That is so well put up. Honestly, I am glad you said all these things so well loud up and clear.
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has to be daily and 4 hour time frames to check the charts then if in area of interest will look on lower timeframe for entry’s
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Exactly!
Each trader has his own plan and accordingly decides about the time frame.
Yeah, depends on what you’re trading and the trading style too.
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Hi, very interesting discussion, I trade on 1H time frame because I make my entries around news times, I recently made some changes to my edge and I personally think it is important not to change the main time frame. By main time frame I mean the one where orders are placed etc. I use daily frame to check for main trend direction.
I go by this too. Trading on daily chart also protects you from minor news, also I cannot afford to give enough time to trade on lower time frames.
trading market open for london and newyork with set ups on the 4 hour and 1 hour and entrys at 3 min zone
I trade on an hourly timeframe.
The right time-frame to trade is the one that gives you the clearest picture of what price has been doing. It must also be the one that has at least adequate dependability - i.e. TA features in this time-frame tend to be relevant and not just random patterns. The price movements themselves need to be persistent in one direction more than another, with comparable range so they also are not completely random.
All of which points to the daily time-frame…
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I’m all for intraday trading going 30 minutes- 4 hours. It’s actually going decent enough for me. Luckily I haven’t made any big losses yet, so I guess my strategy’s working fine.
I prefer to use lower time frames usually .
Woo that’s one great intro. I’m a scalper and am comfortable with the 15 minutes time frame. Though I’m rethinking about it and planning on taking help from my mom who’s a scalper too coz I’m not doing great with this strategy. Any suggestions for me here?
Not much from me unfortunately as I don’t scalp. Have tried it and it’s not my style. Not saying that you can’t make money from it as I’m sure some do, but I would much rather stick to the longer timeframe which gives me more freedom.
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I use higher time frames more than lower ones to avoid noise and the hassle that comes with them.
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That’s exactly why the higher timeframes will always win over the shorter timeframes IMO.
I’m a fan of 4hours GBPUSD pair/timeframe.
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Trading just to gain some experience and started scalping since the time frame suits my style. But kinda worried because of the pressure it mounts us.
Scalping is not impossible but it is not easy my friend. All the best and hope it works out for you.
Hi, Cloudninee, nice write-up. I came into Forex June, 2020, during lockdown, from lack what to do. For me I am still trying to see which will work, but I guess Daily or Lower TF will work for each reason - big capital, Daily TF: small capital, Lower TF.
Please, kindly point out the name of your broker, cos I am still having hard time picking one. Since u have been in the game and haven’t experienced a sour taste from the one u are using
Thanks
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I look at every time frame over 5 minutes before I look for trade setups. Confluence and convergence.
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