May 24, 2025 • 6 mins
How Trading the Candle Close Can Improve Your Results Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Watch Prop Firm Masterclass #589: How Trading the Candle Close Can Improve Your Results In this video: 00:32 – When should you look at the charts? 01:05 – When we look for a new trade at The Forex Trading Coach. 02:21 – Only look for a trade at the close of a candle. 04:09 – Multiple time frame charts change over at the same time. 04:50 – Reduce the amount of chart time. 05:34 – Get onto my 17 minute masterclass or book a call with us. 05:58 – Blueberry Markets as a Forex Broker. 06:29 – Like, share and subscribe to receive notification of more trading videos. Did you know that if you only look at your charts at the close of a candle, it's going to massively improve your trading performance and also massively reduce the amount of time that you spend looking at the charts. So let's talk about that very important topic and more right now. Hey there, Traders! It's Andrew Mitchem here, the owner of The Forex Trading Coach with video on podcast number 589. When should you look at the charts? So a lot of people struggle when it comes to knowing when they should be looking at their charts and what time of day that should be, what time frame charts to look at, what pairs, what markets, etc.. Is it the European session, the London session? You know, the Asian session, the US session. What is it? And they get very, very confused with all that happening. And they really don't know when to look at charts. So as a result of that they tend to spend far too much time looking at the charts, waiting for this pip to move up and down, or that line to cross over that line or a dot to appear because it doesn't work. When we look for a new trade at The Forex Trading Coach. So what can you do to simplify things? Well, very easy really, the way that we tried here at the Forex Trading Coach and the way that I've traded now for over 20 years is I only look for a potential new trade upon the close of a candle. So, you know when the candle closes, because the market opens each new day at 5 p.m. New York time. So if you were trading, let's say, four hour charts, you know that at 5 p.m. New York time, the new day starts. So you know that four hours later from then, which will be 9 p.m. New York time, the four hour charts will change over. And therefore, you know, if you add four more hours to that becomes 1:00 Am, 5:00 Am, etc. How easy it is to know when the four hour charts change over. Now, obviously in a day this is one day the candle and you know when it changes. Obviously within the 24 hour time period there are two 12 hour charts. Guess what? There are 5 p.m. and 5 a.m. New York time. You know, there are three eight hour charts. There are four six hour charts. There are six four hour charts. Very, very easy to do this. . Only look for a trade at the close of a candle. And so if you look at the close of a candle, a number of things happen from a simplistic point of view. You know when to go and look at your charts. What does that do for you as a trader? Well, it gives you a little bit of time. You can look five minutes prior and you can scan through the charts, and you know that when they change over, if there are any suitable trade set ups, when they change over, the candle closes, nothing else moves. You can make your decision quite easily. It takes a lot of emotion out of trading because you're not. They're scared about moving, you know, missing every moving pip up and down. You're not there watching this line cross over that line. And of course they keep moving. And so when the candle closes, nothing else around it, whatever indicator you're using or horizontal level, nothing changes from that point onwards. So it makes it very easy to see.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Did you know that if you only look at your
charts at the close of a candle, it's going to
massively improve your trading performance and also massively reduce the
amount of time that you spend looking at your charts.
So let's talk about that very important topic and more
right now, Hey the traders, it's Andrew Mitcham here, the
(00:27):
owner of the Forest Trading Coach with video podcasts number
five hundred and eighty nine. So a lot of people
struggle when it comes to knowing when they should be
looking at their charts, what time of day that should be,
what time framed charts to look at, what pairs, what markets, etc.
Is it the European session, the London session, you know,
the Asian session, the US session? What is it? And
(00:47):
they get very very confused with all that happening, and
they really don't know when to look at charts. So
as a result of that, they tend to spend far
too much time looking at the charts waiting for this
pip to move up and down, or that line to
cross over that line, or a dot to or peer.
Of course, it doesn't work. So what can you do
to simplify things? Well, very easy, really, the way that
(01:10):
we trade here at the Frest Trading Coach, and the
way that I've traded now for over twenty years is
I only look for a potential new trade upon the
close of a candle. So you know when the candle closes,
because the market opens each new day at five pm
New York time. So if you are trading let's say
(01:32):
four hour charts, you know that at five pm New
York time, the new day starts. So you know that
four hours later from then, which will be nine pm
New York time, the four hour charts will change over.
And therefore you know if you add four more hours
to that becomes one am, five am, et cetera. How
(01:54):
easy it is to know when the four our charts
change over. Now, obviously, in a day, that's just one
daily candle, and you know when it changes. Obviously within
a twenty four hour time period. There are two twelve
hour charts. Guess what there are at five pm and
five am New York time. You know there are three
eight hour charts, there are four six hour charts, there
(02:16):
are six four hour charts. Very very easy to do this,
and so if you look at the close of a candle,
a number of things happen. From a simplistic point of view,
you know when to go and look at your charts.
