The importance of the Multiple Time frame use in trading!!!!
yes i do agree with you friend that. selecting time frame is the best way of trading for getting the best trading result. i think that a trader should use the D1 time frame for long time trading and for short time the other lower time. D1 is the best time for me because i am long time trader. it seems to me that it gives me the right decision.
yes this is correct that time frame selecting is the great strategy for all. because by it a trader can get the single of when he should induce into trading and when he/she will out.
In forex trading, we have multiple timeframe that gives the traders opportunity to view the market from different angles. The reason why we have different time frames is for a traderís method of trading because we have different types of traders or let me say different types of trading methods which are; scalpers; day traders; swing traders; and position traders.
Furthermore, we have different time frames which starts from 1 minute, 5 minutes, 15 minutes, 30 minutes, 1 hour, 4 hours then to daily candle, weekly candle and monthly candle.
The method you trade will determine the timeframe at which you will use. For instance, if you are a scalper, you have to be trading on a smaller time frame like 1 minute to like 30 minutes, and if you are a day trader you trade on 1 hour and 4 hours timeframe, if you are a swing trader you start your analysis from the daily candle and if you are a position trader, you trade on weekly and monthly candlesticks.
When we talk about time frame on forex trading platform, we talk about chart and we have different charts on forex trading platform such as 1minute,,5 mint ,15 mint, 30 mint,1hr,4hr, daily ,weekly and monthly chart.each of these are very important ,it depend on each trader how they make use of any of the time frame.To me higher time frame are more reliable dependable than lower time frame however each of these are very useful they compliment one another, As a trader need every time frame for best analysis, trader should not over look any time frame, Frorex trading shouldn't have be easy at all if there is no charts or time frame
using multiple time frame has a lot of strong advantage for me i think it ability to use it to detect the support and resistance line and again the smaller time time frame can always always help to know when is the perfect time to enter the market and the bigger time frame helps also conclude on which direction the market is heading to so trying to put the whole time frame into consideration as a trader is really very important and can help increase the level of accuracy while trading .
for instance if you detect a trade on the 1 hour time frame you can use the indicator such as the moving average to detect the supports and resistance on the different time frame, if you check the minutes time frame such as the 30 mins and 15 mins and there is no really a strong resistance and support hindering the trade and its the same with the daily time frame there are strong chances that the trade will move with little restriction so the chances of the target to to be actualized will be greater and that is the same if you are using a price action system to make analysis in terms of using the shapes of candles to detect the support and resistance line on the different time frame it will help you know when exactly to enter the market after consideration of the time frames has being made. again the different time frame helps a trade to know how long the trade his entering will last. for instance if you detect a trade on the 1 hour time frame and then you check out the daily time frame frame and it happens that both are supporting the analysis then there are chances that the trade will just be on a short term and then it looks more safer, but if the the daily time frame does not really support the hourly time frame then it simply means that you have to be cautious about the take profit because it simply means that the trade will after some time experience a turn around from the discretion which the hourly time frame was supporting so what that means is that such trade should be considered as a short term analysis and not a long term, considering all the time frames really helps us on how to manage the risk that follows the forex market.
Forex Forum mt5.com – Introduction.
Forex market is high-yield and risky
mean of taking profit by operations with the currency rates. Instruments
of work at Forex market in many ways determine the result of currency
trading made by Forex market participants – brokersí clients. Every
Forex broker offers its own terminal, however the most part of brokers
and traders concur in choosing MetaTrader 4 and MetaTrader 5 terminals.
This forum is created for those who prefer the terminal of MetaTrader
series in trading on Forex.
Forex Forum mt5.com – trade discussion.
Forex market forecasts, independent
opinions of novice traders and experts of the currency market – all
this you will find at the Forex-forum of trades discussion. Solid experience
of work on Forex is preferable, but all comers including Forex-newbies
may come and share their opinion as well. Mutual help and dialog –
the main goal of communication at Forex-forum, devoted to trading.
Forex Forum mt5.com – dialog with
brokers and traders (about brokers).
If you have negative or positive experience
of work with Forex broker – share it at Forex Forum, related to the
questions of Forex service quality. You can leave a comment about your
broker telling about advantages or drawbacks of work at Forex with it.
The aggregate tradersí reviews of brokers constitute a rating. In
this rating you can see the leaders and outsiders of the Forex services
Free discussions at the Forex Forum
You are a trader and want to relax?
Then Forex Forum for free discussions is for you. There are no doubts
that conversation on subjects close to Forex market is preferential.
Here you will find jokes about traders, caricature of Forex brokers
and full-rate Forex off top.
Bonuses for communication at Forex
This forum is created by traders for
traders and is meant for deriving of profit. However, each post at the
Forex forum gives its author a forex bonus, which can be used in Forex trading
at the account opened with one of the forumís sponsors. This small
gift is presented with the aim to reward professional traders for spent
time at our forum.
We appreciate your choice of Forex
forum mt5.com as a platform for communication.