Time frames

FxProTrader

Private, 1st Class
Messages
48
I just have a habit to look for the major trend with a daily timeframe, but because usually trading for short term or swing trading, then look also on hourly, and for scalping will look on M5 as my favorite scalping timeframe.
Whenever i am trading i always make use of the H1 and the M1 Time frames so that i can get to know about the Daily Trends that are present.
 

bigdolly

2nd Lieutenant
Messages
1,083
Whenever i am trading i always make use of the H1 and the M1 Time frames so that i can get to know about the Daily Trends that are present.
Yeah I would also add 15M if you use 1H because they complement each other (in terms of use MACD for example).
 

RooRoo

Corporal
Messages
101
See choosing a time frame depends upon the trading style you opt. its not mandatory that you stick to one time frame, you would need to switch the time frames to get a better picture of the instrument. Smaller timeframes give you the current picture and larger time frames provide you a long term approach. So if you are scalping its better to use minutes timeframes I personally prefer 5 minutes to 10 minutes. when I am about to close the trade I cross check on 1 minute time frame and decide my exit point.
This makes a lot sense, thank you
 

RooRoo

Corporal
Messages
101
You have to find what is best for you. I find that simply RSI based strategy works better on higher timeframes because there is less noise on them and momentum works better there.
Are you saying higher time frame is more predictable?
 

RooRoo

Corporal
Messages
101
It seems to me that recently, many popular assets have become quite volatile. And not all of them will be suitable for the old one scalping. So I think it is better to use different timeframes for each asset. This way you will have a better opportunity to learn something and not lose money from your deposit. But this is just my opinion.
So not a one size fits all to each asset.
 

RooRoo

Corporal
Messages
101
Hi Roro,

Normally I use the Day and 4 hour charts to find a certain trend then scale down to smaller time frames to strike a good entry. But like many have mentioned before; it really depends on your strategy...mine tends to be on long term swings...

Good luck with what ever timeframe (S) you choose.

Thanks
Pheniox
Thank you
Not rushing with this, practicing on the charts and testing what works so it is great to hear this feedback to explore myself
 

pujiono

Private, 1st Class
Messages
26
Hi all, hoping to get some idea of whether it is a good idea to trade on different timeframes (e.g. scalping and intraday) or whether it is best to stick to one timeframe strategy?
Hi, timeframe choosing depends on your convenience and trading style. For me, I follow London n NY overlapped time. Whether you go for scalping or intraday, choose a comfortable timeframe and try to continue it to monitor your improvement. That's what helped me a lot. Good luck.
 
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