Time frame

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Hi, I'm a beginner in forex. I have been daytrading USD/JPY and GBP/USD on MT$ demo account for a week using mainly chart H4, but the profit has been unstable. Which is the best combination of time frames to trade a pair? And how many indicators should I apply to these time frames.

 

I, personally, use the four-hour time frame and the daily time frame the most, but mind you, there are good strategies for most time frames. As for how many indicators you should attach, that depends on the person, but one should always keep in mind that the more indicators you use, the more conflicting information you might receive. I don't use more than 2-3 indicators on any given chart.

 
dianajs:
I, personally, use the four-hour time frame and the daily time frame the most, but mind you, there are good strategies for most time frames. As for how many indicators you should attach, that depends on the person, but one should always keep in mind that the more indicators you use, the more conflicting information you might receive. I don't use more than 2-3 indicators on any given chart.

I am using the M15 and the H1 time frames and i do not prefer to use any Indicators at all. This is because i prefer to do my trades based on the charts and this has given me a good trading setup which i am using in my trades

 
jess_59:

Hi, I'm a beginner in forex. I have been daytrading USD/JPY and GBP/USD on MT$ demo account for a week using mainly chart H4, but the profit has been unstable. Which is the best combination of time frames to trade a pair? And how many indicators should I apply to these time frames.

I am currently using the 3 duck system. There are 3 charts involved in this system: a 4hr chart, a 1hr chart and a 5min chart. There is 1 indicator, a 60 period simple moving average (60 sma) plotted on each chart. It's very simple and straight forward. Maybe you should check that out.
 
sassybob:
I am currently using the 3 duck system. There are 3 charts involved in this system: a 4hr chart, a 1hr chart and a 5min chart. There is 1 indicator, a 60 period simple moving average (60 sma) plotted on each chart. It's very simple and straight forward. Maybe you should check that out.
Which is the chart that you decide upon?
 
whisperer:
Which is the chart that you decide upon?
Uhm I don't understand your question. If you get the same trend from all 3 chart (M5, H1, H4), for example the bear shown by price stays below the sma, then sell. The 3 duck is a steady-straight forward system/guide that has made more than it has lost overall for me. My advice to you would be to forward test it on a demo and make it your own.
 
BruceMendes:

I am using the M15 and the H1 time frames and i do not prefer to use any Indicators at all. This is because i prefer to do my trades based on the charts and this has given me a good trading setup which i am using in my trades

In my experience the 15-minute chart gives pretty reliable short-term signals, but the 1-hour one isn't as reliable, although it should be.
 
sassybob:
Uhm I don't understand your question. If you get the same trend from all 3 chart (M5, H1, H4), for example the bear shown by price stays below the sma, then sell. The 3 duck is a steady-straight forward system/guide that has made more than it has lost overall for me. My advice to you would be to forward test it on a demo and make it your own.
I haven't heard of this strategy before, but it definitely sounds interesting to me. What is your loss/profit ratio?
 
Every professional trader should master all trading timeframes, regardless of your trading style, one must be able to analyze the markets and take advantage of different time frames, they each serve a different task.
 

Choosing the appropriate time frames strongly depends on your personal trading style, trading strategy, the targets which you aim for and also on your risk tolerance. Everyone should select first the best timeframe which fits his own preferences and focus on it.

Personally I prefer using 5-minute, 30-minute, and 4-hour charts. My advise is to use at least two, but not more than three time frames because adding more could confuse you and the same applies to the indicators.
 
Once get experienced enough you will be able to use and understand all timeframes easily, just with one quick eye on them :) All traders are giving nice suggestions, but I think you should try and find the time frame that suits you better. For the indicators is the same – find the ones that provide you with most helpful information and use only them.
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