Q & A

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GrumpyDuckMan
698
GrumpyDuckMan  

Hello everyone,

My apologises about the vague topic title. One of my friends that has been trading for about 11 years now told me that I would be better off looking at daily timeframe rather than the hourly timeframe to get a grasp of how to trade successfully.

He also said that I should get to grips with using trending lines and how use the Fibonacci.

I don't really have a question as such. I am looking for a greater explanation of what he is talking about in general. unfortunately we are unable to communicate regularly verbally due to time zones.

whroeder1
17943
whroeder1  

Smaller the TF, the more noise, more obvious the different sessions, larger the spread is relative to movement. News can be a huge.

Anthony Garot
1825
Anthony Garot  

GrumpyDuckMan:

I am looking for a greater explanation of what he is talking about in general.

There is a lot involved in trading.

  • Technical Analysis
  • Fundamental Analysis
  • Psychology
  • Money Management
  • Statistics
  • Trading Plans
  • Algorithmic Trading
  • etc.

My recommendation is to read an introductory book or two, then branch out when you find out what type of trader you want to be.

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