What sort of market directions are best for 'day trading'?

[anon88459104]

LOL - just realised how bitchy that sounded - not intended!

[anon98339083]

No problem. I oversimplified, talking to a beginner. You’re right.

[alphahavoc]

What I mean is, for instance, would it be advisable to day trade in a sideways channel or consolidation?

Or does it have to be in an uptrend (or down trend)?

If it’s in a trend, does it have to be right at the beginning of the trend that you get in to make it worthwhile?

Also one more important question I have is, which time frame is most suitable for day trading? I know it would be something less than the daily candles, but which?

Well, if the sideways trend last for a LONG time, and you manage to execute a sideways trend strategy, you may be able to make quite a substantial amount of profit.

So long the market trend last long. Just keep repeating the same strategy until it fails you once or twice. Then you may have to paused for a while to reassess the market condition and tackle it differently.

[_bob]

A volatile liquid market … geez

Direction is meaningless.

[mihk]

One example: USD/CHF
It is trading in a range, maxim: 288 pips/month, 118pips/day.
Buy low, sell high. Entry in the morning, exit in the evening.
Very easy

[NaguibSawiris]

How? I draw intraday support and resistant on H4, and use H1 for my entry point! So, what’s the problem on day trading?

[FOREXunlimited]

Folks- this is the right answer.
Emphasis on the second sentence.

Glad to see you’re still fighting an uphill battle here, Bob.

Keep on keepin’ on!

[_bob]

Glad to see you’re still fighting an uphill battle here, Bob.

Knowledge can be learnt, capital can be raised. Boxes rule.