As a developing trader with a proven track record of profitability over the past two years, I've encountered new traders struggling to determine their trading style due to overwhelming and inaccurate information in the media and a lack of proper guidance. In my opinion, the key to overcoming this dilemma is to view the chart as a storytelling tool that provides insight into market activity across various timeframes. Each timeframe offers different levels of detail, with larger timeframes offering a summary of immediate trends and smaller timeframes providing a more granular view. Ultimately, the timeframe you choose to trade doesn't define your trading style - your psychological discipline does.
To be a successful day trader, you must understand larger timeframes just as much as a swing trader needs to grasp lower timeframes. The most crucial factor to consider is which timeframe provides the most accurate story for your particular trading style. This can vary from person to person.
My EURUSD entry😎😎
Currently, as I await a new entry point for a position, I find myself enjoying trading within the intraday wave. I've observed that EUR has been producing new higher highs, and I plan to enter a long position at the new intraday demand price of 1.0665 with a maximum risk of 25 pips at 1.0640. In exchange for this risk, I expect a 160 pip reward at 1.0825. I will provide updates on this position.
To be a successful day trader, you must understand larger timeframes just as much as a swing trader needs to grasp lower timeframes. The most crucial factor to consider is which timeframe provides the most accurate story for your particular trading style. This can vary from person to person.
My EURUSD entry😎😎
Currently, as I await a new entry point for a position, I find myself enjoying trading within the intraday wave. I've observed that EUR has been producing new higher highs, and I plan to enter a long position at the new intraday demand price of 1.0665 with a maximum risk of 25 pips at 1.0640. In exchange for this risk, I expect a 160 pip reward at 1.0825. I will provide updates on this position.