Have you lost a trade this year?
Well I haven’t, at least not on the 8hr time frame.
I have taken eight trades on the 8hr time frame successfully so far.
I am not saying I have a 100% win rate on all time frames. However, I am eight for eight on the 8hr time frame.
To the right is a pie chart showing my 8hr chart success rate…. haha
I have only been trading 8hr charts for a few months and I have to say I agree with the Chinese; the number 8 is the key to good fortune!
Why are 8hr charts so profitable?
Smaller time frames, 1hr and below, are noisy which makes it harder to trade or to have faith in price action signals.
Larger time frames, daily and above, are great but tend to be driven by news. This makes them susceptible to swings, especially in the current tumultuous markets.
The 8hr time frame falls into the sweet spot between noisy time frames and news driven time frames.
Live Trade Video – June 26 2012
Here is a GBP/USD trade I took on the 8hr chart yesterday. Check it out.
This is a YouTube HD video so press the gear icon, set it to 720p and watch at full screen.
How YOU can lose less and make more by trading 8hr charts
If you want to learn how to use Price Action Analysis on 8hr charts, then please put your email in the form below to be notified of available spots in the Advanced Price Action course.