How often do you check the charts? | Forex Factory

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How often do you check the charts?

  • #1
  • First Post: Jul 3, 2013 11:05am Jul 3, 2013 11:05am
Hi!
Im relatively new here, have been reading the forum for some time though.

Im a bit curious about how often you check the charts when trading higher timeframes as H4, H8 or daily.
And how long after a candle/bar close does it usually take for you to enter a trade?
Do you usually watch the opening of a new candle on your timeframe?

//David
  • #2
  • Jul 4, 2013 2:52pm Jul 4, 2013 2:52pm
The reason why I wonder is that im currently trading demo account and cant really get my self to follow the chart on a regular basis.
I have a feeling that it would be good to have some kind of schedule or fixed times that is set for trading and following charts?

Im focusing on 4H and daily charts so for me, it feels natural to check the charts every 4 hours, when a new candle opens!

So therefore im wondering how you guys do?
Sorry if my questions are very strange.
  • #3
  • Jul 4, 2013 3:06pm Jul 4, 2013 3:06pm
Hey mate,

try using tick charts,
tradeinterceptor.com has a demo one, I use it alongside

I don't know any other way too see tick charts, not from MT4 I guess..

But you see all the action, and it is not time based.

Very nice for your entry / exit points, and for determining daily range for a pair.

100 Tick USD/JPY for example.

This way I look at my charts less, and when I look I also draw trend lines to determine the trend/ counter trend...
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  • #4
  • Jul 4, 2013 3:08pm Jul 4, 2013 3:08pm
Other than that I determine the main trend in Daily charts,
on 1H I try to study the price action. daily highs, lows, pivots etc.

I enter the trades using Tick charts and 15min charts
  • #5
  • Jul 4, 2013 3:45pm Jul 4, 2013 3:45pm
I used to watch charts hourly,but now I receive email alerts whenever a setup occurs from my EA.I review the charts then decide whether to enter or not.I actually feel guilty how easy its becoming.Even for discretionary methods you should automate most of your rules.Staring at the charts continously is stupefying you end up seeing signals that aren't there.
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  • #6
  • Jul 4, 2013 7:55pm Jul 4, 2013 7:55pm
It is the necessary part for me to wsee charts , candle stick and 1 to 2 indicators. before start trading. We can not get trend if not watch charts. Time of chart depends on trading style . I usually use 30 min and 4 hours charts. They tell me clear situation of market.
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  • #7
  • Jul 5, 2013 3:20pm Jul 5, 2013 3:20pm
Quoting spufuz
Hi! Im relatively new here, have been reading the forum for some time though. Im a bit curious about how often you check the charts when trading higher timeframes as H4, H8 or daily. And how long after a candle/bar close does it usually take for you to enter a trade? Do you usually watch the opening of a new candle on your timeframe? //David
Scalping will always need your full attention, especially when scalping 10 pairs at the same time.. like I used to.. mindfuck. However, if you are more patient and swing trade then you can look at the charts during the crucial times of day like I do these days. Pre-London - 8 AM, pre-NY - 1.30 PM, news galore - 3 PM and NY close and London roll to pick up some levels for the next days trading. When you get used to what levels are worth trading you can do all your swing trading plans in a few hours on a sunday and place limits or sound alerts.

A lot of people complain how difficult trading is, ignore it, just stick with the dumb stupid obvious stuff which usually comes much easier with swing trading. Being a market swinger allows you to be more diverse and not be glued to the screen all the time.. after all, you still want a life.
  • #8
  • Jul 6, 2013 3:16am Jul 6, 2013 3:16am
Quoting Tyoon
{quote} Scalping will always need your full attention, especially when scalping 10 pairs at the same time.. like I used to.. mindfuck. However, if you are more patient and swing trade then you can look at the charts during the crucial times of day like I do these days. Pre-London - 8 AM, pre-NY - 1.30 PM, news galore - 3 PM and NY close and London roll to pick up some levels for the next days trading. When you get used to what levels are worth trading you can do all your swing trading plans in a few hours on a sunday and place limits or sound alerts....
The problem for me, is that i dont really have the time to spend several hours a day. Maybe some more on the weekends to analyze the charts to get some sort of a lookout for the coming week.
So scalping is really not that relevant to me.
  • #9
  • Jul 6, 2013 3:20am Jul 6, 2013 3:20am
Quoting pemully
I used to watch charts hourly,but now I receive email alerts whenever a setup occurs from my EA.I review the charts then decide whether to enter or not.I actually feel guilty how easy its becoming.Even for discretionary methods you should automate most of your rules.Staring at the charts continously is stupefying you end up seeing signals that aren't there.
I believe what you say must be very important. To be able to distinguish false signals from the real ones.
Automated or not, I must learn to find setups that works for me.
Thanks for the tip about that, could you recommend some EA that you like?
  • #10
  • Jul 6, 2013 3:24am Jul 6, 2013 3:24am
Quoting openyoureyes
Hey mate, try using tick charts, tradeinterceptor.com has a demo one, I use it alongside I don't know any other way too see tick charts, not from MT4 I guess.. But you see all the action, and it is not time based. Very nice for your entry / exit points, and for determining daily range for a pair. 100 Tick USD/JPY for example. This way I look at my charts less, and when I look I also draw trend lines to determine the trend/ counter trend... {image}
Great tip about the tick-charts. Have not seen those in MT4, but read about tick-charts long ago but forgot about them.
One thing you mention, determining the trend/direction on the higher TF and doing your entries from tick charts and lower TF is something I have to look more into.
  • #11
  • Aug 25, 2014 2:31am Aug 25, 2014 2:31am
Quoting spufuz
Hi! Im relatively new here, have been reading the forum for some time though. Im a bit curious about how often you check the charts when trading higher timeframes as H4, H8 or daily. And how long after a candle/bar close does it usually take for you to enter a trade? Do you usually watch the opening of a new candle on your timeframe? //David
I trade H4 you could say and i watch the charts ALL THE TIME. At least until i can calculate that there is a 10 minute window where i dont need to look at it. Sometimes i watch an episode of southpark, i write something or something like that, but still i dont have that window on all my screen, so that i can still see what is currently going on with price.
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  • #12
  • Last Post: Aug 25, 2014 7:15am Aug 25, 2014 7:15am
I always trade with the 1H charts and above to have the opportunity to see what happens every 15 and 30 minutes.
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