A few days ago, I wanted to learn new trading and investing strategies. So I went online and I started exploring what other traders use in order to determine their entry in a trade and which mistakes to avoid. After watching and studying a couple of videos on Youtube, I already gained a significant amount of insight. I could not wait for the market to reopen and to test my new knowledge. That’s when I saw a video titled ‘Multiple Timeframe Analysis’. I was intrigued. Those three words seemed familiar and clear, but I could not imagine what it meant exactly. So, I took my pen and paper, and started watching videos concerning multiple timeframe analysis. The study went on for a few hours until I was finally satisfied with my understanding of the topic.
November 12th. The first day I was going to try out these new strategies. I wanted to find trades which I can hold for hours, days or even weeks. Naturally, I started screening stocks in order to find uptrends, bullish patterns, etc. I came up with quite a watchlist. At the end of the day, I hadn’t taken a single trade yet. But I had narrowed down my watchlist to just 2 stocks: RIOT (Nasdaq) and AWH (Nasdaq). Because this was a strategy test, I bought both stocks with fairly small amounts of money. The market closed, and I went to bed. I was confident and relaxed. I trusted my understanding of the multiple timeframe analysis strategy.
Today, November 13th, I woke up and had online classes to attend. During these classes, I kept one eye on my laptop and one on my monitor, which showed the charts of my watchlist. As soon as the pre-market opened, I started following what happened with the prices. I was baffled. Everything that happened with the price was predicted by my analysis from the day before. I couldn’t believe it. My two stocks were slowly but steadily climbing the ladder and showing signs of resistance where I predicted they would be.
Right before market close, I sold my RIOT stocks, but I kept AWH. I usually don’t hold stocks over the weekend, but this time, the faith I had in my analysis was stronger than ever. At the end of the day, I can say I am quite satisfied with todays gains from yesterdays entries.
I really enjoyed learning a new trading strategy and even more so testing it in the market. I will certainly be using multiple timeframe analysis on a daily base and keep sharing my gains and losses.
Thank you and as always,
Great David! I’m very impressed by your discipline, eagerness to learn and results. You also made me very curious about the methodology. Can you teach me? Greetings, Christine
Thank you for the feedback, Christine! I would love to teach you what I learned. I might write a article in the future!