pips4me
05-14-2008, 08:54 PM
I read about time frames, but no one ever explains in details differences between them as pertaining to trading. My questions are:
If I trade from 30,15 mi. chart verses 1H , 4H, Daily chart, what do I need to establish before I place a trade on any time frame? Everyone talks about the trend. How do I know how long the trend is going to last? How to catch the trend at the beginning or the end? On what time frame should I consider the trend I chose to place my trade?
Why would I choose one time frame over the other? What advantage and disadvantage daily time frame have over 1H, 15, mi, 30mi, 5mi. or any other time frame?
Would Daily time frame take much longer to play out my trade than 15,5.30 mi 1H or 3H time frame therefor expose my investment to more risk ? Would I need to place wider/tighter stops and approximate stops for long TF and short TF.
If the very current(last part) of the daily chart shows down trend, but rest of the Daily chart appear to be uptrend, which part should I consider as more valid, more current or?
I hope you can explain each q.in a simple way so that someone totally new to fx can understand. Sorry for so many q., but I really need all this clarified before I even start any demo.
Your help is greatly appreciated.
If I trade from 30,15 mi. chart verses 1H , 4H, Daily chart, what do I need to establish before I place a trade on any time frame? Everyone talks about the trend. How do I know how long the trend is going to last? How to catch the trend at the beginning or the end? On what time frame should I consider the trend I chose to place my trade?
Why would I choose one time frame over the other? What advantage and disadvantage daily time frame have over 1H, 15, mi, 30mi, 5mi. or any other time frame?
Would Daily time frame take much longer to play out my trade than 15,5.30 mi 1H or 3H time frame therefor expose my investment to more risk ? Would I need to place wider/tighter stops and approximate stops for long TF and short TF.
If the very current(last part) of the daily chart shows down trend, but rest of the Daily chart appear to be uptrend, which part should I consider as more valid, more current or?
I hope you can explain each q.in a simple way so that someone totally new to fx can understand. Sorry for so many q., but I really need all this clarified before I even start any demo.
Your help is greatly appreciated.