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Preferred Timeframe for Trading

  • #141
  • Oct 1, 2014 10:18am Oct 1, 2014 10:18am
Quoting Adal
{quote} Ha ha, this is golden. Let's see. Most traders are losers, and most traders use H4. Yeah, let's all use H4.

All I can say is I agree with you... If your strategy's success or failure is tied to a time frame then it is not a strategy.... One exercise I implore traders to do, and use the term very loosely, is to observe the intrinsic weighted relationship between the time frames then cross correlate that with the average movement for that time frame. Just pick one pair and you will realize how limited your current indicators and metrics are.

1440 100.00%

240 16.67%

60 4.17%

30 2.08%

15 1.04%

5 0.35%

1 0.07%


Always willing to help serious traders learn how to turn a consistent profit...

  • #142
  • Oct 1, 2014 8:30pm Oct 1, 2014 8:30pm
Quoting RichTrader3
This seems to be a very very silly question , but I cannot seem to find an online pip calculator. There are many to calculate the pip value,but not the number of pips. Please provide any online link/indicator to calculate the number of pips. Eg Consider the UDSCAD trade Short @ 1.11976 Exit @ 1.11857. What is the number of pips gained ? Any online calculator for this?
Is this a troll question, because it seems silly and pretty offtopic but i shall answer it.

Try Exit - Enty , pretty sophisticated huh?

1.11857-1.11976 = -0.00119

Divide by tick size that is 0.00001 for 5 digit brokers = -119 pipettes or -11.9 pips.
"There's a sucker born every minute" - P.T. Barnum
  • #143
  • Oct 1, 2014 8:32pm Oct 1, 2014 8:32pm
Quoting DXanatos
{quote} All I can say is I agree with you... If your strategy's success or failure is tied to a time frame then it is not a strategy.... One exercise I implore traders to do, and use the term very loosely, is to observe the intrinsic weighted relationship between the time frames then cross correlate that with the average movement for that time frame. Just pick one pair and you will realize how limited your current indicators and metrics are. 1440 100.00% 240 16.67% 60 4.17% 30 2.08% 15 1.04% 5 0.35% 1 0.07% Always willing to help serious traders...
What are those percentages associated with the TF, i dont understand, please explain.

Quoting Adal
{quote} Yes, it's a good idea to record ticks as you received them and backtest on them. Because brokers filter spikes from historical ticks, thus if you use them for backtesting you will test on a really clean feed, but then when you deploy to production you might realize that your algo is not robust enough to handle bad price quotes. Here are my live tick recorders working. They record all the ticks I receive on all the instruments from FXCM, MB Trading, TrueFX (Integral ECN), Dukascopy and Oanda: {image}
My historical data doesnt have bad spikes, that only happens when its recorded from live account data, if you do it from demo account then it is already filtered.
"There's a sucker born every minute" - P.T. Barnum
  • #144
  • Oct 1, 2014 9:37pm Oct 1, 2014 9:37pm
Quoting Relativity
{quote} Lol goodness you still do not get it? I do not just look at the end result when using repainting indicators. I look at every possible result, including repainting. The idea... is to inverse the result. And I am sure you will find that the repainting helps to track the true direction and momentum, so long you do not take every single repaint as a signal to reverse trade. Anything beyond here, yes. Its off topic. I've used ZZ for years and figured that this is the best possible way to read them. The only nice thing I can say is this; your...
I understand now, so you are looking at the repainting too, and for reversals.I dont know how you do that, but it still seems too subjective and unreliable to me, i`m more a mechanical type of trader with precise entry/exit and robust reliable indicators.But if that is good for you then its ok.

No need to leave, i welcome all arguments and critics, because thats how you learn, by arguing with people, that is the whole point of this forum , so that people can argue with eachother and learn from eachother
"There's a sucker born every minute" - P.T. Barnum
  • #145
  • Oct 2, 2014 5:39am Oct 2, 2014 5:39am
Proxime,

I was giving it a thought and I concluded that the true value of your threads lies in your prodigious ability to annoy just the correct group of people - the smart pro traders. The clues they provide in this emotional state (and likely would not have done without it) and which are scattered throughout your threads are to the genuine benefit of the wider Forex community, particularly for newbies.

