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    Thread: Trading on the daily time frame is the best

    1. #1
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      Default Trading on the daily time frame is the best

      Trading in the forex market using technical analysis requires you to choose the appropriate time frame when using trading charts. There are many types of time frames that the trader can choose the preferred time frame, but always use long time frames and avoid using Short time frames such as the time frame are 5 minutes or fifteen minutes. The use of the short time frame requires that the trader be very professional and experienced so as not to fall prey to rapid and volatile price movements. For this reason, it is always preferable to use the daily timeframe, which is the best framework for many traders because it provides the trader with a high level of security.


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      I completely agree with this statement because if you use the daily candles consistently for your market analysis you will find out that you are close to understanding the market more accurately than using the so called smaller time frames that are very unreliable and not worthy of investing in.


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      Actually the time frame is very important for all the traders to do the business perfectly. We must have to use the longer time frames when we are doing this business in long term planning. For a long term trader, the day chart is the best to analyse their data but for short term traders, the H1 or Min 30 can be the best. For me, I like the H1 chart for my own trading career.


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      That is very true, though the 4H time frame is good as well, and helps the trader to do a short term trade calculation. So you see, it is still very much OK that traders know how the trade for the day will go. SO, my advise is that traders know how best to carry out their trading activities for each day.


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      The higher time frames such as the daily chart provides safer trading opportunity than the shorter ones. This is because the shorter time frames are often retracements or pull backs as price continues advancing in the direction of the major trends.
      POSSIBILITIES ARE INFINITE IN THE FOREX MARKET, YOU CAN ACCOMPLISH ANYTHING !


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    11. #6
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      Yes of course its good to trade on the daily time frame but we should not neglect what is seen in other time frames so we can have a clear definition of what is going to happen in the market, because every single signal on every time frame must take place so its better we read from at least from the minutes to the daily time frames before we enter a trade.


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    13. #7
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      Yes it s the best idea we can watch the daily time frame candle it will give us a good idea which time is best on which trend we can open order and it will give us a profit we can see the all day market movement and trade easily also we can watch hourly time frame for better trading.


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    15. #8
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      For long term traders not for scalpers. Scalpers do not need to follow or use day time frame. They need to use M5,M15 and H1. This is the way I trade. I do not follow day time frame unless I am taking entry for long moment. Besides, everybody has different concept. But I think scalpers do not need to use D1 time frame.


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    17. #9
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      Yes it is, using Daily Time Frame shows the important view of the market with less noise and false signals as compare to the lower time frames.
      It slows down my trading as I am trading only on the daily close chart, I do use also 4hr chart only when looking for the possibility of retracement and as entry point but the overall trend still on the daily. Daily Time frame also help me avoid "Over Trading" and improve a lot of discipline and patience on opening position.


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      Trading on daily chart means that you are a long term trader. When you make technical analysis based on daily chart, you should know that your trade ideas will materialize in days or even weeks. So your time frame should only be as a direct result of your trading style. A daily chart is not the best for a day trader. A day trader can make use of 1 hour to 4 hour time frames. You can trade using multiple time frames, where you use a much lower time frame to determine entry and exit points.


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