Edit Your Comment
Which timeframe do you like best?
Feb 03, 2021 at 08:12
Miembro desde Apr 01, 2020
posts 231
To my knowledge, most successful traders forbid the use of short time frames and scalping will never work on top of that. In fact, by scalping, you may sometimes see the face of big profits, as well as the possibility of a lot of losses.
Miembro desde Jul 20, 2020
posts 399
Feb 04, 2021 at 16:14
Miembro desde Jul 20, 2020
posts 399
Dictiony posted:
To my knowledge, most successful traders forbid the use of short time frames and scalping will never work on top of that. In fact, by scalping, you may sometimes see the face of big profits, as well as the possibility of a lot of losses.
I love the 5M and the 15M
Miembro desde Jul 20, 2020
posts 298
Feb 05, 2021 at 04:55
Miembro desde Apr 25, 2020
posts 5
AurelieFrancis posted:First of all, congratulations Aurelie, on starting to learn to trade the Forex market. I like the modesty you show in choosing to focus on one currency pair, and in asking other traders for input.
I'm a beginner trading from France with EURUSD currency and would like to know which time frame is the best to trade and has a lesser risk of losing trades?
The answer to your question depends on what kind of trading you want to do. I would recommend using a Demo account with the broker of your choice for at least three months to get familiar with all the ins and outs of your trading terminal and software you plan to use, and get familiar with how the EUR/USD pair tends to move. If you know how to enter and exit trades complete with associated stop loss and take profit levels, and understand how to plan a trade before you enter the market, using a Demo account allows you to see how your chosen strategy might work out without losing real money. This is very important if you have a small amount to trade with like most beginning traders.
If you will be using a small account of real money to start 'live' trading like most beginners (less than $1000.00) you will likely need to trade small amounts per trade. Use the same small amounts to trade in your initial Demo account, even though you usually have $50,000.00 of 'play money' in the account. It will make the transition to using real money easier as the trade sizing etc. will stay the same.
These small trade sizes will make it necessary to trade the smaller time frames to make it possible to trade a bit more frequently and gain experience faster. If you take a trade on a daily chart, for example, the pip values for your stop loss will necessarily be so large that you will be limited to only one trade at a time, and you may require a duration of weeks for a typical trade to play out. That is a lot of sitting around without trading.
I would recommend using the 1Hr to 4Hr time frame to plan your trade and execute the entry and exit on a 5Min to 15Min time frame. The 4Hr time frame seems to work very well if you use Fibonacci levels to determine entry and exit points.
Please use the 'Forex Calculators' feature on the myfxbook home page (hover over the 'Home' tab and click on 'Forex Calculators') to determine your appropriate trade size before each potential trade. Plan to limit your risk for each trade to between 2% and 5% of your account to minimize the chance of blowing up your account.
Happy Trading!
Start with EQUITY MANAGEMENT
Miembro desde Sep 12, 2017
posts 238
Miembro desde Dec 15, 2020
posts 16
Miembro desde Jun 16, 2020
posts 35
Feb 15, 2021 at 05:56
Miembro desde Jun 16, 2020
posts 35
perryjohn765 posted:I however prefer 1-5 minutes timeframes. It gives me a realistic target of 10 pips per trade along with a currency pair that’s got the lowest spreads.
for me anything between 1-15 mins works the best depending on the strategy I am using that time.
Miembro desde Jul 23, 2020
posts 869
Miembro desde Feb 04, 2021
posts 35
*El uso comercial y el spam no serán tolerados y pueden resultar en el cierre de la cuenta.
Consejo: Al publicar una imagen o una URL de YouTube, ésta se integrará automáticamente en su mensaje!
Consejo: Escriba el signo @ para completar automáticamente un nombre de usuario que participa en esta discusión.