What time frame is the best for trading Forex?
3/6/2017
.gif)
There is no clear-cut answer to this question. Every Forex trader has his/her own preferences, trading techniques, strategies. Some traders need an energy boost, excitement, special drive that comes from trading in and out of the market multiple times a day. Others prefer serenity, care about their nerves; well, let’s say they are mildly interested in trading as the source of getting money. They consider it more like a hobby, so, they prefer trading on weekly, daily timeframes, not obliging themselves to be glued to the screens all the time.
From our train of thought, it is easy to come to the following conclusion: there are no “best” timeframes, there are timeframes that suit you the best, that works best for you.
But I bet you’re unsatisfied with such response. Unfortunately, we don’t know the readers of our public in person. But even if we knew, we wouldn’t be able to identify your personality. Because you know yourself better than some strangers from Bazooka analytical department. Here what we do, we will list some advantages, specificities of trading on various timeframes.
Let’s start with the classic – daily and 4-hour timeframes.
Advantages Disadvantages
- these two timeframes work the best with the price action strategies. And we would highlight the following advantages of trading on these timeframes:
- act as natural news filter (price action normalizes throughout the day and creates a smoother market to trade, whereas on lower timeframes you’re exposed to significant swings and troughs);
- easier to develop a directional bias (because daily and 4-hour time frames allow you to obtain a general overview of the market situation; there’s a reason why even scalpers look at higher timeframes to identify their support and resistance levels);
- fundamental analysis becomes very handy; these timeframes help you to be more objective in choosing a direction of the prices since you make your decisions based on economic releases, political event and other factors that you can’t control;
- no need to spend lots of time in front of the screen.
-transaction costs can be really high;
- there is an overnight risk;
- you lose some trading opportunities that appear throughout the day (you earn less than you could while trading on lower timeframes);
- demands lots of patience and self-control from the trader.
Trading on 1-minute/15-minute/30-minute charts
Advantages Disadvantages
- there are lots of profitable trading opportunities, that you won’t miss trading on the lower timeframes;
- there is no overnight risk;
- you can prevent yourself from significant losses
- transaction costs are rather high;
- it is more difficult mentally and emotionally;
- you should keep a constant track of your trades.
Choose your best timeframe, earn lots of money and bon vivant, dear traders!
More:
https://new.fxbazooka.com/analytics/12746
3/6/2017
There is no clear-cut answer to this question. Every Forex trader has his/her own preferences, trading techniques, strategies. Some traders need an energy boost, excitement, special drive that comes from trading in and out of the market multiple times a day. Others prefer serenity, care about their nerves; well, let’s say they are mildly interested in trading as the source of getting money. They consider it more like a hobby, so, they prefer trading on weekly, daily timeframes, not obliging themselves to be glued to the screens all the time.
From our train of thought, it is easy to come to the following conclusion: there are no “best” timeframes, there are timeframes that suit you the best, that works best for you.
But I bet you’re unsatisfied with such response. Unfortunately, we don’t know the readers of our public in person. But even if we knew, we wouldn’t be able to identify your personality. Because you know yourself better than some strangers from Bazooka analytical department. Here what we do, we will list some advantages, specificities of trading on various timeframes.
Let’s start with the classic – daily and 4-hour timeframes.
Advantages Disadvantages
- these two timeframes work the best with the price action strategies. And we would highlight the following advantages of trading on these timeframes:
- act as natural news filter (price action normalizes throughout the day and creates a smoother market to trade, whereas on lower timeframes you’re exposed to significant swings and troughs);
- easier to develop a directional bias (because daily and 4-hour time frames allow you to obtain a general overview of the market situation; there’s a reason why even scalpers look at higher timeframes to identify their support and resistance levels);
- fundamental analysis becomes very handy; these timeframes help you to be more objective in choosing a direction of the prices since you make your decisions based on economic releases, political event and other factors that you can’t control;
- no need to spend lots of time in front of the screen.
-transaction costs can be really high;
- there is an overnight risk;
- you lose some trading opportunities that appear throughout the day (you earn less than you could while trading on lower timeframes);
- demands lots of patience and self-control from the trader.
Trading on 1-minute/15-minute/30-minute charts
Advantages Disadvantages
- there are lots of profitable trading opportunities, that you won’t miss trading on the lower timeframes;
- there is no overnight risk;
- you can prevent yourself from significant losses
- transaction costs are rather high;
- it is more difficult mentally and emotionally;
- you should keep a constant track of your trades.
Choose your best timeframe, earn lots of money and bon vivant, dear traders!
More:
https://new.fxbazooka.com/analytics/12746
.png)
.png)
.png)
.jpg)
.png)
.png)
.png)
.jpg)
.png)
.png)
.png)
