Trade the right timeframe. Timeframes are going to play a huge part in how successful you are as a trader. Generally when we first embrace For

[Realjosh254]

Trade the right timeframe
Timeframes are going to play a huge part in how successful you are as a trader. Generally when we first embrace Forex trading, we are easily lured into the lower timeframes. Other trades make promises that the lower timeframes offer ‘more trading opportunities’ and the ability to ‘make more money’. What they don’t tell you are the signals have much less value on the lower time frames as they do the with the higher timeframes.

Low timeframes – Lots of signals, but low quality. Plenty of breakout traps to be caught
up in, and lots of market noise.

High timeframes – Less signals, but with low risk high reward profiles. Less breakout traps and more market stability and clarity.

✍ Don’t fall into the idea of trading on the lower timeframes will make you more money or enter a Forex trade via lower quality signals. You’re taking trades that contain no real substance or value. They don’t contain enough price action data, and expose you to a high level of risk. Intraday noise on the low timeframes can be so intense, trying to trade it is really just 'chasing ghosts’.

 

[nsrajpal]

Trade the right timeframe
Timeframes are going to play a huge part in how successful you are as a trader. Generally when we first embrace Forex trading, we are easily lured into the lower timeframes. Other trades make promises that the lower timeframes offer ‘more trading opportunities’ and the ability to ‘make more money’. What they don’t tell you are the signals have much less value on the lower time frames as they do the with the higher timeframes.

❇ Low timeframes – Lots of signals, but low quality. Plenty of breakout traps to be caught
up in, and lots of market noise.

❇ High timeframes – Less signals, but with low risk high reward profiles. Less breakout traps and more market stability and clarity.

✍ Don’t fall into the idea of trading on the lower timeframes will make you more money or enter a Forex trade via lower quality signals. You’re taking trades that contain no real substance or value. They don’t contain enough price action data, and expose you to a high level of risk. Intraday noise on the low timeframes can be so intense, trying to trade it is really just 'chasing ghosts’.

Very true, However depending on your availability. If you only have 30min-1 hour a day then only daily price chart will help and if you have 2-4 hours a day or can attend on of the live sessions then trading 1 hour chart even not a good idea better go for 5-15 min chart and find out patterns. There are plenty of indicators or websites like autochartist who give live patterns emerging in the market. Just trade those and you will be fine on smaller or higher time frame with right risk management strategies in place.

 

[Ashioya]

Trade the right timeframe
Timeframes are going to play a huge part in how successful you are as a trader. Generally when we first embrace Forex trading, we are easily lured into the lower timeframes. Other trades make promises that the lower timeframes offer ‘more trading opportunities’ and the ability to ‘make more money’. What they don’t tell you are the signals have much less value on the lower time frames as they do the with the higher timeframes.

❇ Low timeframes – Lots of signals, but low quality. Plenty of breakout traps to be caught
up in, and lots of market noise.

❇ High timeframes – Less signals, but with low risk high reward profiles. Less breakout traps and more market stability and clarity.

✍ Don’t fall into the idea of trading on the lower timeframes will make you more money or enter a Forex trade via lower quality signals. You’re taking trades that contain no real substance or value. They don’t contain enough price action data, and expose you to a high level of risk. Intraday noise on the low timeframes can be so intense, trying to trade it is really just 'chasing ghosts’.

The time frame one chooses will really be determined by their personality. If you are patient enough, swing trading will be great for you, scalping really suits those that are impatient and wanna see their results real quick. Choose wisely!

 

[Ozz]

Very useful information. Will be trying to trade the 1H time frame and see how it goes!

 

[nhatnam0103]

I think the high time frame is suit for the newbie like me, my favorite is 4H and 1D time frame.