2 questons from newbie-timeframes

Hey everybody,

I'm brand new to the market and have a couple questions:

1. About how long does it take to know what you're doing in forex?

2. What time frame is the best to trade for someone just starting out?

Thanks.

1) 6 months to 2 years. It's largely luck if you win at this stage.
2) 1 hour minimum. Learn to swing trade. Scalping is tempting because it appears to be lower risk and more fun, but unless you have a good system and a lot of discipline, it will haemmorhage your account.

You should take a forex course or two. Screen the beginners section of the forum which is an educational tool. Also, if you can find a mentor, your off to a good start.

Good Luck

1. well, there are two answers, depending on how you approach it
a. as long as it takes for you to blow your first account on stupid mistakes (i was one of these)
b. as whtenn said, if you get a good mentor who steers you in the right direction, you can be well on your way within 6 months (i did this AFTER i screwed myself)


2. 4H or Daily

First question, how long does it take to know what your doing?

How much time and devotion are you putting into it? What is your learning rate? I've seen incredibly intelligent people learn to trade efficiently within a year and then people that are dumb as rocks take 5 years.

The more you put in, the more you'll get out of it. Period.

As for timeframes, I know your probably not going to listen to me because you cant see making a billion dollars in a week like this, but I would suggest looking at the daily and weekly charts first. Hourlies are too fast and there is a good bit of noise when compared to a daily chart. Once you are capable of trading efficiently on longer timeframes, you may be able to move down, but why would you want to? Its more stressful that way.

If you have any more questions, just send a PM my way. I'd be more than happy to get you started on the right track. That goes for everybody starting out too. I've been there so I know it's tough starting out.
I'll give everybody basically the same info....for a small fee of 1500$ per word. jk.