What does that do for you as a trader, Well,
it gives you a little bit of time. You can
look five minutes prior and you can scan through the
(02:37):
charts and you know that when they change over, if
there are any suitable trade setups. When they change over,
the candle closes, nothing else moves. You can make your
decision quite easily. It takes a lot of emotion out
of trading because you're not there scared about moving, missing
every moving pip up and down. You're not there watching
(02:58):
this line cross over that line, and of course they
keep moving. And so when the candle closes, nothing else
around it, whatever indicator you're using, or horizontal level, nothing
changes from that point onwards. So it makes it very
easy to see has this bunced off this level, has
it closed below this rand number? Has it bounced off
(03:20):
a previous high of your selling? All these type of things,
has it had a trend line break? All the different
things you might look at on indicators, even they are set,
they are not constantly moving. So not only do you
know when to go and look at your chance. You
can get a bit of a heads up for a
few minutes prior you can make your decision. It removes
a lot of the emotion out of your trading because
(03:40):
you're not they're scared that things are changing. Or I
took this trade because this line crossed that one, and
like a couple of minutes later they crossed back again,
and it's like, oh, well, that was a shame, because
when I took the trade, it was looking good. Now
it's not looking good. None of that will happen. If
you trade on the close of a completed candle, you
know when to look, you know what to look for.
(04:01):
You can look in advance. Everything's set. It's so much easier.
The other thing, of course, is that different time frame
charts can change over at the same time. To give
you an example, if you are looking at the five
pm New York close of day, the new day starts
at that same time, the twelve hour charts changeover, as
(04:25):
do the eight hour charts, as do the six hour,
as do the four hour. When it comes to twelve
hours later it gets to five am New York time,
the twelve hours, of course change over again as to
the six hours, and the four and the three and
the two. So you've got a one hour chance. Of course,
each hour, you've got multiple options of trading multiple time
(04:46):
frame charts at that same time. And so when you
think about that, you can massively narrow the amount of
time the shortcut the time that you are spending looking
at your chance, and you could trade once a day,
twice a day and do very well looking at multiple charts,
multiple time frames, multiple markets. It makes life so much easier.
(05:11):
You're not sitting there panicking and that you're going to
miss a trade because this line's crossed over that line,
forget that it does not work. Look for your clothes
of candles. Make your decision. Then if you want to
add more to that, you can do. What we do
is use limit orders, so you're taking away even more
of a motion because you've got time to place the trades.
You don't have to be there at the exact time
(05:31):
that the chart changes over. So if you're interested to
know how you can do this to trade full time
in thirty minutes or less per day, what I suggest
you should do is jump on my very short on
demand master class or book a call. I'll put a
link to both of those around this video on this
page somewhere so you can book a car to have
a chat with us, or you can watch that master
(05:53):
class to see how we do it and decide if
this is right for you. If you're out there looking
for a good broker to place your funds with and
to trade through, I can highly recommend Blueberry Markets. They
of course offer the MT four and Empty five platform,
multiple timeframe charts on Empty five, all built in a
large array of markets, so you can be really selective
(06:14):
on what trades you're taking based on the highest probability setups.
And that's the beauty of trading through someone like Blueberry Markets.
We've got lots of choice in terms of timeframes and
lots of choice in terms of markets to trade, so
I hope that helps. I don't forget to like and
subscribe or share this around, and any questions you have
you'd like me to discuss on future videos and podcasts
(06:37):
just like this one, send me an email personally to
Andrew at Theforest Trading Coach dot com and I see
this time next week for more trading tips and information
by finat
Did you know that if you only look at your
charts at the close of a candle, it's going to
massively improve your trading performance and also massively reduce the
amount of time that you spend looking at your charts.
So let's talk about that very important topic and more
right now, Hey the traders, it's Andrew Mitcham here, the
(00:27):
owner of the Forest Trading Coach with video podcasts number
five hundred and eighty nine. So a lot of people
struggle when it comes to knowing when they should be
looking at their charts, what time of day that should be,
what time framed charts to look at, what pairs, what markets, etc.
Is it the European session, the London session, you know,
the Asian session, the US session? What is it? And
(00:47):
they get very very confused with all that happening, and
they really don't know when to look at charts. So
as a result of that, they tend to spend far
too much time looking at the charts waiting for this
pip to move up and down, or that line to
cross over that line, or a dot to or peer.
