18 pips and then see it go back 12 pips all within 15 mins - I am at least 70% of the time on the 1 -3 min frames for my trades.
Hope that helps
Regards
F
