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Which advise is correct?

  • Post #1
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  • First Post: Oct 12, 2009 1:23pm Oct 12, 2009 1:23pm
  •  efiler
  • | Joined May 2008 | Status: Member | 69 Posts
Some trader says he is successful in shorter timeframes, a forex teacher says shorter than one hour timeframe is not worthy to trade, we would loss our account in them. I am confused.
  • Post #2
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  • Oct 12, 2009 1:29pm Oct 12, 2009 1:29pm
  •  AgentFx
  • Joined Jun 2008 | Status: Resistance is futile | 349 Posts
I would listen to the forex teacher, it seems like good advice


Quoting efiler
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Some trader says he is successful in shorter timeframes, a forex teacher says shorter than one hour timeframe is not worthy to trade, we would loss our account in them. I am confused.
Ignored
It's me...
 
 
  • Post #3
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  • Oct 12, 2009 1:33pm Oct 12, 2009 1:33pm
  •  Xaron
  • Joined Apr 2007 | Status: Evil Kraut | 2,743 Posts
I second that. But of course there are traders out there making money in the shorter timeframes. For ME that did not work.
 
 
  • Post #4
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  • Oct 12, 2009 1:34pm Oct 12, 2009 1:34pm
  •  Pharoah
  • | Joined Aug 2009 | Status: Gone | 925 Posts
Quoting efiler
Disliked
Some trader says he is successful in shorter timeframes, a forex teacher says shorter than one hour timeframe is not worthy to trade, we would loss our account in them. I am confused.
Ignored
It can work both ways. Personally, I prefer larger timeframes, because they give you a much clearer picture. lower timeframes could say one thing, and the higher timeframes could say the exact opposite, which one would you listen to? Same applies here, small trader says success in low timeframes, TEACHER says success in higher timeframes. Who should you listen to?
 
 
  • Post #5
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  • Oct 12, 2009 1:38pm Oct 12, 2009 1:38pm
  •  GulfCoastPip
  • Joined Jan 2008 | Status: I'll Take Your Pips | 1,338 Posts
Quoting AgentFx
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I would listen to the forex teacher, it seems like good advice
Ignored
Not all FX traders make good teachers and not all teachers are successful FX traders. In fact, I'm willing to bet that most are teaching because they weren't successful at trading.

That being said though....I'm sure there are some (very few) very successful FX traders that are now teaching and are quite good at teaching. Definitely, not the norm though.
 
 
  • Post #6
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  • Oct 12, 2009 1:45pm Oct 12, 2009 1:45pm
  •  Jhig
  • Joined Oct 2008 | Status: Sentiment and Global Macro | 2,321 Posts
It would all depend on the trader's experience level.
 
 
  • Post #7
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  • Oct 12, 2009 1:57pm Oct 12, 2009 1:57pm
  •  magnumfreak
  • Joined Nov 2007 | Status: Trying manual mode again | 2,210 Posts
both are correct. It is up to you to find the time frame you are most comfortable trading. I do horrible in longer time frames but really well in shorter time frames.
 
 
  • Post #8
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  • Oct 12, 2009 2:16pm Oct 12, 2009 2:16pm
  •  Hertzvanrent
  • | Joined Feb 2009 | Status: Member | 44 Posts
The general idea is to follow the trend and the trend is usually easier to see on the daily.

Ask yourself what other traders are doing; if everyone is trading with the trend on their particular TF of choice then the larger TF´s are the aggregate of all those trades, so it´s not surprising it´s a clearer picture.

I enter my trades on the 1m. But only in the direction of the daily trend.
 
 
  • Post #9
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  • Oct 12, 2009 2:58pm Oct 12, 2009 2:58pm
  •  moneymaker2
  • Joined Sep 2008 | Status: neurological anomaly | 1,047 Posts
Quoting efiler
Disliked
Some trader says he is successful in shorter timeframes, a forex teacher says shorter than one hour timeframe is not worthy to trade, we would loss our account in them. I am confused.
Ignored
People can only teach what they know, so the teacher may have bad experiences with short time frames, but that certainly doesn't mean others are not very proficient at trading them. The 'correct' time frame is only defined as the one that you are comfortable with and in which you can consistantly make a profit!

Don't forget success really depends on how you measure it individually. Some people consider $500/day a success while others consider $500/week a success. Who is to say both are not correct?...
 
 
  • Post #10
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  • Oct 15, 2009 1:10pm Oct 15, 2009 1:10pm
  •  blacksun1
  • Joined Jun 2008 | Status: member | 577 Posts
Quoting Xaron
Disliked
I second that. But of course there are traders out there making money in the shorter timeframes. For ME that did not work.
Ignored
i like this reply. notice how he stressed "ME." find what works for you. not everyone ties there shoes the same way, neither will they trade the same way. find what works for you and go with it. try both and see what you can make money in.
 