I am taking the leap of subscribing to you, Sir.


Cheers,
k
  • #146
  • Oct 2, 2014 6:52am Oct 2, 2014 6:52am
Quoting kprsa
Proxime, I was giving it a thought and I concluded that the true value of your threads lies in your prodigious ability to annoy just the correct group of people - the smart pro traders. The clues they provide in this emotional state (and likely would not have done without it) and which are scattered throughout your threads are to the genuine benefit of the wider Forex community, particularly for newbies. I am taking the leap of subscribing to you, Sir. Cheers, k
Thanks, but i`m really not here to annoy anybody, i am just doing my researches and sharing my opinions.
"There's a sucker born every minute" - P.T. Barnum
  • #147
  • Oct 8, 2014 8:29pm Oct 8, 2014 8:29pm
Quoting Proximus
Thanks, but i`m really not here to annoy anybody, i am just doing my researches and sharing my opinions.
Keep it up Proximus! I like your work a lot. This thread has gained you much more credibility and respect in my eyes.

Keep trying to prove that 4H time frame is best, and I will support you in your efforts.
Please check out my blog at https://from-zero-to-hero . net
  • #148
  • Oct 10, 2014 3:15pm Oct 10, 2014 3:15pm
Quoting smash1820
{quote} Keep it up Proximus! I like your work a lot. This thread has gained you much more credibility and respect in my eyes. Keep trying to prove that 4H time frame is best, and I will support you in your efforts.
Thanks but I`m not proving anything here, the results speak for themselves.I`m just looking at the results.
"There's a sucker born every minute" - P.T. Barnum
  • #149
  • Oct 11, 2014 4:04pm Oct 11, 2014 4:04pm
Quoting Proximus
{quote} I understand now, so you are looking at the repainting too, and for reversals.I dont know how you do that, but it still seems too subjective and unreliable to me, i`m more a mechanical type of trader with precise entry/exit and robust reliable indicators.But if that is good for you then its ok. No need to leave, i welcome all arguments and critics, because thats how you learn, by arguing with people, that is the whole point of this forum , so that people can argue with eachother and learn from eachother
I don't like to argue as this isn't my style... its not nice IMO. But I acknowledge the attempt to achieve understanding. I only wish such attempts can be done in a more... easier manner and relaxed approach.
http://www.forexfactory.com/showthre...64#post7794964
  • #150
  • Oct 12, 2014 6:26am Oct 12, 2014 6:26am
DavidXanatos is very right.

Let's say you look on H4.
Two differents pairs will not move the same ( meaning volatility ) on H4.

Depending on your strategy, in my opinion you should not focus and look at the same time frame for all pairs.

Simply because all pairs are differents and have differents behaviour. Some have more noise...

Regards.
  • #151
  • Oct 12, 2014 8:47am Oct 12, 2014 8:47am
No matter which trading method you chose you cannot overlook the HIGHER TIME FRAMES.it gives you the edge you require and help you trade with the trend . and if counter trend trading it helps you know where the trend might resume


TRADE HIGHER TIME FRAMES
  • #152
  • Oct 13, 2014 12:22pm Oct 13, 2014 12:22pm
Higher timeframes are derived from lower ones, but its all a question of filtering.Which TF filters out the most noise, while generating the least lagg. The H4 seems to be a good balance for this.
"There's a sucker born every minute" - P.T. Barnum
  • #153
  • Oct 13, 2014 12:40pm Oct 13, 2014 12:40pm
I trade off a 2 hour timeframe that is zoomed out so can't see details of candles and have daily and weekly charts up as well. If price reaches an area I find important on the daily/weekly then I look to see how it is reacting on the 2 hour. Simple.
Used to be an intraday trader but have stopped all that. Am sure some are profitable, and I was as well, but it's a lot of work, a lot of trades, and the losers make you doubt yourself/your edge. And as we know, trading is a mental game...

