[ASk] What time frame should I trade

Hello traders,

 

I want average time frame of my trades to be 3 days. Which time frame trend I should trade? 4H trend or daily trend?

 

And, what is your definition of 4H trend or daily trend?

 

How I setup MT4 chart for trend trading.

 

Looking forward for your valuable comments,

 

Nagendra

I use 2M, 15M and 60M. I use daily to look for an over all trend. I mostly scalp my trades. Not swing nor trend trading. Of course I don't really use MT4. I use eSignal.

I use 2M, 15M and 60M. I use daily to look for an over all trend. I mostly scalp my trades. Not swing nor trend trading. Of course I don't really use MT4. I use eSignal.

 

Hi Unclepips,

I use MACD to identify trend. I don't scalp because scalping is extremely stressful for me.

 

I only trade trend. Many traders say market is 25% time trending. This is myth for me. I always found a daily trend to stick with it.

Recently I join a best gold signals service GoldSignals.net and find that they use H1 for trading all the times

Yep - I heard all Pro traders use 60m charts to trade. I am a part timer, I just scalp the market before my 10 to 6 job. I hope to be full time trader within the next couple of years. I HOPE!

Higher highs and higher lows define an uptrend. Lower lows and lower highs define a downtrend. I do not use indicators, prefer price action only. You could use ADX to define trending and ranging markets. Better use the 4h for longer trends. It is more flexible than the daily.

Yep - I heard all Pro traders use 60m charts to trade. I am a part timer, I just scalp the market before my 10 to 6 job. I hope to be full time trader within the next couple of years. I HOPE!

 

According to FXCM statistics: Most forex traders are range traders. The best time of day to range trade is Asian trading hours.

 

That's why I am a breakout trader.

Higher highs and higher lows define an uptrend. Lower lows and lower highs define a downtrend. I do not use indicators, prefer price action only. You could use ADX to define trending and ranging markets. Better use the 4h for longer trends. It is more flexible than the daily.

 

I can easily determine the trend looking at the chart, But I look MACD at the time of deep retracement. I open trade in the direction of current trend if I see daily trend holds, and most of time it made me lots of pips.

 

I use ADX to determine best major to trade. I did trade USDCHF & AUDUSD in the month August last year when EURUSD became choppy on daily timeframe.

 

I find deep retracements in daily trend of forex majors. 4H trend reverses at the time of deep retracement. Now I have decided to trade only daily trend.

 

http://img716.imageshack.us/img716/9991/dailyq.gif

Edited February 27, 2012 by nagendra

According to FXCM statistics: Most forex traders are range traders. The best time of day to range trade is Asian trading hours.

 

That's why I am a breakout trader.

 

Thanks for the tips!

I can easily determine the trend looking at the chart, But I look MACD at the time of deep retracement. I open trade in the direction of current trend if I see daily trend holds, and most of time it made me lots of pips.

 

I use ADX to determine best major to trade. I did trade USDCHF & AUDUSD in the month August last year when EURUSD became choppy on daily timeframe.

 

I find deep retracements in daily trend of forex majors. 4H trend reverses at the time of deep retracement. Now I have decided to trade only daily trend.

 

http://img716.imageshack.us/img716/9991/dailyq.gif

 

How long do most of your trade normally last, since you trade mostly with 4hr and daily time frames? thanks.

How long do most of your trade normally last, since you trade mostly with 4hr and daily time frames? thanks.

 

Average trade lengths are 12 hours & 3 days of 4H & daily TF respectively. I do not carry trades over weekend.

Edited February 29, 2012 by nagendra

I enter my trades using the 15min chart. My upper time frame chart is the 4hr.

It depends on the pair you trade. You may use H1 or H4 for trading. I use H1 for spot gold trading.

It depends on what strategy you use.

 

Hello traders,

 

I want average time frame of my trades to be 3 days. Which time frame trend I should trade? 4H trend or daily trend?

 

And, what is your definition of 4H trend or daily trend?

 

How I setup MT4 chart for trend trading.

 

Looking forward for your valuable comments,

 

Nagendra

It depends on what strategy you use.

 

Can you suggest TFs according to strategies?

Higher highs and higher lows define an uptrend. Lower lows and lower highs define a downtrend. I do not use indicators, prefer price action only. You could use ADX to define trending and ranging markets. Better use the 4h for longer trends. It is more flexible than the daily.

 

I use 4H chart for intraday trades and daily chart for intraweek trades. 4H seems more flexible due to human psychology of impatience.

Hi Unclepips,

I use MACD to identify trend. I don't scalp because scalping is extremely stressful for me.

 

I only trade trend. Many traders say market is 25% time trending. This is myth for me. I always found a daily trend to stick with it.

 

You seem to be confusing things. Yes, daily trends do not occur more often than 20-30 percent of the time, but you can often catch an intraday trend. I do scalp and I do this usually with the trend. You can improve your odds if you scalp with the trend.

You seem to be confusing things. Yes, daily trends do not occur more often than 20-30 percent of the time, but you can often catch an intraday trend. I do scalp and I do this usually with the trend. You can improve your odds if you scalp with the trend.

 

I am not confused at all. I make a living trading daily trend. My trading style only needs 5 minutes a day. I am happy that traders ignorant about it.

Recently I join a best gold signals service GoldSignals.net and find that they use H1 for trading all the times

 

Are they really good? do you have any proof my friend? :)