A few thoughts about time-scale
Sat 9th June 2018. 250 million years is a long time! That is how long damsel flies have been in existence. The cover picture of this weeks video is of a damsel fly. I dont suppose the human race will be around in 250 million years time. I listened to a blog post by another trader, Scott Welsh, yesterday. He was talking about how short-term timeframes are very difficult to trade, and how longer time-frames are easier, because the signals are more reliable. I tend to agree with this. Some folk would argue that my weekly analysis the markets is a very long time-frame. Others would argue that there is still a lot of 'noise' from the information of a weekly chart, and that a monthly chart gives more reliable signals. My argument for using weekly charts is that these days, with the speed of communication, the already short time-frame that a fall in the market can occur in, males it worth looking at the charts weekly rather than monthly. I have no evidence for this statement, and suspect that there are times when weekly charts work better than monthly charts, and vice versa. In the long-run, it probably dos not matter what time-frame I use. In the overall scheme of things, of course, none of it really matters at all. Trading and investing should just be a sideline to support us to do some good during the short time that we are on this earth!