1. What is the best time frame to daily trade the EuroDollar on the MT5? 2. German open or London open to start with EuroDollar? 3. Why is the NY session almost always more orderly for the EuroDollar? - page 2
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1) There is not a better timeframe in absolute, it depends on your strategy. But if you want do scalping use 1M or 5M timeframe.
For your question 2 or 3 I don't have any roboust evidences to share.
Regards
1) There is not a better timeframe in absolute, it depends on your strategy. But if you want do scalping use 1M or 5M timeframe.
For your question 2 or 3 I don't have any roboust evidences to share.
Regards
Thank you for your reply.
The M1 is for scalping only. Absolutely nothing else. I don´t scalp, so I never set up the M1.
I am of the opinion that there is an absolutely best time frame for EuroDollar intra-day trading. I agree it depends on the indicator/s making up your trading plan. I aim to trade the/all intra-day cycle/s. I am not 100% sure yet, but the M10 is certainly a candidate for that title. It has been 100% correct for the last few days, intra- and inter-day. It is amazing. I don´t trade inter-day. I simply noticed it has been absolutely correct even inter-day for the last few days.
I think it is essential to have the Holy Grail approach in our quest for a trading plan that will produce continuous daily profits.
Thank you for your reply.
The M1 is for scalping only. Absolutely nothing else. I don´t scalp, so I never set up the M1.
I am of the opinion that there is an absolutely best time frame for EuroDollar intra-day trading. I agree it depends on the indicator/s making up your trading plan. I aim to trade the/all intra-day cycle/s. I am not 100% sure yet, but the M10 is certainly a candidate for that title. It has been 100% correct for the last few days, intra- and inter-day. It is amazing.
I think it is essential to have the Holy Grail approach in our quest for a trading plan producing continuous daily profits.
Yes, M2 is interesting timeframe - I just checked and everything is going smoother, example - this is Brainwashing system from here:
I think - M10 may be interesting too ... it may be because not so many traders are using those timeframes and that is why the data/quotes are more reliable (the brokers less care about those timeframes for example) ...
Yes, M2 is interesting timeframe - I just checked and everything is going smoother, example - this is Brainwashing system from here:
I think - M10 may be interesting too ... it may be because not so many traders are using those timeframes and that is why the data/quotes are more reliable (the brokers less care about those timeframes for example) ...
The M2, obviously, produces more false signals. It is, in fact, also quite a short time frame. It is good to use it to get in quickly once you are sure the trend has Reversed. However, you can make a lot more when you then move on to longer time frames once you realize it is a Long Move - still in the current trading day. M2 can be excellent for a "managable" volatile period.
The longer time frames, by the nature of how they are constructed, eliminate the false moves of the shorter time frames. There are fewer (possibly wrong) decisions to make.
The M10 seems to eliminate (all ??) the false signals (on the shorter time frames) for intra-day EuroDollar trading.
It all boils down to speed of entry and exit versus the highest attainable level of signal validity - to produce a good profit every day.
It is really a great pity the MT5 does not provide the M7, M8 and M9 time frames. It seems to me one of them could actually be the best time frame for trading the EuroDollar intra-day.
Because lower timeframes must be a even fraction of the H1/D1
1. What is the best time frame to daily trade the EuroDollar on the MT5? - to trade the EuroDollar from the German open to the New York close.
2. Is it worth starting to trade the EuroDollar with the German open or is the the London open always the better option trading the EuroDollar?
3. Why is the NY session almost always better to trade the EuroDollar in terms of technical analysis than the European session? EuroDollar signals seem to be much clearer during the NY session and ordered than in the London session.
What could the explanation for that be? Is it because most traders agree on the EuroDollar trend by then?
Hi,
for me I use 6 time frames (1M, 5M, 15M, 30M, 1H, 4H) together and I trade any session but the best time to trade for me is between 07:00 - 18:00 (ECN MT4/5 server time), big and fast moves.
Regards