Best time frame to trade for a beginner with a small account

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12

distracts you from your trading

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13

Unless you are trading that timeframe.

Then it is just like a higher timeframe. That candle or bar formed because someone bought and someone sold.

It is all relevant.

Cheers

Blackduck

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14

Exactly how I do it, much less stress for me than scalping the lower time frames!

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15

Do you mind me asking your account size??

With correct Risk Management and Risk:Reward ratio you should be able to trade any time frame that suits you and your style.

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16

I am currently trading with just 100$ as I am still learning one year down the line.

17

I dont think you should be trading any timeframes yet.

Start your education here.

18

If you’re trading with a small capital, then you need to trade the smallest lot size in my opinion (0.01 lots), which is about 10 cents per pip

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I’m just starting out but what I’ve gathered is you can trade any time frame, you just gotta set tha right lot size. A standard 1.00 lot size is going to give you wayyyy less room to move how you need to than say a .01 or .10. I recently played with different lot sizes in tha demo to see how they move and I recommend one of those two with $100 based on whatever your trading style is. Consider risk management…

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Hi Kelvin - I might suggest looking at using a practice or demo account and getting these important fundamentals down before funding your account with more money. With that being said this is something where we’re always learning, I don’t think this ever stops. Try to visualize this portion of the learning curve like this: before we run we walk and before that crawl: crawl-walk-run so Really try to get this down! Go back through the baby pips education and enjoy😃

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22

this means that you didn’t respect demo account
sme times we trade live accounts basing to the strategies we have been using as a beginner
if you have not been successful on demo do not go live account,

23

If u want to see real results on a small account in a considerably short time frames , to choose a broker which offers option trading besides the basic mt4/fx

So that u can have all ur same analysis and Strategies but after fixed time expiry u will have almost double ur investment

But like everything, it has downsides too
Here u won’t find a stoploss on options trading.

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24

So true @thaqueen8spade , I strong suggest he use nothing more then .01 or .02 for a $100 account that least that will give him a lot of trading chances before blown away another account again,

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You cannot place stops based on how much you are willing to risk, but you must learn how to identify support and resistance levels so that you can place your stops above resistance in short positions, and below support in long positions. If you are trading with the longer term trend that should help considerably. Also as one other person replied use the smallest lot size possible since you have a very small account. The larger time frames are easier to trade since they do not have all the noise of the shorter time frames.

Regards,

Jim

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@Kelvinndungu understand @bookfixer advice and you are good to go. I highly recommend trading with the trend and waiting for good power-move candlestick stick before placing order.

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I think you must demo trade and get used to strategy that you feel comfortable with and profitable before you can deposit more money into your account.

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Whether $100 or $100,000, you simply must adjust your lot size. But yes, you are limited with this little capital.

In one year you should by now have identified what is wrong! Take note and address the issue directly.

Be honest with yourself and know yourself. Are you doing your best?

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29

Try learning about fundamental analysis. Fundamental analysis is what provides directions to your trading. You can follow a free economic calendar like the one here on BabyPips or ForexFactory. From the calendar choose data release events and trade at those times only. Compare the actual released number to the expected number. If data is as expected no trading, better than expected buy that currency, worse sell currency. Use technical analysis to draw long and short term trend lines and be precise making sure your trend lines are touching highs only for down trend and lows only for up trend. This will give you triangle shape range where the price is currently range trading. Choose the best looking pair to buy or sell before the time of the data release. Then you can trade with tight stop loss and get explosive movements in your favour. Wishing you all the best.
For more information on my system check out Traders4Traders.

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30

You definitely need more money in your account, unless you’re happy risking maybe up to $10 each trade or even more.

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Whats your Strategy when hitting the markets?

I have 5 Strategies i use to make every trade & i win 8 out of 10 trades a Day so find you someone that will teach you there Stragies & you should be good from there

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33

i suggest the use of lower time frames for small account cos a little noise in higher time frame equals huge Pips and is very dangerous if its against you.
On a final note, think you should still train more before going life.

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