Currently I'm trading mostly the H1, and this is where most of my backtesting has been done. An initial trip into Daily and H4 range made me feel the trends are alot smoother and there's less whipsawwing going on (I place trade, price spikes above previous spike hitting my SL, then goes my way).
The biggest problem with H1 is that when I sleep or go somewhere I miss like 8-12 bars. On a H4 timeframe I would miss only 2-3 bars, and the chances of missing a setup or exiting a trade without being able to adjust SL after price has moved sufficiently are much smaller there. The negative of the H4 timeframe is obviously only 1/4 of the number of trades (although this might only be 1/2 or 1/3 since I'm missing atleast 1/3 of the signals of H1 when sleeping) and that might be a problem with regard to sufficient experience trading demo/a small live account before going live with the full amount.
Any traders here that spent time trading H1/H4/Daily and feel it's a big improvement when they switched to another? I have pretty much all day for trading (1 hour here or there not being at the computer) but the main problem is overnight open trades.
The biggest problem with H1 is that when I sleep or go somewhere I miss like 8-12 bars. On a H4 timeframe I would miss only 2-3 bars, and the chances of missing a setup or exiting a trade without being able to adjust SL after price has moved sufficiently are much smaller there. The negative of the H4 timeframe is obviously only 1/4 of the number of trades (although this might only be 1/2 or 1/3 since I'm missing atleast 1/3 of the signals of H1 when sleeping) and that might be a problem with regard to sufficient experience trading demo/a small live account before going live with the full amount.
Any traders here that spent time trading H1/H4/Daily and feel it's a big improvement when they switched to another? I have pretty much all day for trading (1 hour here or there not being at the computer) but the main problem is overnight open trades.