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12/13/2017 at 13:09 #2369
Most retail traders want to make their money by trading with the shorter timeframe. We know that there are many kinds of strategies that you can use when you are using the shorter timeframe. More than strategy, it is about the time that can give you the profit. Traders in Forex are using the shorter timeframe and they are also using the longer timeframe. When they are not knowing what to do, they shift into another timeframe and try to trade with profit. The longer timeframe is the best profitable timeframe for traders but it takes time for them to understand.
Most people think that if they spend the small amount of time in Forex, they can make the best amount of money. This thinking is rational as when you close your trades, you can make the profit. Traders do not get to make their profits easily with a shorter timeframe and this is when they started thinking about trading with the longer timeframe. This article will give you some tips that can give some ideas what to do when you are trading the market with a longer timeframe. You will see that the market makes more sense now and you can understand the market better than analyzing the market in the shorter timeframe.
Extreme level accuracy
Trading the higher time frame has a unique advantage. It’s true that when you trade the lower time frame in the global market you will have lots of trading opportunities but this doesn’t mean that the quality of the trade setup will be of high standard. But when you start using the higher time frame, you will see a dramatic improvement in your trading performance. In the higher time frame you will much more accurate trading signals and most importantly chances of winning the trades are extremely high.
Use the candlestick pattern
When you start trading the higher time frame you need to understand the different forms of the candlestick. If you are completely new to this market then placing your trades in your online trading account by using the candlestick pattern will be a little bit hard for you. But once you learn the basic formation of the Japanese candlestick everything will start making sense to you. You won’t have to deal with lots of losing trades since your accuracy in your trade execution will be extremely high. To be precise as a higher time frame trader you need to learn price action trading for sure.
It may sound slow, but is better
Many people think that when they are trading in longer timeframe eh are slowing their career. It is not true. When you are trading with the longer timeframe, you give yourself more time to analyze the market. This is an investment market and the market are open for every day. You do not have to hurry and make trades that can lose your money in Forex. If you think you need to make a profit, you should think of trading the market with the longer timeframe. If you compare your trades with shorter timeframe trades, you will see these trades are better than the shorter timeframe trades. You give the trades time, it can overcome the volatility and most importantly you can make the profit. Longer timeframe also gives you more time to analyze. The more you analyze the market with your strategy, the more chance you can have in Forex. Traders with shorter timeframe have to instantly trade the market and they lose.
Trading with longer timeframe is profitable
If you did not know, trading with longer timeframe is also profitable. You will see most professional traders do not like shorter timeframe strategy. They place their trades on the market using longer timeframe and it gives them profit. If you want to make your money, you should use the longer timeframe.
12/14/2017 at 14:54 #2411
I too last month have shifted to 1 hour time frame. It really is profitable, Thanks!