Choosing a time frame

Beginner Questions
1

Hi, begginer here…

I’m trying to get a solid first stratagy down on paper and I’m struggling abit…

I can’t settle on whether to work with trend riding or trend bounce. I feel I have a good grasp on the workings of both I just don’t know what would be best for a begginer. I also need some advice on what time frames to use for both. I’m thinking 4hr chart to draw the main support or resistance. Then use a smaller time frame like 30min or 15 min to acctualy trade from.

My questions are…

Am I better pursuing a trend riding or a trend bounce strategy considering I’m a begginer?

Would these time frames I suggested (4hr for the main trend, 30min to 15min to trade from) work for both a trend riding and trend bounce stratagy?

I want to day trade, not holding positions over night. Only doing 2 to 3 trades a day until I can improve. Only trading major pairs avoiding Yen.

Many thanks

1 Like
2

Trend following - Trend patterns easily recognisable. High win rate. Low r:r on winning trades. Long holding period. Opportunities to pyramid. Entry timing not critical.

Break-outs - Patterns often misleading. Low winr rate. High r:r on winning trades. Short holding period. No ambition or opportunities to pyramid. Entry timing critical.

3 Likes
3

Hmm. :thinking: Personally, I would think that for now, trend following might be more suitable for now. :open_mouth: It’s generally easier to identify and follow a strong trend than to accurately predict breakouts and reversals. Also, waiting for these breakouts may take aa lot more time. :thinking:

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4

Unclear. They could, but for me 30-minutes would be too slow to work from if (wisely, IMO) not holding overnight.

Have you thought about maybe using a 2-hour chart to draw your S/R and trading from a 10-minute one? (I would.)

Trend following, I think. I agree 100% with both the points made just above by @ria_rose .

1 Like
5

I trend follow using weekly chart,and 4h support being the same price action movement.

However you could try the Day chart and the 4hr support, with maybe the 1hr as well. Called ‘three ducks in a row’ strategy.

6

For beginners, trend-riding is simpler. Use a 4-hour chart for the main trend and 15–30 minute charts for entries. This works well for both strategies and suits day trading. Good luck!

7

i just wanted to mention that you are going through a very right way. you have to have a solid written strategy. you can find some in the posts here

8

For a beginner, trend riding might be simpler. Stick to one strategy initially. Your proposed timeframes are reasonable: 4H for trend analysis, 30M or 15M for entries. Focus on mastering one pair and strategy before expanding.