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Quoting jakobia
What is the best timeframe to use then pattern trading?

It depends on how long you have been trading. Some people can trade on a 5 minute chart and do ok while others sink. The higher the timeframe you trade, the better chances you have of winning. Trading weekly and daily charts are very boring to almost all of us which makes it hard to trade on those timframes but is easier to get the pips as long as you don'tlose your patience and close a trade too soon. The way I trade is to look at the overall picture by looking at the weekly and daily charts to find something worth trading. Then I will drop down to a 4 hr or 1 hr chart and find the patterns. Once I find a pattern I am comfortable with I will open a trade on either the 4 hr or 1 hr chart. My patience sucks when it comes to trading so if I am going to watch the charts once the trade is on I will watch a 15 minute chart. I have been trading for quite some time now so I will open trades based on a 15 min chart sometimes but I prefer to base my trades on at least a 1 hr chart.
JOHN 3:16
Quoting renasdad
{quote} It depends on how long you have been trading. Some people can trade on a 5 minute chart and do ok while others sink. The higher the timeframe you trade, the better chances you have of winning. Trading weekly and daily charts are very boring to almost all of us which makes it hard to trade on those timframes but is easier to get the pips as long as you don'tlose your patience and close a trade too soon. The way I trade is to look at the overall picture by looking at the weekly and daily charts to find something worth trading. Then I will...

May I add a few points here

You'll find patterns pretty much everywhere you look whether its 1m , 30sec or 1h and weekly. My suggestion is to trade them all get your feet wet test the waters on demo, when I first started on demo I was trading daily then as my experience and screen time accumulated I went down to 1m and 30sec, trading TFs like 1m and 30sec require a lot of skill and patience and you have to combine them with higher TFs like 10m,15m,30m up to 4h in order to keep yourself with the herd.

I have traded them for a year and I still lack so much I still can't make anything out of 1m chart but recently I started trading 1h charts and its been smooth sailing. But I can't say I would have traded 1h charts comfortably if I hadn't experience and rollercoaster ride of 1m and 30sec charts, trading them accelerated my learning curve 10x.

And last but not least it really depends on you and your temperament if you want to settle with 1m or 1h or even 4h , try them all and see you how you get on. You can't trade 1m charts without having to keep up with 2m,5m,15m,30m,1h and 4h charts you can't ! there're so much noise and randomness when you go as low as 15sec that you might lose track of the big picture. But if you're trading 1h you don't have to care whats up on 1m I like to look at 30m if i'm not sure and 4h,12h and daily just to be sure for extra confirmation that I'm in the right direction the right time.

Besides the TF you want to be more concerned with the pair or index you're trading, try to learn their behaviour each pair and index has their own way of moving through the day, sometimes time of the day matters you'll see a correction or a continuation or a reversal during certain time of the day or some sessions. Asian session is mostly the follow up session from what I've experienced, I've seen reversals happening late US session and Asia would follow up, Asia is usually slow you may buy EURAUD 8:00AM UTC it may not move much after your entry although you had a perfect entry then 6GMT comes that's 1 hour prior Frankfurt and you'll see your position jump up and down usually a good correction happens this time and then 7GMT voila ! you get a 40-50run up when you're an hour into London. Those are little things that might help you a bit in the long run.
...
Quoting renasdad
{quote} https://www.metatrader4.com/en
Thanks for the reply but the installer on that site install MT5 and not MT4 even if they say it's MT4.

Maybe someone else has a copy of the latest full installer.
According to me the best time frame for my trading work is H4 or DAY because that is more accurate and we can make assure trade with our strategy. The longer time frame we use, the more chances of a positive trade.
Quoting Butterscotch
According to me the best time frame for my trading work is H4 or DAY because that is more accurate and we can make assure trade with our strategy. The longer time frame we use, the more chances of a positive trade.
I think, time frames depend on your trading type/style! No doubt, for swing trader H4/D1 is the best option! I am also comfortable with the D1.
hi guys! im new to forex, im trying to figure out the best way to trade KRW/USD, can somebody please tell me the best way/program to do that? (avoiding deposit and withdrawl fees)
Quoting CryptoPhil
hi guys! im new to forex, im trying to figure out the best way to trade KRW/USD, can somebody please tell me the best way/program to do that? (avoiding deposit and withdrawl fees)
fly to S-Korea, and change in a local bank or money exchange booth.
no deposit or withdrawal fee!

( warning: huge spread and cost of flight may exceed the deposit and withdrawal fees!!!)

Joke aside, AxiTrader for example offers UsdKrw to trade, and i think they have no deposit or withdrawal fees.
there is always, always another trade!!
Quoting profitfarmer
{quote} fly to S-Korea, and change in a local bank or money exchange booth. no deposit or withdrawal fee! ( warning: huge spread and cost of flight may exceed the deposit and withdrawal fees!!!) Joke aside, AxiTrader for example offers UsdKrw to trade, and i think they have no deposit or withdrawal fees.
That crossed my mind too ahah.

Thanks i will take a look!
Do you know what causes this problem with AUDUSD?

