Time frame question

Beginner Questions
1

I’ve read in the School of Pipsology that the best time frame to use depends on your personality. I’m still undecided what time frame I should focus on. Can anyone share what you’re using and why? Thanks! :slight_smile:

2

Hi there and welcome :slight_smile:
I prefer trading Intraday so I use M15, H1 and H4. Thus I can eventually recognize short-term movements but still not lose sight on the bigger picture and trade constantly against the trend. But as you mentioned it depends on your pesonality. I don’t like taking risks that much and prefer not to hold trades overnight :wink:
Good luck!

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3

How many hours per day and what time of day do you trade?

4

About 4-5 hours a day. 08:00-13:00 GMT :slight_smile:

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5

True.

I prefer longer time frames because it fits my style as a swing trader.

  1. I dont have to stay glued to my charts at all times. I spend more time on charts pre trade then I do with an open position.

  2. I find in general that the PA and levels on higher frames are more significant with less “noise” while the PA and levels on shorter time frames are less significant with more “noise”.

  3. I’d be lost if I tried trading off the 1hr or smaller frames

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6

Well, I am a day trader that’s way I rely on H1 and H4 mainly! Because, this 2 time frames shows enough number of intraday support and resistant levels & market context! So, high time frames like D1, W1 is not useful for me in this case! Thus, lower time frames help me!

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7

Thanks @baemax023

That time frame both in terms of hours per day and the particular time of day you trade gives you plenty of options. For example, if you want to scalp, you’ll be trading at a time when key economic figures from Europe are released http://on.forex.com/calendar

That means you could focus on majors like EUR, GBP and CHF. With time and experience you could eventually branch out to other currencies like SEK and ZAR which are in similar time zones.

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8

Hello LauChoKun.

You say higher time frames are not useful to you because you trade intraday and use 1H and 4H time frames.

I have a question.

Lets say you identify 2 s/r level on a 1H/ 4H chart. 1 of these levels also happens to be a major level on the daily/weekly, and the other level is only significant on the 1H/4H and lower frames.

Would the s/r level that also happens to be a major level on the daily/weekly not be more significant than the level that is only significant on the 1H/4H and lower?

And if this is the case, would that not make this information useful to you?

I understand that intraday price isnt always near major levels on higher frames and I ask w/o the benefit of knowing your strategy and without any day trading experience myself.

I am however interseted in hearing your thoughts on the subject.

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9

I have a question about what time frame I should set my candle sticks to if I am trading on a 10, 15, 30 minute or 1 hour expiry time. I can’t seem to find an answer on this.

For instance if I am placing a trade on a 30 minute time frame do I need to look at a 15 minute candle stick chart or a 30 minute candle chart?

If I am trading on a 10 minute expiry should I look at a 5 minute candle chart?

Hopefully you understand my question!

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10

By default, the only way to trade off a 30 min is by looking at the 30 min. Same goes for any other time frame.

You can use other time frames in your analysis, but it just depends on you and your trading style.

For example… I trade the daily and 4hr so that means I have to look at the daily/4hr for execution. But I also use higher frames as part of my analysis when executing on the 4hr/daily.

Hope this helped

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11

I will suggest trading big time frame, I always use H4 to trade so I will suggest H4 to you also. You should practice H4 for trading than start live work.

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12

Please tell me details about your trading style, are you scalper or swing trader or anything else?

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13

I have never traded with scalping or swing style. I like to work according to my trading analysis that is all for me. Being a scalper is a risky work. I will say try to find out your strategy and then trade with big time frames, you will learn how profitable it can be.

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