The Authority’ on Price Action Trading. In 2016, Nial won the Million Dollar Price action forex trading mastery book Competition.
Now, trading is nowhere near as stressful as war, but it still requires conscious control of mind and body. One of the things that we traders can learn from a sniper in the military is that in certain situations less is indeed more. Forex indicators, more trades, more analyzing, more money on useless trading robots, etc. What is the result of such misinformed beliefs? Weekly charts are also accurate, but they don’t give us enough targets each month and they are less practical to trade than the daily chart. These targets are price action setups, and you should think of them as higher-value on the higher time frames, because in reality the higher the time frame the higher-probability the setup becomes. This is the primary reason that trading higher time frames drastically increases trading success.
Machine-gun trading the lower time frames is not going to do anything but cause you to lose all your ammo or money a lot faster than you think. There is really no sense in ever trading any time frame below the 1hr chart since the value or probability of the targets or setups decreases dramatically as you move lower in time frame. You want to stick to the high-value or high-probability setups of the daily chart as much as possible, and especially while you are still learning to trade. If there is one thing that a sniper in the military definitely IS, it’s patient. A sniper will train for years to sharpen and perfect his or her shooting skills, and a sniper knows exactly what their target looks like and pulls the trigger without hesitation. Forex trading strategy you choose to employ in the markets so that you know EXACTLY what you are looking for every time you open your charts. Mastering a trading strategy begins with education.