Time Frame Used in Forex Trading

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Time Frame Used in Forex Trading

One of the things that makes newbie traders experience a lot of failure is because they use the wrong time frames that are not in accordance with their respective characters.

Time Frame Used in Forex Trading

This is more because those who have just entered the forex trading business are easily tempted by the term fast to get rich quick money so they use a very short time frame like 1 minute or 5 minutes. And as a result they are a lot of stress or frustration when what they expect does not work as it should. And in this time frame you hardly have time to analyze market conditions.
Some traders may be very fit and comfortable using a 1-hour time frame. This time frame is longer but not too long. In this time frame there are very few signals that can be obtained but not too little.Trading using this time frame gives you less time to analyze the market and doesn’t make you rush to make decisions.
But on the other hand we have friends who will never even trade forex using a 1 hour time frame (scalper type) and according to them the time frame is too slow. He will die before he can open a trading position because he is waiting too long.
But there are also friends who only trade with daily or weekly time frames because with this time frame he can do market analysis well and the signal is clearer and not too fast.
So where is your choice? Will you use a time frame that is too short or too fast?
To choose this thing you should adjust it to your abilities and character. If you are still working and there is no time to always look at market conditions, you can learn to use charts with a slower time frame because this can help you to focus more on analyzing the price movements of currency pairs.
The first author to do forex trading using a 5 minute, 15 minute, 30 minute and 1 hour time frame.Because many experience frustration due to not being able to properly analyze the market then try using the daily time frame. And all of these things are normal when first entering this business.
And almost all forex traders must experience this until they find a comfort and safe zone for forex trading. So before you use real money to do business, please use virtual money (FREE) and find a time frame that matches your personality or character in doing business.
author
Forex4Live.com is a forex trading system website that started to be published since 2011 and has been used by thousands of traders around the world. The system is very simple and accurate, priced at $ 167 for a lifetime membership with no monthly fees or hidden fees. Our team created this system by testing thousands of indicators then selecting 23 indicators and combining them into one great trading system.
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