New month = higher timeframe reset.
If you’re not checking the monthly chart today, you’re trading blind.
Here’s the exact framework I use at the start of every month:
@WelLdoOnEe Isn’t it better to focus on understanding which market will distribute higher or lower on the M/W time fram rather than sticking to one asset class?
As traders we make a return from expansions higher or lower therefor sticking to forex in my opinion makes it much harder.
Focus on creating processes and systems.
-Allocate a % of your income into low cost index funds each month.
-Have a budget for prop firms / personal capital. Aim for 3-5% a month. This compounds super fast (for personal capital)
-Review performance and progress every month.
Do you have a prop firm model to execute alongside your edge? Or are you just selecting 0.5/1/2% risk because you have seen someone on twitter say this is the correct risk?
Passing props. Growing private capital. It’s all a process.
Process is key.
You don’t need to look below the daily chart. Everything you need, narrative, dol, direction of next daily candle, entry, stop loss and exit can all be found on the daily chart itself. How many show a ltf chart like this and make you think there is some secret behind it😅
@I_Am_The_ICT Yes. Knowing where it’s going. When it will move and how it will get there. Then entry comes at the very end and to be honest matters the least. Reviewing losses am having a process based approach to the markets allows traders to learn this overtime.
@Yanc_trades@DiegoBTrades For hyper scalping this makes sense.
It’s best to have a large sample of trades and see how long it takes to move away from entry. This lets you make decisions such as cutting the trade when it’s hovering at entry as you will see over a large sample it usually leads to a loss.
The less time you have the higher the timeframe. Simple.
Swing trader = Weekly / Daily candles
Day trader = Daily / 4H candles
You don't even need to go lower.
Where did the last candle close? Where did the next one open? Where will the wick form? That's the whole game
@finessee_Fx having a middle time frame which allows you to see if order flow is aligned and onside with expected direction also allows you to identify when entering a trade would be low probable :)
@toni__iyke Social media and prop firms have created an unrealistic understanding of what trading is. Its important for those with large followings to show what is real vs what are highlights.
UK/Europe traders, you have a career-level opportunity every single evening.
NY PM session. 18:30–21:00 UK time.
Index futures.
1–3 days a week.
Target 1–2R and close the charts.
That's it.
You don't need to quit your job. You need 2.5 hours!
You will never trade profitably under financial pressure. I've never seen it done. Not once.
Keep your job.
Build your income.
Trade small on the side until it consistently replaces your salary, even in bad months.
Desperation kills discipline every single time.
@willssfx I have seen the exact opposite. Everyone goes through a phase where this is all you do, that is when breakthrough moments occur BUT less is more in trading. those who spend the least time and strictly follow their system always do the best. Trading is not like business.
Even scalpers are trading a HTF candle. They just don't know it.
Monthly > Weekly > Daily > your timeframe.
Pick 3:
- HTF for bias
- Mid TF for confirmation
- Low TF for entry
Trade with the higher timeframe. Not against it.
HTF doesn't have to be 1W or 1D btw :)