 
  • Post #11
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  • Oct 15, 2009 2:33pm Oct 15, 2009 2:33pm
  •  BobHall
  • | Membership Revoked | Joined Jun 2009 | 557 Posts
I think the teacher is full of it to be honest.

Money can be made on any time frame, one just has to know, shorter the time frame, less that can be made. End of the day, it's not the time frame, it's the person who executes the trade that causes the loss by getting in at the wrong time, or not closing their trades in time when an opposite signal was created missing the TP whilst hitting the SL.
PM Me If You Need Help!
 
 
  • Post #12
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  • Oct 16, 2009 5:33pm Oct 16, 2009 5:33pm
  •  tyler812
  • | Joined Dec 2007 | Status: Member | 246 Posts
I have found that smaller timeframes are much more difficult to trade, due to the increased noise. Movement for many pairs seems to smooth out a little on the larger timeframes (H4, Daily and above). Many people also find it much less stressful taking a handful of trades a month and letting them run for days or weeks than staring at a screen for hours on end, taking many smaller trades every day.
skype: ststroud. let's talk trading.
 
 
  • Post #13
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  • Oct 16, 2009 6:36pm Oct 16, 2009 6:36pm
  •  zarraman
  • | Joined Oct 2009 | Status: Member | 113 Posts
Quoting efiler
Disliked
Some trader says he is successful in shorter timeframes, a forex teacher says shorter than one hour timeframe is not worthy to trade, we would loss our account in them. I am confused.
Ignored
I work in import/exports for a large muti-national company, hedging for protection from loss. I have always believed that the big profits that we make from our long term positions is made from the short term losses of all the daytraders/scalpers.
Not saying that short term trading is not profitable. But I don't believe that it is.
 
 
  • Post #14
  • Quote
  • Oct 16, 2009 8:49pm Oct 16, 2009 8:49pm
  •  smjones
  • Joined Mar 2006 | Status: THANK YOU MERLIN,TWEE and FF Team | 4,603 Posts
To be absolutely honest, I don't see any difference in any time frames or in any market. If you remove the scale and grid form any chart, all charts look the same. I personally trade mostly a 5minute chart, but sometimes my trades will last from a hour to several days. So the time frame is not important to me at all. I see what I am looking for in price, not in time. I know others are big on time calculations, but I am not. Nor do I care at all what market I am trading, other than to make sure I am up on the fundies of that market and the price info. In fact, many times, I don't use a chart at all and when I do, I only use two horizontal lines to make my decisions from. I have looked at a lot of differnet methods over the years and have come back full circle to the most simple and for me most profitable style of trading, from just price and fundies and the latest occasional rumor to fade.

However, having said this, for a person just starting out, I think I would also advise H1 and greater because if you are trading from bars or candles, you are not so hurried to make decisions. I am actually dubious of the H4 and Daily time frames, because the H4 and Daily time frames are not the same for everyone. If I were a new trader, I would want to trade a time frame that is common, so there might be greater validity in price movements and then look for uncommon inefficiencies to exploit.
 
 
  • Post #15
  • Quote
  • Oct 16, 2009 9:29pm Oct 16, 2009 9:29pm
  •  trading801
  • | Commercial Member | Joined Aug 2008 | 7,691 Posts
Quoting efiler
Disliked
Some trader says he is successful in shorter timeframes, a forex teacher says shorter than one hour timeframe is not worthy to trade, we would loss our account in them. I am confused.
Ignored
Hi buddy, there is no right or wrong i feel.. it just depends on what your style is..
 
 
  • Post #16
  • Quote
  • Oct 17, 2009 6:31am Oct 17, 2009 6:31am
  •  peter100
  • | Joined May 2006 | Status: Member | 124 Posts
i recall linda raschke saying, that you should treat each timeframe as a separate market...basically a timeframe determines your risk and profit target that you play for in my eyes
 
 
  • Post #17
  • Quote
  • Last Post: Oct 18, 2009 5:09pm Oct 18, 2009 5:09pm
  •  hilmy83
  • Joined Jun 2006 | Status: Do NOT tilt | 5,708 Posts
the only difference i see between longer timeframes vs short timeframes is cost of trading. So essentially you might have a slight edge trading the longer timeframes cause the spread do add up in the long run. Being a cut throat business as it is, you need every edge you can get..
Working towards CME membership
 
 
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