Why lower time frames are a waste of time. Here I wanted to do something I haven't done for a little while and that was day trade. After Looking at my recent trades I saw that my trades taken on the Daily chart with only price action signals from the Daily candles after the Daily close were bringing me more pips and so much more accuracy than any other time frame I decided to give it one last try to see if my price action skills can be used on the lower time frames, presumably the 4 hour and 1 hour. What a waste of time. After looking at my history my trades trading price action signals off of support and resistance on the 4 hour and 1 hour resulted in so much more loss, more stress and more time looking at the charts. The pin bars and engulfing candles I usually trade off the Daily and which resulted in me being able to make hundreds of pips a week resulted in many fake signals on the lower time frames. I say this because I personally think day trading is a joke. It will only result in you losing all of your money and your sense of peace. I am now and forever a believer in the daily chart. F*** you lower time frames.
