In this video we’ll be using our higher timeframe Daily levels and seeing how we can trade with them on the lower timeframe charts.
Key topics from this lesson.
Just because we’re “Day Traders” does not mean that we HAVE to trade every day. Let the trades come to you.
As a Day Trader, we have to be okay with accepting losses. Losing trades will happen, it’s just a part of the game. Once you can learn to accept these, you’re one step closer to becoming successful. And as backwards as that may sound, it’s true!
A large range during the overnight session, will usually mean there will be a small range during the RTH session. And usually a small consolidating range at that.
(09:32) Just because a 5-minute candle closes above/below a Daily S/R level, does not mean that, the trend has flipped. The lower timeframe charts bring more noise with them than the higher timeframes. Always pay attention to the higher timeframe trend. Higher timeframe charts are great for weeding out false signals.