Time frames

[RooRoo]

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?

 

[Pheniox123]

Hi there,

I think most people have a favourite timeframe they study deeply but they all depend on looking at the other time frames to find your perfect entry points. Hence, you do need to look at other time frames to give you a bigger picture of what the market is heading.

Thanks
Pheniox

 

[RooRoo]

Hi there,

I think most people have a favourite timeframe they study deeply but they all depend on looking at the other time frames to find your perfect entry points. Hence, you do need to look at other time frames to give you a bigger picture of what the market is heading.

Thanks
Pheniox

Thanks Phoenix , how many timeframes higher would you look for an overall outlook?

 

[kim855]

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?

i have a freind who trades 1 hour direction and then scalps 1 min time frame god knows how

 

[RooRoo]

i have a freind who trades 1 hour direction and then scalps 1 min time frame god knows how

Wow really ! Never touched the 1 min time frame myself

 

[ele020]

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?

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.

 

[sebking1986]

I can imagine it can get overwhelming having multiple strategies that require scanning many different time frames but as many have mentioned I refer to a few when identifying trends and then scale down for entries and exits as I think most do for longer term trades.

 

[Gromvelt]

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.

 

[bigdolly]

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?

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.

 

[Pheniox123]

Thanks Phoenix , how many timeframes higher would you look for an overall outlook?

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