Who is having the last laugh in the end? | Forex Factory

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Who is having the last laugh in the end?

  • #1
  • First Post: Dec 12, 2010 11:07am Dec 12, 2010 11:07am
I read so much about how traders who trade from 1H Charts upwards laugh at the ones who trade the 1M or 5M chart.... on the other hand I read about the 1M chart trades who swear about how they can slowly make their pips trading countless times a day and... laughing at the ones who trade way higher time frames wondering why on earth would you babysit and hold a trade for that long..

Who is having the last laugh at the end..?!

Thoughts please.
  • #2
  • Dec 12, 2010 12:23pm Dec 12, 2010 12:23pm
those who are laughing all the way to the bank
Invincibility lies in the defence, the possibility of victory in the attack
  • #3
  • Dec 12, 2010 12:32pm Dec 12, 2010 12:32pm
Why must 1'TF traders make a lot of fast trades? This cliche has got to go.

Maybe those laughing know how long each run is.
  • #4
  • Dec 12, 2010 3:09pm Dec 12, 2010 3:09pm
Got to agree with ha-pattern. I consider myself mostly a scalper with a target of 30pips/per day. My entries&exits are based on M1, but my signals come from M15 (sometimes from H1 or H4) and I enter when I get confirmation by M5. So, even though my trades will last only a few minutes (max 30min), I have to be patient to get my signals. All I need is to get in&out the market 3-4 times daily with 8-10pips and I am done (I do use relatively big lot size which I increase as my account grows). But in this way I am less exposed to sudden market fakes and/or risk. On the other hand, I give credit to long-term traders having the patience to have a trade open for such a long time.

Overall, is still a matter of choice and of the trader's attributes. Some people have the personality to be good at longer TFs and some others are better at faster TFs. You got to find your niche, what fits you better, get good at it and then YOU will have the last laugh.
  • #5
  • Dec 12, 2010 5:14pm Dec 12, 2010 5:14pm
Quoting Arona
Who is having the last laugh at the end..?!

Thoughts please.
odds are in the end the last thing any of us will do is laugh....... up until that day odds are both sides will laugh and cry equally.....

//---
//---

in my favorite movie, hero, nameless asked broken sword for the 20th variation of the word 'sword'..... later the king of qin translates the 20th variation to mean the ultimate ideal of swordmanship...... not wanting to spoil the movie, will stop there.....

if the king was accurate in his translation, and my life seems to suggest he was, perhaps the 20th variation of 'trader' would be similar...... true peace with no laugh....

trading is similar to war..... take care, the arrows are flying........

//---

kostas is correct, we find what suits us and perfect it to the best of our abilities......h
to trade and code, keep both simple... no call to impress....h
  • #6
  • Dec 12, 2010 5:22pm Dec 12, 2010 5:22pm
This is a tough call. I'm not going to tear down anyone's strategy. I believe forex is a personal experience. Ultimately, we must trade to fit our personalities.

If a person has the patience to hold on to a position that's fine. If one likes to scalp, that's their business. I believe you can be successful either way. You just have to trade with discipline and apply your strategy correctly no matter what time frame your in...
{Promotion Removed}
  • #7
  • Dec 12, 2010 6:25pm Dec 12, 2010 6:25pm
Quoting Arona
I read so much about how traders who trade from 1H Charts upwards laugh at the ones who trade the 1M or 5M chart.... on the other hand I read about the 1M chart trades who swear about how they can slowly make their pips trading countless times a day and... laughing at the ones who trade way higher time frames wondering why on earth would you babysit and hold a trade for that long..

Who is having the last laugh at the end..?!

Thoughts please.
If you can't do it ... don't knock it.

Although I trade the 1 minute, 5 minute, 15 minute, 30 minute, daily and weekly, my bread and butter is trading the lower time frames. So just because you can't do it ... don't knock it. I can't bench press 600+ pounds either, but I'm sure somewhere someone can do it. Never under estimate your fellow trader/man/competitor/etc...
  • #8
  • Dec 12, 2010 7:07pm Dec 12, 2010 7:07pm
Quoting Arona
I read so much about how traders who trade from 1H Charts upwards laugh at the ones who trade the 1M or 5M chart.... on the other hand I read about the 1M chart trades who swear about how they can slowly make their pips trading countless times a day and... laughing at the ones who trade way higher time frames wondering why on earth would you babysit and hold a trade for that long..

Who is having the last laugh at the end..?!

