Don_xyZ wrote:kiwiarian wrote:Don_xyZ wrote:Bias. This is important. If you get it right, you will make money.
Traders take their bias from many different market move. This is a bearish bias:
The only difference between them is the size. The bigger bias is meant to cover a lot of pips the smallest is meant for quick pips. Then again, the smallest can also be used to make a lot of pips. This is where you dance and ride the wave.
With bias, is it based on the same time frame for you? A lot of examples I have seen from people is using a trend, and the pattern confirms the entry in that direction.
Maybe you missed my previous post.edit: your bias must be big enough otherwise it's just a price lag.
If your entry is M1 then your bias must be bigger than M1 so it could be H1, H4, D1. I don't recommend using anything smaller or bigger than those tfs. edit: M3 or M5 bias is just a price lag because it's only printing the candle 3x 5x slower (you get the point) but starting from H1, now we have power in the number because a lot of traders are using H1 no matter what their trading strategy is. Any trend or pattern that you see will continue or reverse from the vantage point of the bias tf. You can also combine pattern and this bias tactic coz this is just one of the ways to get a quick bias. How you enter the trade or what trigger you use is up to you. You can play this in unlimited ways, you can even anchor your trade if you get the timing right. I gave a lot of ideas in this thread and you can use any of them
OK thanks (I miss a lot of things ) , bias is one of the areas I need to work on, I was focusing on mainly candles below the 1 hour so will put the hourly candle at the top of the mast next to the wind vane to give me an overall direction. My 15 min chart will be thrown overboard, without a life jacket.