Of course, it doesn't work. So what can you do
to simplify things? Well, very easy, really, the way that
(01:10):
we trade here at the Frest Trading Coach, and the
way that I've traded now for over twenty years is
I only look for a potential new trade upon the
close of a candle. So you know when the candle closes,
because the market opens each new day at five pm
New York time. So if you are trading let's say
(01:32):
four hour charts, you know that at five pm New
York time, the new day starts. So you know that
four hours later from then, which will be nine pm
New York time, the four hour charts will change over.
And therefore you know if you add four more hours
to that becomes one am, five am, et cetera. How
(01:54):
easy it is to know when the four our charts
change over. Now, obviously, in a day, that's just one
daily candle, and you know when it changes. Obviously within
a twenty four hour time period. There are two twelve
hour charts. Guess what there are at five pm and
five am New York time. You know there are three
eight hour charts, there are four six hour charts, there
(02:16):
are six four hour charts. Very very easy to do this,
and so if you look at the close of a candle,
a number of things happen. From a simplistic point of view,
you know when to go and look at your charts.
What does that do for you as a trader, Well,
it gives you a little bit of time. You can
look five minutes prior and you can scan through the
(02:37):
charts and you know that when they change over, if
there are any suitable trade setups. When they change over,
the candle closes, nothing else moves. You can make your
decision quite easily. It takes a lot of emotion out
of trading because you're not there scared about moving, missing
every moving pip up and down. You're not there watching
(02:58):
this line cross over that line, and of course they
keep moving. And so when the candle closes, nothing else
around it, whatever indicator you're using, or horizontal level, nothing
changes from that point onwards. So it makes it very
easy to see has this bunced off this level, has
it closed below this rand number? Has it bounced off
(03:20):
a previous high of your selling? All these type of things,
has it had a trend line break? All the different
things you might look at on indicators, even they are set,
they are not constantly moving. So not only do you
know when to go and look at your chance. You
can get a bit of a heads up for a
few minutes prior you can make your decision. It removes
a lot of the emotion out of your trading because
(03:40):
you're not they're scared that things are changing. Or I
took this trade because this line crossed that one, and
like a couple of minutes later they crossed back again,
and it's like, oh, well, that was a shame, because
when I took the trade, it was looking good. Now
it's not looking good. None of that will happen. If
you trade on the close of a completed candle, you
know when to look, you know what to look for.
(04:01):
You can look in advance. Everything's set. It's so much easier.
The other thing, of course, is that different time frame
charts can change over at the same time. To give
you an example, if you are looking at the five
pm New York close of day, the new day starts
at that same time, the twelve hour charts changeover, as
(04:25):
do the eight hour charts, as do the six hour,
as do the four hour. When it comes to twelve
hours later it gets to five am New York time,
the twelve hours, of course change over again as to
the six hours, and the four and the three and
the two. So you've got a one hour chance. Of course,
each hour, you've got multiple options of trading multiple time
(04:46):
frame charts at that same time. And so when you
think about that, you can massively narrow the amount of
time the shortcut the time that you are spending looking
at your chance, and you could trade once a day,
twice a day and do very well looking at multiple charts,
multiple time frames, multiple markets. It makes life so much easier.
(05:11):
You're not sitting there panicking and that you're going to
miss a trade because this line's crossed over that line,
forget that it does not work. Look for your clothes
of candles. Make your decision. Then if you want to
add more to that, you can do. What we do
is use limit orders, so you're taking away even more
of a motion because you've got time to place the trades.
You don't have to be there at the exact time
(05:31):
that the chart changes over. So if you're interested to
know how you can do this to trade full time
in thirty minutes or less per day, what I suggest
you should do is jump on my very short on
demand master class or book a call. I'll put a
link to both of those around this video on this
page somewhere so you can book a car to have
a chat with us, or you can watch that master
(05:53):
class to see how we do it and decide if
this is right for you. If you're out there looking
for a good broker to place your funds with and
to trade through, I can highly recommend Blueberry Markets. They
of course offer the MT four and Empty five platform,
multiple timeframe charts on Empty five, all built in a
large array of markets, so you can be really selective
(06:14):
on what trades you're taking based on the highest probability setups.
And that's the beauty of trading through someone like Blueberry Markets.
We've got lots of choice in terms of timeframes and
lots of choice in terms of markets to trade, so
I hope that helps. I don't forget to like and
subscribe or share this around, and any questions you have
you'd like me to discuss on future videos and podcasts
(06:37):
just like this one, send me an email personally to
Andrew at Theforest Trading Coach dot com and I see
this time next week for more trading tips and information
by finat
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