Which time frame and why? | Forex Factory

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Which time frame and why?

  • #1
  • First Post: Apr 21, 2010 4:17am Apr 21, 2010 4:17am
This has probably been asked countless times, but I am curious to know what timeframe people use on charts and is there any particular reason for this preference.

For me I tend to use the 30 & 15 min chart as this gives me enough information to see current trends without giving me to much information. I will often look at the 4 hour charts once in trade to see the bigger picture, but don't rely on this for making trades. I tend to trade fairly short term, trades rarely staying open for more than a few hours and very occassionaly being held overnight.
  • #2
  • Apr 22, 2010 2:35am Apr 22, 2010 2:35am
Quoting ToxicChili
This has probably been asked countless times, but I am curious to know what timeframe people use on charts and is there any particular reason for this preference.

For me I tend to use the 30 & 15 min chart as this gives me enough information to see current trends without giving me to much information....
The timeframe choice depends on the trading style. M15/M30 is useless if you are a long-term trader and leave your positions open for weeks. And if you are a scalper even M1 can be too high timeframe. As for me, I trade on D1/W1.
  • #3
  • Apr 22, 2010 2:55am Apr 22, 2010 2:55am
Quoting enivid
The timeframe choice depends on the trading style. M15/M30 is useless if you are a long-term trader and leave your positions open for weeks. And if you are a scalper even M1 can be too high timeframe. As for me, I trade on D1/W1.
At the moment I make either none, one or two trades a day. I don't hold the trades for any major length of time, the longest being around 6 hours, but I vary my strategy depending on how the market is behaving.
  • #4
  • Apr 22, 2010 3:11am Apr 22, 2010 3:11am
At the moment I trade H4. It depends on your trading system/strategy and how you want it to revolve around your life.

Hey Enivid.

I was wondering what type of stategy are you using to trade on the monthlys and dailys. Im hoping to trade this way as soon as I can. Less stress, effort and time ; as you probably know.

Cheers Mate!

  • #5
  • Apr 22, 2010 3:26am Apr 22, 2010 3:26am
I start at the outside and work in. so starting at daily, sometimes even checking weekly.
the daily tells me the big picture, then I look at 8, 4, 2, 1 hr and 30, 15, 10, 5 min.
ideally the daily looks like it should turn and the rest of them already have and all show the same movement. or at least the 4 hr and down show a turn.
the trades usually do not last more than 12 hrs and 20 - 40 pips.

I am still a total noob, and only demoing, but I am going to continue with the method and see if I can make it win consistently.

Think i need to get the hang of fibs or pivots or something though ?
  • #6
  • Last Post: Apr 22, 2010 9:22am Apr 22, 2010 9:22am
Quoting AusFXMatt

I was wondering what type of stategy are you using to trade on the monthlys and dailys. Im hoping to trade this way as soon as I can. Less stress, effort and time ; as you probably know.
I mostly do the chart analysis with the chart patterns, support and resistance levels and Fibonacci retracements. No technical indicators are usually used.
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