sab kuch depend karta hai app kay apna trading style par
for a scalper par kay woh kia see the trend karta hai the h1 and entry in m5 or m15
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sab kuch depend karta hai app kay apna trading style par
for a scalper par kay woh kia see the trend karta hai the h1 and entry in m5 or m15
I also have the same intentions as you but I don't want to make huge money quickly. It will take time, first I have to build my knowledge and experience and then I have to compound my account for bigger earnings.
i think 1hr chart is best chart for both scalping and day trader . because the movements in this chart stable and this help us to identify the true trend in forex . i always trade in 1h chart
Good traders can trade any trend, though some traders feel more comfortable trading a particular trend, like i feel uneasy while making sell trades and when market is felling down so most of time i stay away of trading.
each trader has a different trading styles and strategies are different too, if I was interested to follow the daily trend, I usually first observed asia market, Asia market that typically decline when the market will go to Europe anyway and tend to decrease the U.S. market will tend to follow anyway, if there is no fundamental difference.
I think H1 is the best for us to follow. Though its depends your working style. Sort time trader use M15, M30 and H1. Long trader use H4, D1 and other trends. I am use H1 time frame.
That would depends on what kind of a trader you are. After all, it would be downright silly if you are an intraday trader but following daily trend or a day trader following hourly trend.
I think ot relies upon on each of our trading style,for the scalper or hedger, they start to see the trend in the h1 and put trade in m5 or M15
although with the daily traders, they want to see the trend in h4 or daily, and entry from the M15 or h1
Following the trend is the way we making money,
Dont ever try to fight the trend..in forex we cant change or rules the market,so we must to follow the trend..
It is true that market has possibility of making money in both trends upwards as well as downward, but still many are happy with b ullish trend, market cheers up when it is in bulls kingdom and so i feel more comfortable with bulls.