Hi all,
I currently use the D1 tf to work out trends.
However, what I am struggling is if H4 is different from D1?
I believe we need to stick with the D1 trade as the longer TF’s hold more weight, and H4 could be breakouts/re-tracements and not necessarily reversals.
Is this correct?
Thanks as ever.
H4 is different from D1… in terms of?
your preference matters. you can use D1 and H4, others combine use/analysis of a few more timeframes (using weekly/monthly, and even H1 and lower timeframes)
Hi all, how much money do we need to open an account to trade?
The minimum varies; depends on the broker you choose.
can you recommend a demo account for me to try out i am totally new in forex trading
You can try FXCM or IBFX. If you are “totally new” the demo account can wait until youve atleast finish reading through the school here.
$0 to $1 minimum, available at certain brokers
being new, you should take it slow and try out a few different platforms. Each has its own bells and whistles; some are more user-friendly than others.
Fxpro has unlimted demo life
Is it right in saying that using a platform like Metatrader is safer as variables like chart manipulation from companies is less likely?
.ga. (-:
No. The MetaTrader platform is available from most brokers but is used to reflect that particular broker’s information which may vary slightly from other brokers. A broker with 5 different platforms available will almost always have the same information available on all of its platforms since it is that particular broker that is supplying the info to its victims…
Market manipulation is caused by large institutions (Deutschbank, Citi, Barclays, UBS, etc.) and is picked up by individual brokers who reflect (with small discrepencies) the market at large.
i agree with our senior FringFX, guvvy. I know i’m still on demo. We should be familiar with zooming in and out the chart. in h1, h4, or D1 TF. We can see often several pattern (head and shoulder, double top-bottom, elliot wave, triangle, etc) or reversal line if already familiar with it.
Example, like the line we saw never break for several month. And then, we see now the chart goin there. So, we can see and analyse how powerful that line for reversal… Remain, we can hope to the God for always beside our decision 
The timeframe you use depends (should depend) on your trading. If you’re daytrader, H1/H4 seems to be a “long-term” and almost useless. If you think about your positions in days/weeks, H1/H4 seems to be a minimum, with the main focus on H4/D1, with the support of W1.
All the best,
Adam
Hi Guvvy,
Adam makes a great point about long term vs short term trades.
Another thing to consider is that if you use longer term charts, your trade setups will probably require wider stops than if you looked at shorter term charts. Take a look at the two GBP/JPY charts below. Both show the same number of bars, but the daily chart covers a range of almost 1500 pips, while the 4 hour charts less than half that amount.
Depending on how many pips you are comfortable risking on a trade, this might affect what times frames you prefer trading on. Ideally, I think it’s good to use a combination of longer term and shorter term charts, so you get a good picture of the overall trend, but can still time your entries and exits precisely.
Good trading!
Jason
I really would keep an eye on the weekly time frame as well and especially the fib levels they produce.
hello there
any explanation for your advise, i mean wats d reason u want 2 keep an eye on that? im in the middle of process to create my own system, any valuable info would be very nice
tq,
acik
I think he meant that it would have a stronger resistant and support on those weekly chart