Trading on higher time frame is a pass to day day trading. You should prove to yourself that you can make money on higher frame, that you can trade. You must collect enough trading capital. You can’t just jump in and start day trading when you are not an experienced trader and just hope that you can make it. Numbers are against you so you must be prepared.
Analyze ALL timeframes. Even if you're a short term trader, knowing what is happening to the higher time frames is important, because the lower timeframes explain 'why' a higher TF is moving in a specific direction.
45656 posted: Trading on higher time frame is a pass to day day trading. You should prove to yourself that you can make money on higher frame, that you can trade. You must collect enough trading capital. You can’t just jump in and start day trading when you are not an experienced trader and just hope that you can make it. Numbers are against you so you must be prepared.
In trading, higher time give high change to successes. As a day trader I prefer h4 and h12 time frame. I always use both time fame in my trading strategy.
For newbie higher time frame is good. In lower time frame there is too much noise. Market moves back and forth a lot in lower time frame which makes a newbie restless. As a result they do over trading.
Debtless posted: Long time frame is the best time frame. Most predictable. Less time consuming and more pips. Why bother with lower time frame
Use higher time frames to analyse the trends, and lower time frames to confirm the current direction. Basically, every time-frame is used differently depending upon the strategy. If you are planning with long term trades, then higher time frames is the best. On the other hand, scalpers usually prefer lower time frames.
Time frames are dependant on what you are looking for. Higher time frames are much useful if you are planning to be a long term trader else, going for lower time frames are useful if you are planning to be a short term traders or scalper.
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.