(need advise) is using 1hour time frame need to wait for the open and closed session?

[eric07]

hi.

i just need advised from expert regarding trading using 1hour TF. do we have to wait for the open and closed session to trade or just trade whenever you see opportunity base on individual trading system? i know if using BELOW 30min TF people tend to wait for the open and closed session to trade.

 

 

advise is highly appreciate.

regards

[chandu1713006579]

My advice is you never use timeframe less than 4hour.(take it or leave it:) )

 

 

Chandu

[Guest FloridaTrader]

My advice is you never use timeframe less than 4hour.(take it or leave it:) )

Chandu

 

I don't touch anything under 4H. I like checking my computer once every 4 hours too.

[nitoc]

I don't touch anything under 4H. I like checking my computer once every 4 hours too.

hi florida trader,

 

which system are you using for trade 4hr ? if you don't mind please recommend some 4hr systems.

 

 

thanks

[Guest FloridaTrader]

hi florida trader,

 

which system are you using for trade 4hr ? if you don't mind please recommend some 4hr systems.

 

 

thanks

 

I'm using a combination of several bits of pieces of system indicators (not full systems) such as xsupertrend, bullseye, moneyline, xard, ft qqe, dynamic gains, etc. One or two of the indicators are blacklisted. Send me your email address (by pm) and I will be happy to send you a picture of the system. I like the 4H chart because I can spend quality time doing other things even though I trade full time.

 

Keep in mind that a trader that uses a 4H time frame should trade small lot sizes since movements can be large. With a good system, the large movements can be to their advantage.

[⭐ DaveWuk]

To answer your question, most software packages produce bars in whole hour units so that results in bars closing on the hour - hence 9 am, 10 am, 11 am etc. The time is tied to the exchange time.

 

Some packages enable you to customise the hour closing so if the market starts at 8.30 the first bar closes at 9.30 am then 10.30 am. Such as Tradestation.

 

So your choice.