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The timeframe that you understand the most is the best time frame. You have to research on all time frames and see what works for you. It is time taking. That's why trading is not so easy. You have to do a lot of experiment to get a good trading system. Here most people make the mistake. From the very beginning they want to make money.
I prefer using the daily timeframe because its the perfect platform for trading where many trades range from beginners to professional traders. Some prefer higher time frames, but it mostly depends on trading style.
Time frames are a very important aspect for forex trading as the market is very volatile. I use smaller time frames as it helps me in scalping out the prices though smaller time frames require more time to sit and analyse.
Ramierez posted: I prefer using the daily timeframe because its the perfect platform for trading where many trades range from beginners to professional traders. Some prefer higher time frames, but it mostly depends on trading style.
Yes, using daily timeframes is something I also prefer. Smaller time frames are really useful for timing entries. But again it all depends on the trader.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.
Past performance is not indicative of future results.
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