Longer term charts=longer term levels which equates to stronger levels.
  • #154
  • Oct 13, 2014 1:31pm Oct 13, 2014 1:31pm
I hear you Eric,

But think about it.

Do you really think you can have the same odds on GBPJPY and let's say USDCAD on both H4 ?

That is a mistake for many reasons... ( Spread, average range and so on... )

Simply because you don't work in the same SpaceTime.

That is why beginner should look for " low" SpaceTime. ( Relationship between Time and Price )

Regards.
  • #155
  • Oct 15, 2014 9:25pm Oct 15, 2014 9:25pm
Well you can always set your indicators according to timeframe, 80 PERIOD MA on M30 is 40 PERIOD MA on H1 and 10 period MA on H4, etc.

You can always scale the indicators, while trading on your favorite TF. So in this sense TF is not important, but if you trade naked charts, then its different.
"There's a sucker born every minute" - P.T. Barnum
  • #156
  • Oct 17, 2014 2:11pm Oct 17, 2014 2:11pm
Quoting kprsa
{quote} Hi there, Just to say, it is possible to use even standard fractals. Try calculating the probability that the fractal on H1 formed two hours ago and not taken out (so confirmed not to repaint) will be taken out within the following 12 hours. If you do this, you'll see that this probability is only cca 30%. It's not a fantastic edge, but it can be used as a beginning of a non-ambitious little strategy. Cheers, k
My statement is incorrect, and I apologize for the error. The probability is about 60% in this case. The 50% limit occurs about 8 hours after the fractal is confirmed not to repaint. The 30% number is valid approximately 4 hours after the fractal is confirmed not to repaint.

k
  • #157
  • Oct 17, 2014 9:02pm Oct 17, 2014 9:02pm
Quoting kprsa
{quote} My statement is incorrect, and I apologize for the error. The probability is about 60% in this case. The 50% limit occurs about 8 hours after the fractal is confirmed not to repaint. The 30% number is valid approximately 4 hours after the fractal is confirmed not to repaint. k
Ok forget about the probability, what is the expectancy,winrate and DD if you trade by this method? Because doesnt matter what the indicator's probability numbers are if the spread and market lag is not considered. You have to do a backtest of it.
"There's a sucker born every minute" - P.T. Barnum
  • #158
  • Oct 17, 2014 11:27pm Oct 17, 2014 11:27pm
Quoting Proximus
{quote} Ok forget about the probability, what is the expectancy,winrate and DD if you trade by this method? Because doesnt matter what the indicator's probability numbers are if the spread and market lag is not considered. You have to do a backtest of it.
Hi, it is not a "method", it is a property that can be taken into account when developing a method. This can tell you, for example, about the odds of hitting the SL (the idea is to trade away from the fractal, and place the SL on the fractal.)
Typically you would want to filter the entries somehow, for example by using an additional indicator to confirm the price drift. Or use higher tf trend and trade fractals agreeing with the trend. Dependent on that, one could backtest and obtain the practically useful quantities you mention.
Since the probability of hitting the SL still remains smaller than 50% for 8 hours you need something to give you better than 1:1 R:R over this period.
k
  • #159
  • Oct 18, 2014 7:55am Oct 18, 2014 7:55am
i choose 30 min, 1 hr and 4 hr, but i mainly trade on 30 min and 1hr TF.
1hr for trading and guide and 30 min to look for PA or better entries.

i did not choose low TF (5min) because they move so slow ( in pips) and a lot of noise there.
1hr and 30 min give me more time to analyst the market, and in this TF, the candle move more then 5 pips, it give more information for me to study.
  • #160
  • Oct 18, 2014 3:46pm Oct 18, 2014 3:46pm
i can see there are so many fan of 1 hr charts here. i would like to tell you that you are wasting your time and money trading those time frames. you expose your account to tooooooooooooo many trades thus increasing your chances of making losses in the long run.trade using daily charts going up sand increase your chances of making money in the long run
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