Hi traders,Can you just teach me how you peoples study candle psychology …Which time frame for study chart well. Is that 15 mnt better for study candle
Very few traders can make a consistent profit at the 15-minute time-frame or shorter, and so its probably too short for learning purposes. At fist, stick with 4-hours or daily, but get a demo account and trade this until your fingers bleed. Better your fingers bleed than your bank account.
1 Like
Longer the better , this may help
The longer ,the better to learn,gather more pips.But you must not cry seeing your gains turn to loss before ,perhaps rising again.Time frame depends on “personality”
If you dont have patience,go for short term frame
Don’t look at candles. Analyze market structure. See the videos I posted in you other thread on price action.
There is a lot of noise in short-timeframes if you want to get better winning ratio of trades based on candlestick patterns go to 4H, Daily or weekly chart. The underlying idea is that more investors (=market) care about test or breakout of weekly high or weekly low, hence those levels tend to play out better. You will make less trades, will pay less commission but equity growth will be slow (basically it is the only disadvantage).