Thoughts please.
I know wealthy trades from both sides. Some are solely in equities and make a few hundred trades a day (not just adding liquidity) and do quite well. The others generally stick to the hourly+ TF's for weekly+ holds (futures mostly) and do well. There is no 'right and wrong' side to this question, unless you specifically identify your own criteria. As a note, the traders I mention all spend many hours in front of the screens. I would have thought those who hold longer would have less stress, better health, etc, but time not staring at the intraday charts is sacrificed for more symbols, more fundy-info to comprehend, etc.
I think you are looking for an answer of 'what timeframe is best for me' when there is no right answer. You need to find an edge, a schedule, and determine which opportunity best suits you. There are lots of ways to make (and lose) money in these markets.
  • #9
  • Dec 12, 2010 8:20pm Dec 12, 2010 8:20pm
Good topic. I believe that a high percentage of folks who start trading FX will start trading in the lower timeframes; especially if they have any experience trading the stock market. A lot of people who trade equities are probably more comfortable trading in the lower TFs. I believe that there is a lot of knowledge that you can aquire when trading in the lower TFs, but there are a lot of pitfalls.....especially for newer traders.
  • #10
  • Dec 12, 2010 9:01pm Dec 12, 2010 9:01pm
Quoting Arona
you babysit and hold a trade for that long..
.
I feel like this is an oxymoron. In my experience, trading 4hr charts, there is absolutely no babysitting involved... at all. I place a trade, come back every 8, 12, hours, maybe even a couple days later, and that is that. Of course, it is all how one uses said timeframe, but, the whole point for most using higher timeframes is so they don't have to babysit.

Either way, what works... works. If someone wants to set up a 23min 17sec chart to trade off of, do it. It doesn't matter, well, for me it wouldn't.

Quoting Troikaone1
Good topic. I believe that a high percentage of folks who start trading FX will start trading in the lower timeframes.
Just stopping you there, so I can say I agree. I believe this is natural for anyone getting involved in something that isn't necessarily "personal" in nature. Though, even then, I've seen it advised. Many dating advisors tell you to ask meaningful, "deep", questions during the first one or two dates, that way you don't waste time with people who really aren't long term partners. If you get the whole politics, family, religion, etc. topics out of the way early, you don't need to mess around with the bombshell disaster that will destroy things due to incompatibility later on. When diving into FX, people want to know without wasting lots of time whether this thing is "real", and whether it can work. In that sense, find an approach, get a lot of action early, and see what unfolds. I did just that, I'd assume others do so. After time, if the intial exploration phase doesn't work, people either adjust, or, quit.
The market is my nation. Traders, my family. Hello, brothers and sisters!
  • #11
  • Dec 12, 2010 10:20pm Dec 12, 2010 10:20pm
it really depends on the traders personality,some are better at 1m and some at higher timeframes,it doesnt really matter what tf u trade as long as profits run onn ur side
  • #12
  • Dec 13, 2010 1:45am Dec 13, 2010 1:45am
Most of the traders no matter which time-frame they trade will end up crying. I don't think it depends on the time-frame, but on the robustness of your system.

Best extreme examples: warren buffett - long term investor vs. some investment banks which take 1000's of trades a minute.
So, in the end who will have the last laugh? Those 5% of traders that have a robust method, which 95% of people do not have.
  • #13
  • Dec 13, 2010 5:13am Dec 13, 2010 5:13am
Quoting Arona
Who is having the last laugh at the end..?!

Thoughts please.
Don't assume they are direct opponents.
  • #14
  • Last Post: Dec 13, 2010 5:49am Dec 13, 2010 5:49am
Quoting dragan53
it really depends on the traders personality,some are better at 1m and some at higher timeframes,it doesnt really matter what tf u trade as long as profits run onn ur side
do you really believe this? i'll admit i am a donkeys ass, but i personally believe this is completely wrong. until you can tell the difference between one timeframe chart and another then they are all the same, and so those that are supposedly profitable on higher tf's are surely only running a slower luck streak than those who would have finished this cycle on a lower tf. they are simply playing a losing game distribution at a slower pace... and hence get to feel superior playing their 'winning' strat (which is eventually going to fail).

i think discussing timeframes is interesting, as i believe those who can trade for profit will do so on any timeframe. and as a side note, may actually do so on different timeframes on purpose... because they can. as opposed to those who can't trade for profit but think it's just that they are (omfg i hate this term) 'trading noise' so move to their supposedly profitable higher timeframe.
Congratulations ScalaFX for coming out of the closet!
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