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Thursday, 22 July 2010

Forex Education : Make your buy sell decision based on reviewing 3 different time frame

I read this article before where it emphasizes on trading forex based on reviewing 3 different time frame on same currency pair.

I did read the article but I myself didn't practise it. Maybe this is the reason why I lose in forex trading.

Below is the suggested time frame set
•1 minute, 5 minute, and 30 minute
•5 minute, 30 minute, and 4 hour
•15 minute, 1 hour, and 4 hour
•1 hour, 4 hour, and daily
•4 hour, daily, and weekly and so on

The reason to review 3 time frames before trading is due to shorter time frame indicator might give you wrong signal.

For more details, you can read from the article
http://www.babypips.com/school/long_or_short.html





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1 comment:

  1. When come to trading, zoom in/out the chart doesn't really help. It's all about the timing you get into play. Try to look out for clue in other pairs be4 placing your trade will serve u better. Eg, eurusd tends to move slower than gbpusd and when u spot movement in gbpusd, then u got the better idea of how to trade since the two pairs are highly correlated. The reason why zoom in/out the chart hold less importance is becoz each time frame got different players behind it, and you woundn't know who will release the bomb and dictate the move...hope tis help:>

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