Hi Fx gurus, I need more explanation about time frame
There is no alternate way to make a profit from the forex market without learning. So, learn as much as you can.
There are different time frame in the MT4 charts. These are 1M, 5M, 15M, 30M, H1, H4, D1, W1 and Monthly. For newbie I don’t advice to use any chart below H1. The more smaller time frame you will use the more unnecessary trades you will open. And a bad habit develops.
It seems like you’re still in the early stages of your forex journey and that is why you don’t know this. The best suggestion that I can give you is to learn as much as you can on the trading time frame for you to know best. Remember that you need to learn and not just ask everything in the forum.
@Haarun I’ll be blunt, trading isn’t easy and takes a huge amount of work - timeframes is one of the simplest concepts and the answers can easily be found on the forums or education sections of this site. Do some research and accept the work you need to put in.
I think traders should use the daily time frame. After analyzing the daily time frame, H4 and H1 time frame should be used to filter the trade.
A proper strategy cannot be created without combining time frames. Many traders face losses by trading in the wrong time frame. I always use the daily time frame. And when entering a trade, I use a time frame of H4 or H1.
Looks like you are at the early stage of your learning. You can refer to some books that will clear your doubts.
There are already default time frame in the MT4 platform and these are MN, W1,D1,H4,H1,30M,15M,5M,1M. on MT5 platform you can make your customized time frame also.