Divergence Trading in the Forex Market

In today's video podcast, I want to discuss the reasons I am drawn to trading longer time frame charts and the remarkable benefits and results that stem from this approach. Let's dive right into it. Greetings, fellow traders! This is Andrew Mitchem, the Forex Trading Coach, here with video podcast number 517. I find myself in one of my cherished spots, Awaroa Beach, as we approach the end of winter in New Zealand. My wife and I arrived here today by helicopter after visiting some friends. We're now preparing to enjoy a beachfront lunch. As you can see, there are just two other people on this beach besides us. Why am I sharing this with you? Trading with a focus on daily charts has allowed me to savor moments like these. Earlier this morning, I approached my trading method with patience, executing three daily trades. I also made a trade yesterday and ventured into the 8-hour charts. Last night, I took advantage of the 6-hour charts, and that wrapped up my trading for the day. The rationale behind trading on longer time frames is that it necessitates minimal daily monitoring. Regrettably, many traders fall into the trap of fixating on 1-minute, 5-minute, or even 15-minute charts, cluttering their screens with intricate patterns. Brokers inundate them with technical analysis, fostering the belief that this is the path to success. However, seasoned traders distinguish themselves by focusing on candle patterns, price action, and broader market analysis. They delve into concepts like strength and weakness, reaping the advantages of longer time frame charts. This approach suits individuals with families, careers, travel plans, or other commitments, allowing them to trade full-time while enjoying their lives. Personally, I analyze the charts at 5 p.m. New York time, relying on daily charts and kick-starting my week with a look at the weekly charts. At the beginning of each month, I delve into the monthly charts. This, complemented by daily chart analysis, keeps me informed. Additionally, I dedicate time to review the 12-hour, 8-hour, and 6-hour charts simultaneously, a task that consumes a mere 15-20 minutes each day. Furthermore, I examine the close of the 4-hour, 6-hour, and 12-hour charts at 5 a.m. New York time, but I must stress that you need not be tethered to your charts at that hour. I find it convenient, as it coincides with multiple time frame changes, providing ample time to analyze market movements without being driven by emotions. Look at the breathtaking view behind me. Although the tide is currently out, I plan to take a swim once we conclude here. It serves as a testament to what is attainable when trading longer time frame charts. Moreover, it's essential to debunk the misconception that trading longer time frames necessitates substantial accounts. This is simply not true. If you're keen on exploring this approach further, I recommend scheduling a conversation with me or one of my team members. We're more than happy to engage in a 30-40 minute discussion with individuals genuinely interested in trading. However, please refrain if you're seeking free advice without a commitment to learning. We cherish our community of dedicated traders worldwide and aim to keep it vibrant and thriving. Additionally, if you're in search of a reliable broker, I enthusiastically recommend considering Blueberry Markets, an Australian-based brokerage with an impressive range of offerings, including MT4 and MT5 platforms. That's a wrap for now. I'm off to enjoy lunch, take a refreshing swim, and then return home. I look forward to reconnecting with you next week. Farewell for now!