As I’m working full time trying to analyse charts during opening hours is tricky. So what is the best time frame to study for day trading?
I’ve been trying H4 and H1, but had some advice a while ago that you should study the chart that is one below the chart you are actually going to trade from. [I]Not sure that made any sense.[/I]
Anyway thanks you guys.
.ga. (-:
Day trading is opening and closing all positions within the same day to reduce overnight risk exposure (mainly other securities since forex is essentially a 24/5 market). The time frame you wish to trade is dependent upon how active you want to manage your trades. H1 trades can last anywhere from one hour to, if you are lucky, a few days but usually just last a few hours. H4 trades will generally take you past the session you are trading and are short term swing trades (carrying past the day trade style of trading).
Some traders look at larger time frames than the one they are trading to determine overall market direction. I do not generally find that useful in my trading and just stick to whatever time frame I am trading. Looking at a time frame lower than the one you are trading can be used to give more fine-tuned entries. Again, I just stick to the time frame I am on usually.
If you are limited by your work hours you may want to stick the larger time frames of 4H and up and swing trade. just keep in mind that the market movements are larger and the potential for larger losses (as well as gains) exist.
i think we can use wether h1 or h4 for day trading time frame.
Seems u more familiar with oschilator or movin average (i saw on ur quizes). Usin that indicator need more time on our chart. Except usin ea (expert advisor) or signal provider -__-
I’m engineer too and still doin demo till now. But after several method that i studied, ma or oschilator not suitable for us who already had another job. So, try different approach. Like SR level or fibonaci i think. And use pending order as our main entry method. Then, we can leave our trade runnin for several days (i limited my trade until friday) 
Interesting. I used demo for around 6 months. But found that people using demos tend to be less worried about losses so place risky orders. I now have a micro account. Putting £200.00 on to start. Then buy a 0.01 lots. So my profit/loss is low but you get a good feel for the money. I also found that not checking ya lots often very bad for budget! Lol. Stop losses and take profits I’m still struggling with as either set them to low and they stop then turn or to high and lose a bit. It’s friggin’ tough innit! Keep in touch fella. .ga.
Wicked, thanks. Hmm, I’ll have a go at sticking to h4 for all trades and
D see how it goes, I know the feeling with overnight trades. I only do micro lots but it can be devastating in one sleep. Lol.
.ga.