This code in my MT4 script:

Alert("audusd high is: ",iHigh("AUDUSD",PERIOD_H4,0));
Alert("eurusd high is: ",iHigh("EURUSD",PERIOD_H4,0));

Gives this result:

eurusd high is: 1.3685
audusd high is: 0

Thanks in advance.
Quoting CryptoPhil
hi guys! im new to forex, im trying to figure out the best way to trade KRW/USD, can somebody please tell me the best way/program to do that? (avoiding deposit and withdrawl fees)
May I know; why you are interested in such an exotic trading pair? I think, new traders should start their trading with the major pairs only!
Hi,

I've just joined the ForexFactory.com forums in order to get some guidance and help, because I'm still a complete beginner to the whole trading thing. By the way, what's specifically made me join the forums is the book "Order Flow Trading for Fun and Profit" that I'm currently reading.

So far I've reached the middle of the book and then at the chapter discussing stop losses, I've got stuck not fully understanding some stuff.

That said, I just wonder if you, renasdad, would be happy and willing to occasionally answer some of my newbie questions related to both the above mentioned book and generally, concerning the matter of trading.

Just before I go, I'd like to let you know that despite the fact trading isn't actually part of my core strengths, after having studied through the BabyPips' free online course, I very pleasantly realized that I not only find trading fun and exciting but I also find it perfectly suitable for my creative, competitive and dreaming BIG personality that's super passionate about doing whatever it takes to reach my desired financial freedom.

Finally, my current plan is to study through the theory for another few weeks and then start practicing trading through either backtesting or demo trading.

In advance many thanks for all your help and support regarding my desire, determination and will to succeed at consistently winning as a future super profitable trader.

Talk to you, later!!

DreamBIGFX
Hi I need help im currently a graduating student hoping to earn some extra cash in forex but I dont know wgere to start. Is there a good material that can teach me the basics and terminologies pf forex?

O initially thoughy scrapping is the best system for beginners and upon reading disregarded the idea.

What path should a beginner take to easily learn what kind of system would be beneficial for him?

Thank you
Quoting shace1093
Hi I need help im currently a graduating student hoping to earn some extra cash in forex but I dont know wgere to start. Is there a good material that can teach me the basics and terminologies pf forex? O initially thoughy scrapping is the best system for beginners and upon reading disregarded the idea. What path should a beginner take to easily learn what kind of system would be beneficial for him? Thank you
Before making your profitable trading strategy you need to know the basic of Forex! I think, babypips school is a good source to start with; besides; you can use ‘Trading Discussion’ section of this forum.
Quoting Majeeda
{quote} Before making your profitable trading strategy you need to know the basic of Forex! I think, babypips school is a good source to start with; besides; you can use ‘Trading Discussion’ section of this forum.

Thanks Majeeda!
Quoting renasdad
I have a feeling this is a thread noone has posted before. I love helping people. I know what it is like to not have a clue when it comes to know where to start with this forex jargen. If there is anyone that has questions that they feel are too stupid to ask publically, you can PM me. If there is anything that doesn't make sense to you, ask. If I don't know the answer, I will do my best to find it. I come here everyday looking for the "newbie" questions to find someone already ansered them. I love helping people. There have been so many people...
I'm very new to trading FX, I understand the basics of things like stop losses and how to go about a trading platform. but I want to digest as much information as I can before opening a real account. I've watched plenty of YouTube vids and a lot suggest getting a mentor? what tips would you give to someone is 100% committed to taking trading on as a career. would training courses be the way? or should I join a group to receive signals and use them to try and understand how experienced traders read the market. too many trips to shopping centres staring at unaffordable items has got me thirsty to make some real money, lol. Any advice is welcome, Regards.
Quoting mattcomFX
{quote} I'm very new to trading FX, I understand the basics of things like stop losses and how to go about a trading platform. but I want to digest as much information as I can before opening a real account. I've watched plenty of YouTube vids and a lot suggest getting a mentor? what tips would you give to someone is 100% committed to taking trading on as a career. would training courses be the way? or should I join a group to receive signals and use them to try and understand how experienced traders read the market. too many trips to shopping centres...
Don’t go for any signal service! Because, most of them are the scammers! It would be better, if you can manage a good mentor! But, it’s not easy to manage since, they are not available here & there.
Hi, I am trying out a system of mine for 2 months. The first month resulted to 54% winning rate while the second month resulted to 32% winning rate. I open around 35 trades per month. Is the difference between the two still normal? I am using a 1:1.5 risk reward ratio so I am break even at 40%. I have back tested this for 3 months before forward testing for 2 months. The 3 months of backtest all showed a higher than 50% winning rate. Can you please give me any insight about this?
Hello... Mattcom
I would like to learn coding can you recommend a contact or an ebook or perhaps you can teach me?
I could possibly help the person who helps me, I have traded for 40 plus years and have put together a few systems that work.
I have also taught Many people to trade. I am severely physically challenged and am only able to lie down in bed. The computer is on a special table which moves across my bed, however, that's not important.
Once we establish a relationship I'll tell you how my fiat came about circa 1944
Thank you in Advance.
OldHand
i would like help building a strategy surrounding 8am - 1pm trades on the eur/usd cross Tuesday Wednesday and Thursday
Please share with us the strategy that really works, thank you
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