What are the best time frames ?
There’s a great quote by Richard Wyckoff –
“Today’s market behavior is significant only when it’s compared to what the market did yesterday last week last month even last year there are no pre-determined never fail levels weather market always changes everything the market does today must be compared to what it did before.”
That basically defines tactical trading in a nutshell. Remember past price action to hopefully predict future price movement.
Our goal at Carjbe is simple… educate you guys on proper technical patterns. We need a proper mental approach to the business. There’s a lot of different ways to succeed.
we’re gonna examine a lot of those different ways throughout this blog.
you’re always learning to look to get better
You’re going to find your first year or two in this business in a a very steep learning curve and then the learning curve settles down and that’s like anything you do.
You pick up a brand new sport the first year you learn a ton and then you slowly get better
The first year you quickly get better. The second year you slowly get better.
One of my main goals is to teach you guys or girls just how important money and trade management is.
Psychology and money management… without them you won’t be here next year
Again…. You will not be here next year.
There’s too much craziness in this industry. When you go to other trading firms and you google trading, there’s way too much confusing and craziness on the charts alone. They have so many indicator that you simply cant read the chart. Charts are great…. Charts are wonderful
The chart patterns are much less important than psychology, money management, trade management, and market experience.
So I want you to pay attention guys to what I’m going through as I go through this why?
I have been through… not gonna say every cause everybody’s always learning. I’ve been through most of the emotions that you’re going to go through.
Trading has real emotions
It can make you have some worst days were your frustrated but that’s real trading
So understand psychology, money management, trade management is very very important…more important than the charts. How about that? let it settle in your brain. Remember ( Psychology, money management, trade management) is what you need to keep your account alive year after year.
Swing, Intraday and Day Trading
We’re gonna talk about time frames and styles
the market stages…. very important because it’s not just market stages but they’re also stocks stages I want to talk about the 3 trends up trend down trend and sideways trend.
Generally people that trade in the middle of the trading day from 9 AM to 4 PM are usually call day traders. That’s the general intro day traders. Some day traders are also called Scalpers Micro Scalpers
intraday trader and scalper…. this is an income producing style. You’re not going to get rich scalping one and five minute charts. You’re not going to make $5 million a year or $3 million a year scalping one minute charts. It can’t be done well…. it can… but, you get the point… it can be done. This is very hard because it’s just simply not enough liquidity and the moves are not big enough to do that but, that doesn’t mean you can’t make a healthy six-figure of your income, by being a scalper or a day trader you can. Longer-term traders, Swing traders and core traders we consider this wealth building.
Realistically speaking you should be doing BOTH! in the beginning I recommend you choose one style. Choose one style in the beginning and master it but I look at core trading as in… what more in what way a fundamental person would consider long-term investing…. you’re not touching these trades very often, your more like on monthly charts.
There’s one more last category that you’ll read about and that is called intraday swing trade. This is a combination of both.
Long term is a core trader
– Short term is a intraday trader if you want to separate them.
What kind of a traders are you?
So if you’re trading one minute, two minute, five minute, 15 minute chart your gonna be an intraday trader
If you’re trading 60 minute, daily chart where you’re holding a stock for 3 to 5 days or 2 to 4 days you’re a swing trader.
If you’re holding a stock for a month at a time for instance three months at a time then your a core trader.
If you are typically using weekly charts and monthly charts than your core trader.
If you’re on 60 minute charts and daily charts those are entry time frames.
If you’re entering on 60, weekly chart then you would consider yourself a core trader.
if you’re entering on a 60 minute chart you’re a swing trader.
Swing Pick Ideas
– 3-8 stock trades every Sunday Per Week for a month for a total of 4
Emails or SMS…….whichever you prefer.
–Entry Price for the stock (which is where its the best price to buy a stock… BY THAT we look into a key point where a stock will change direction by doing what is called an ‘MTFA‘)
–Stop Loss for the stock… (Which is when to exit a stock IF it drops below a certain price. This will help you PROTECT YOUR investment portfolio)
–The Target Area for the stock (which will be when to exit the trade when the Target Price has been reached.)
– Cancel Anytime NO Long Term Contract