Trading Time Frames - page 2
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From my years of trading the forex, this is one thing I have noticed about timeframes and forex traders. I have come to discover that one possible factor contributing to losses of new traders is that they end up trading the wrong time frame which doesn't agree with their personality in the first place. Now the new forex traders will have the intentions to get rich in no time, so they’ll prefer trading small time frames which include the 1-minute or 5-minute charts. At the end of it, what happens is that, they get frustrated at the end of their trade because the time frame will not agree with their trading profile. For some forex traders, they feel the most suitable timeframe for them is trading the 1-hour charts
The position trader should be looking at weekly or even monthly timeframes as they need more analysis while the scalper or day trader should be looking at say 1 hour charts even 5 minutes as they need less analysis, always make sure the timeframe Let me quickly add here that one thing to look out for in higher timeframes is interests rates.