Newbie Questions about time frames

[pips4me]

What is advantage/disadvantage for placing trades from Daily verses shorter time frames such as 5, 15, 30 mi.?

Is it more risky to play Daily TF verses 15, 30, 1 h mi, because Daily would take much longer to play out my trade? Is wider stop and profit taking needed for longer time frames?

Thanks

[Raul Lopez]

Is it more risky to play Daily TF verses 15, 30, 1 h mi, because Daily would take much longer to play out my trade? Is wider stop and profit taking needed for longer time frames?

I wouldnt say its riskier, but trades take much longer in the dailies. Actually, the accuracy of every system increases as the time frame increases... why? because the daily charts, for instance, have more data available than the hourly chart for instance.

What I do is only take trades in the short term charts, in the direction of the longer term charts

Good Luck

RL

[TechMan]

That?s the common dilemma between swing traders and day traders. The difference between day and swing traders is the amount of time they are in trade for but day traders also look to take advantage of moves in either direction while swing traders will typically trade with the trend. I prefer trading in short term but checking long term charts and trends.

[profitmaker]

I?ll recommend taking a look at the daily chart to form an opinion of the market trend and use it for the shorter-term charts. If you see the daily trend as up, look for buys on the intraday charts and if you see the daily trend as down, look for sells on the intraday charts. If you can't identify the trend, move to another currency pair.

[haley]

Hello community I am new to this forum and I came across this thread, well I just wanted to share with you all that the same thing happened to me at the beginning then I just concentrated on two indicators and I have been studying how they work together in the different time frames. I still have not come to any conclusions yet but I think I am beginning to see something.

[sincronic]

Developing a trading style must be compatible with your own psychological structure. Some people can day-trade but some people just can't. A trading style has to be congruent with your own personality.

[duvuacris]

These days we have a good time to think about everything, because the market is not too sure to trade in. I believe we have to wait for a little time (maybe weekend) to get ready for more forex.