Your suggestion is acceptable but in my view that H1 chart is also important, if you are short term trader than see both H4 and H1 chart and when you want to open your position then use even M5 chart to enter on perfect point.
Printable View
Your suggestion is acceptable but in my view that H1 chart is also important, if you are short term trader than see both H4 and H1 chart and when you want to open your position then use even M5 chart to enter on perfect point.
I agree, it really depends on a trader, if a trader is scalper he will use small time frame to open any position but a medium term and long term trader will use H1, H4 or daily chart but we must go with trend.
haa...mein bhi scalping hi karta hoon...mein forex mein newbies hoon aur long term analysis nahi kar sakta ...so meri abhi learning chal rahi hai to scalping through hi paise kamata hoon...thoda experience hone ke baad analysis based trading start karna chahta hoon
I am a day trader. I am very comfortable trading with H1 tf. tf This will show us the daily trend is real. whereas, the smaller trends that I use to make decisions entry point. like tf M15.
i like to trade with scalping...as i want 3-6 pips in every trade..and also i use 1m,15m,30m chart for analysis...as i am newbie so i dnt hav much knowledge and cant able to make goood long term analysis...
Not just technical analysis but also fundamental analysis because if you are scalping and news comes out that takes the trade in the opposite direction, the loss will be much. It is much better if you avoid news period when scalping and to do this you need to know when news will come out.
of course it depends on the trader targetQuote:
Originally Posted by arjun
follow small trend in scalping, medium trend in day trading, and big trend in swing trading, it is best if all trend are going the same way, lower risk to gain more profits
just be careful, make sure you had a clear idea of your trading plan, and follow it, and know what condition that may give false signal
Yes H4 and H1 time frames have strong trend but you should also notice the trend farmed in these charts consists many days data and there are many traders who can hold their positions for more than 30 minutes. Such kind of traders have nothing to do with H4 so better to use it for taking direction and watch on lower time frames.
I prefer to follow the trend established by TF 1Hour and Tf 4 Hour. TF I chose this because it often led to false so that the trend will lead us astray in the reading direction of market price movements....
any trend is good (i mean up trend and down trend not the sideways trend).
but in my experience, it is much more fast making profit during a downtrend than uptrend.
the reason is panic strikes the traders heart and mind faster.