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Attachments: What chart do you use? (M1, M5, M15) Does it make a difference?
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What chart do you use? (M1, M5, M15) Does it make a difference?

Time based charts are an option. There is no best one to trade as they all tell you the same information, some are just on a different granularity. The question of which to use depends on what kind of set-ups and R/R you are using - and where the opportunity exists. Whichever chart is showing you a "flat horizontal line" will be looking for a breakout. Which ever chart shows you a big move up/down will be looking to correct or to consolidate and breakout again.

Some traders trade off of a DOM only, and simply use the tape. Some use time based charts - while others will use price based charts like P/F, range or renko.
Quoting pgburty
Hello,,, I am starting trading live next week, I intend to use 2 Eur/Usd charts, and probably 2 Usd/Jpy charts, one on 5 min and the other on 15 min,,, with the option to sneak a glance at 1 min and longer times to confirm trend direction. I will use a chart similar to the one attached. This has the Bill Williams Awesome overlaid by the MBFX Timing Indicator, which gives advance notice of direction change. And the Awesome helps you to stay in a trade when it progresses below or above the zero line. On the Chart I have 3 Ema's, 23, 38 and 62, and...
Haha! Looks awesome!
But i don't really understand. Cause it is too advanced for rookie like me.
Mind explaining it more?
Have you got the MT4 chart ?
I use M1 for entries as I like to watch the candles form.
I use a system with colour coding that tells me when a trend is changing in advance and confirms it on the chart. And allows me to stay in the Trade longer due to the Awesome oscillator ...
Attached Image (click to enlarge)
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Believe it or not guys but monthly is the only time frame which all retail traders should follow, that's the only time frame which syncs with real world scenarios and gives the real picture of market conditions.

use it for scalping, swing trading, or long term all is possible and good with monthly time frame.
Attached Image (click to enlarge)
Click to Enlarge Name: what-time-frame-chart-trading.jpg Size: 149 KB
Never chase the market
Don't agree.
You can trade / scalp profitably without even looking at the monthly timeframe.
It really depends on your style of trading. Shorter time frames mean shorter trades and scalps. Longer time frames mean sleeping through the night in a trade. Longer time frames can be trusted more than shorter ones because there's less noise in them. That being said, either can be traded it just depends on the style of the trader.
I trade on the daily chart, but I use the 30 mins, hourly, and 4 hourly charts to try to predict what would happen on the daily chart. Then I use the weekly and the monthly charts to check where the trend is heading.
Scalping off the monthly? Really?

It has to suit your personality as well!
I use M15, M5, M1.
Quoting cakrajaya
{quote} trading is about time. so it is very crucial. best for you
Yeah, that's a given - the timing is crucial and each trader has his or her own perf..
I usually trade the 1H and 4H chart.
FXlobster
Well I actually use multiple timeframes. I first look at the big picture like H4 or Daily and study trends and channels and after that I dig deeper looking at the 15M to 1H charts and studying patterns and applying sth like Fibo. It's always a good think to see the big picture first before making use of the shoter timeframes.
Quoting ElComandante
Well I actually use multiple timeframes. I first look at the big picture like H4 or Daily and study trends and channels and after that I dig deeper looking at the 15M to 1H charts and studying patterns and applying sth like Fibo. It's always a good think to see the big picture first before making use of the shoter timeframes.
Yup, makes perfect sense..
4 Hour and above! Why the hell would you lot WANT to sit glued to charts all day!
I fib at the weekend, reset my pivots, set price alerts on my phone and go fishing!
Must admit, I knock it down to 30 minute charts to look for confirmation before entering a trade but ..
screw that!.. one minute charts X_X You all mental??
I read about traders who use 2Day or 2hours and 3hours charts which I couldn't find on my trading platform though.
Does anyone of you have experience with that? Why is the 4H chart so popular and a 2H is not?

Rex
I usually use H1 or M30 charts. Could you tell me, wht is the best chart for a scalping anf for an intraday strategy?
Quoting RexTexas
I read about traders who use 2Day or 2hours and 3hours charts which I couldn't find on my trading platform though. Does anyone of you have experience with that? Why is the 4H chart so popular and a 2H is not? Rex
http://www.dailyfx.com/forex/educati...ur_Trader.html
Yes, it does make a difference. I prefer trading Daily charts. When I find a good high probability setup I switch to a lower TF like 1Hour or 15Min to fine tune the entry and get a tighter SL. By trading the Daily charts I don't have to sit at my PC the entire time, it's a lot less stressful and in my opinion more profitable.
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