I am looking into which time frame is considered best for desire strategy/goal.
As a trader that wants to seek profits on a regular basis lets say within 1 day what time frame is suitable for this to happen. My suggestion is 30 mins / 1hr charts.
If on the other hand I was a buy and hold type of guy surely I would look at daily charts.
So the question remains is time frame important in your strategy and profit target?
Chris
As a trader that wants to seek profits on a regular basis
I don’t know of any other type of trader. 🙂
Once again this is only a decision that each trader can make themselves.
Intraday Trading = exciting, very time consuming, might make 20 pips one day and lose 19 pips the next. Might lose 19 pips a day for 10 days in a row.
Daily Trading = longer periods of worry/boredom, plenty of free time, might make 1000 pips one month and lose 900 pips the next month. might lose 900 pips for 2 months in a row.
You just have to decide what suits you best.
As Vonasi is saying it all depends on ur strategy. There is no right or wrong answer, ur strategy might be done within 10 minutes, or 10 days. All depends on ur entry and exit. There is no “1 way to trade and THIS is how u do it!!”
Just test everything and nothing and see what happens. If it looks robust and good shit, put it in demo 1-2 months and see what happens. if it behaves just like backtest just put it live and pray to jebus! 😀
Edit: Can also add that Smaller timeframe = more trades, more noise, more fake signals
while Larger timeframe gives less noise, less opportunities and less fake signals
This is obvious… Just check out the different timeframes and find the one u wanna trade. again there is no right or wrong answer. I could never trade on 1 min cus its just way way too much. At the same time i dont have any daily strategies cus i think its too slow. So i like to work in 15m, 30m and 1h! But if i dint something that looks great on 4 h its not like i wouldnt run it hehe 🙂
