Daily vs Weekly Charts | The Million Dollar Mistake to Avoid
Would you like to learn how to make more money trading using the weekly and monthly chart? This week Dale and Janine discuss why trading with daily charts is costing you money and how trading using the weekly and monthly chart will make you far more profitable.
Using daily charts to trade is like having your face planted up against a brick wall because you are unable to see the bigger picture of what is actually unfolding on a stock or in the market. Unfortunately, while many are taught trading using daily charts, I can honestly say from experience that using weekly and monthly charts to trade will make you far more money and you will also experience far less stress. If is for this reason, why I don’t trade using daily charts.
Dale and Janine also share the story of a client, who had been trading with daily charts to manage his million dollar portfolio and how he had suffered significant losses as a result. They also discuss the debate surrounding daily vs weekly charts and why it’s important to have a solid understanding of the stock before you enter a trade by analyzing what’s unfolding on the monthly and weekly time frame.
By completing your analysis on the weekly and monthly chart, you will have a far better understanding of the terrain you are trading in before you place a trade, which in the end will make you far more profitable.