Which time frame and indicators are best?

Hi All,

Can someone please explain from their experience which timeframes (15min, 30min, 1hr or 4hr) are better and which indicators and combination of indicators are best to use, as it seems pretty confusing to me ?

thanks in advance

There is no best anything in this game. It all depends on you, the trader. Although for newbies it is commonly said that higher time frames are better, like daily/4h. Also no set of indicators will bring you a holy grail. You have to develop your own system and own style of trading. I have personally traded almost every time frame, and used indicators but all for very specific purposes based. Picking the right tools for the job. Have you gone through the entire school of pipschology? I would recommend learning price action based trading systems first before adding indicators. There are some good threads here to get you started in finding a system. But really right now its about experimenting with different stuff and discovering who you are as a trader. You may be able to read about a system but you will never trade it exactly like the creator or it may not fit your personality and end up being detrimental. So open up a demo, and start with some basic price action based systems for afew months. Learn what you can and keep what you like. Keep experimenting for a while but keep a journal of all your trades. see what works for you and go from there.

Indicators and timeframes depend on the individual in question…so that’s something you need to work out on your own. If you plan to concentrate on shorter trades [just a few pips], would suggest shorter timeframes with the opp requiring longer ones…

the holy grail likely won’t be the indicator itself, but how you interpret it and what you deduce the others in the market will do in response to seeing the same indicator on their screens. hence, probably a good idea to start with the most common & popular ones, like RSI / MACD / Stoch / Bollinger / start trying to draw trendlines. as for timeframes, nothing shorter than 5min, and most likely something in the 15min to 4h range. this one is a catch-22 since shorter timeframes (5m, 15m for example) give you more opportunities to see how things ‘flow’ especially near specific times like market opens and news releases, whereas longer timeframes (1h, 4h, day) require a lot more patience on your part but inherently are made from more significant and ‘genuine’ large-scale moves in price (but you may see spikes that you can’t figure out as they happen on closely spaced news releases and can go counter to the big trend).

I prefer to 15min and 30min chart to analysis market trend. Even it completely depends upon trader’s trading style.

As mentioned already, there is no best approach. Some indicators work better on certain time frames then others. In the end it comes down to what you prefer. You need to start to develop a strategy, pick two max three indicators and then see which time frame works best.

Daily for your case. As for indicators, they are really not needed. However, people are different. So you will have to find that out for yourself after you studied them and play with them for a while.

Depends upon your trading personality.Take a look at here:
School of Pipsology Which Type of Trader Are You?

5 min’s trading strategy

5 min’s strategy:
The force 5 minutes forex system produced good profits if traded correctly. By good profits it could make pips everyday even if its only a few. Tested on the Eur/Usd pair, on 5 minutes time frame. recommended trade in asian or europe session.

Indicators

MACD: 12,26,1 ( 1 means nothing )
Stochastic: 5,3,3
EMA: 5 to the close
EMA: 5 to the open

No trades during news times, Risk is set to 2%, take profit is random based on market conditions but ill usually cash out based on reversal patterns or a cross of the two ema's. Trade signals are only confirmed on closed candles/bars.

Buy Signal

a) When the stochastic crosses up from the 20 line and is not ovebought
b) The MACD closses higher than the previous time interval
c) The Signal candle/bar closes higher bullish
d) The 5 ema to the close has crossed the 5 ema to the open

Stop Loss is the low of the previous candle or 20 pips but 20 pip min.
Close when the 5 ema to the close has crossed the 5 ema to the open

Sell Signal

a) When the stochastic crosses down from the 80 line and is not oversold
b) The MACD closses lower than the previous time interval
c) The Signal candle/bar closes lower bearish
d) The 5 ema to the close has crossed the 5 ema to the open

Stop Loss is the high of the previous candle or 20 pips but 20 pip min.
Close is based on price action.The force 5 minutes forex system produced good profits if traded correctly. By good profits it could make pips everyday even if its only a few. Tested on the Eur/Usd pair, on 5 minutes time frame. recommended trade in asian or europe session. 

depends on the type of trader you are, for example if you are looking for 20pips a day 100pips a week and 400pips a month then get yourself on the 15minute chart and 1hour i hope it helps. Enjoy

I use every chart. They each give a different perspective of the pip stream just like looking at a picture under a microscope to see detail or looking at the whole picture to see the broad perspective.