Skyold wrote: Fri Jan 24, 2025 3:46 am Today was another prime example at the DAX.
I let the trade run since this morning and the exit was at ADR 61.8.
Marked the points. I think many words are no longer necessary 'SECOND DOT'.
Why I held the trade for so long: The blue dot formed almost at OPEN and the green dot didn't break through the OPEN.


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Curioso wrote: Fri Jan 24, 2025 7:58 am Hello mazibee,

I make a various points, and this is my mind think at this moment, and i hope you understand. Depend in various factors:
1. It all depends on your day-to-day life, whether you have hectic days or quieter ones;
2. If at this moment you are not comfortable with all rules and M1 is stress, try with a higher timeframe (ex: M15 or M5);
3. Why did I choose M1?
4. Resume the confirmation with higher timeframes;

Explanation
1. If you have quieter days at lower timeframes, it's a good alternative because you can follow the entire evolution of your trend. It has some advantages because it allows you to gain confidence and develop unique skills when making entry decisions and managing your orders. Now, if you have higher timeframes, it allows you to reconcile with your day-to-day routine and focus on the key levels and then make decisions accordingly.

2. The good part, and you can see in previous posts how I got to M1, is that it's very important to completely master your cognitive abilities, a good place to start is M15 and then when you're capable enough you'll go down to M5 and the same thing, but the time it took you to reach perfection in M15 doubles the study time for M5 and only after you're comfortable with both, yes then move on to M1. Interesting challenge, what do you think?

3. I choose it, and I understand sometimes is hard to understand the logic, h this timeframe, but for me it has the particularity of being able to focus on everything in detail and understand what's going on very quickly when making decisions, i.e. not projecting the price but following it until it reaches the different levels and the further back the better. So I decided to just focus on what's in front of us and look in detail at all the elements. And many times my positions start in Asia Session, or at end of day in end of session of NY, like now.

4. Talking about my day-to-day life. I've tried this approach of comparing with higher timeframes, but unfortunately it wasn't at the level I was looking for, so the only way is feel the trend in that precise moment, and M1 is wonderful.