which chart time scale is better for trading

To add comments, please log in or register
Forex Trader
114529
Forex Trader  
this is santosh. i am using meta trader for forex trading and i am confuse one thing that is which timescale chart is better for forex trading i mean which periodicity chart is better that is 1 minute, 5 minutes, 15 minutes, 30 minutes, 1 hour, 4 hours, daily, weekly and monthly chart is better for forex trading. please tell me sir.
Forex Trader
114529
Forex Trader  
any one please tell me sir. i want to know which periodicity is better for forex trading please tell me sir.
Forex Trader
114529
Forex Trader  
any one please tell me sir. i want to know which periodicity is better for forex trading please tell me sir.
It depends on whether you're going to loose or earn money.
The period doesn't really matter for the former.
For the latter it would be reasonable to gain some theory and experience first. Most likely that will eliminate the question in the first place.
Forex Trader
114529
Forex Trader  
Your question has no answer.

Think about for a second. If your question had an answer that someone could convey in a simple forum post, don't you think every trader everywhere would be successful? (Which, in iteself, is an impossibility since trading is a negative sum game).

The best answer there is, is that it depends on your strategy.

If you want to get into trading buy some books and start reading. Then browse other forums (b/c this is about the MT4 platform, not forex trading) and start reading. Then read some more. And get the idea out of your head that you're going to be a millionaire if you just spend a few months trying to figure this "Game" out.
Forex Trader
114529
Forex Trader  
any one please tell me sir. i want to know which periodicity is better for forex trading please tell me sir.

Essentially, trading is like driving a car via serpentine having 180 deg. view through rear window and rear mirrors only. Your 180 deg. forward view is total darkness.

It is up to you how fast you want to go to sustain driving on the road with minimum damage.

So, if you will look far back (long period) you cannot predict immediate curves but can imagine overall serpentine trend.

In contrast, if you look sideway (short period) you can predict immediate curves but unable to imagine serpentine trend, a.k.a. "scalping."

Under any circumstance "trend is your friend".

First observe trend from distance H4, D1 and see the trend.

Then switch to M5.

If the trend was down do not BUY unless you want to execute 5 to 10 pips scalp.

If the trend was up then do exact opposite.

After about a month and many sleepless nights you get feeling for the game.

I strongly recommend that you do that on the DEMO account.

Finally, be patient, disciplined and set aside your ego while investing into FX.

Never be Bullish or Bearish.

Just play what you see.
Forex Trader
114529
Forex Trader  
hello sir,
please understood my problem that is for example i take eur/usd 1 hours chart and in that chart Bollinger Bands shows buy is better in that same time i take eur/usd 4 hours charts ad in that chart Bollinger Bands shows sell is better so how to find sir which side is better for trading. please clarify my doubt sir.

regards,
k.n.v.santosh
Forex Trader
114529
Forex Trader  
hello sir,
please understood my problem that is for example i take eur/usd 1 hours chart and in that chart Bollinger Bands shows buy is better in that same time i take eur/usd 4 hours charts ad in that chart Bollinger Bands shows sell is better so how to find sir which side is better for trading. please clarify my doubt sir.

regards,
k.n.v.santosh

They are both correct!
It is up to you in what time frame you want to invest.
If you do not understand my prior posting you never will.

However, your questions are out of scope of this forum.
This is technical forum relating to MT4 technical questions and support and not FX market.
Try this forum: http://www.learncurrencytrading.com/fxforum/
Forex Trader
114529
Forex Trader  
so how to find sir which side is better for trading. please clarify my doubt sir.


How can you ask a question like that? There is no concrete answer, and if there was it would be a quasi-holy grail and you wouldn't find the answer to it here!

Man look, you're asking how to trade. Whether you realize it or not that is what your asking. Guess what, it takes time and then once you figure one thing out, things change and what you thought you knew is no longer valid. And so on. I think of trading as a constant battle. There are no hard rights or hard wrongs. IOW, to find the answers you're looking for, you need to go elsewhere. Take sub's advice.
Forex Trader
114529
Forex Trader  
knvsantosh, please excuse me but my gut feeling tells me that the appropriate time frame for you is the Monthly.

PQDzung
Forex Trader
114529
Forex Trader  
knvsantosh, please excuse me but my gut feeling tells me that the appropriate time frame for you is the Monthly.

PQDzung

I would say infinite.
Forex Trader
114529
Forex Trader  
It would depend on which market you feel comfortable in trading in. If you wish to be in and out of trades quickly then trade the one minutes and 30 minutes markets I would not advise this if you are a new trader it is much better to trade long-term i.e. four hours or longer.
To add comments, please log in or register