A Simple Tip for Reducing Entry Errors

bone

bone

This is obvious, but simplicity is beautiful and this tip works over the long haul.

For those of you who use technical analysis, from my experience looking at an instrument in charts with multiple time frames should reduce your entry error rate. It is almost always the longer time frame that introduces the moment of clarity.

For example, if your "bread and butter" trading system day trades using 2 minute time frame candles, a quick peek at a 60 minute time frame chart might keep you on the better risk/reward bias ( longer term price action skews or market control areas in "Market Profile-speak" ).
 
bone said:
It is almost always the longer time frame that introduces the moment of clarity.
More...

people, who trade 2 min time frame attempt to profit from the fluctuation within 60-min time frame, not just to go along with them...
 
I agree that longer TF are less noisy.
But to optimize an entry....
I increase noise.

For Intraday, a stretched 15m Chart.
Plus a 3 minutes one for entries.
 
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