What is your favorite time frame for trading (5 min charts / 15mins / 30min / 1hr / Daily / Week..etc) and why do you prefer that particular time frame?
Did you choose your time frame based on your lifestyle outside forex or because a particular strategy told you to do so?
Curious to see your answers on these.
hi navin. my favorite time frame for trading is daily/ 4 hour chart and entry on the 15 min.
i like it because on smaller time frame you need to sit too much in front of the computer, checking for entries, managing your trade...
Hi Navin my favourite time frames for now are 1 min, 5 min and 15 min and I chose them simply because I just want to learn how price moves and react to certain events on a daily basis. It's quite clearer what is happening compared to 1 h charts as there's more data. However, for me this is basically for learning Forex since I'm a newbie here but as I get comfortable reading min prices I can then go for longer time frames like 1h and 4h.
Navin, I have been unsuccessfully learning Forex for 2 years. I was always trading on the smaller time frames and not profitably. I discovered you and a few other calm and patient teachers and have now moved to the Daily charts. Less stress and I am now profitable and enjoying your teachings. Currently holding 2 positions on the eurusd and the usdjpy and over 300 pips. Have already moved stop losses to profit and sleep at night. I am slowly but surely paper trading your tower strategy on the 4 hour charts with correlation. I am searching for a good micro broker in the US to start your pro strategy. Thanks again for all you do.
Just and update. EURUSD trade stopped out on the crazy moves on Friday. Still 113 pips to the plus side.
15 Min, I can spot accumulation on a 15 min chart during london or New york sessions. Gets me prepared for a stop run in good time. There was one actually last night (May31st 2012) on the AUD/USD when it made a retracement to near the day's high....there was accumulation then boom..7 pips past the high only to slam it down 100 pips into the asian session. I caught that trade when I spotted the accumulation.
15min is what is always on, but I cycle through the 1 hr and 4 hour charts every hour or so when am waiting for a set up.
I go through Daily, 1H and M15 charts
Daily, I use to see big picture of the market, see major support and resistance area along with candle shapes of previous few days to give me overall indication of the market.
1H , I mostly use for my trading setups, such pivot lines , support and resistance and trend lines
M15, I used to see early signs of reversal patterns and then confirm them with 1H. sometimes I used M15 for divergences and scalping.
My favorite one is: 15 minutes or 30 minutes, but sometimes i use 5 minutes, as well as 1 hour especially if II need a stronger signal for whatever trade Im doing. I compare with previous market movement.
My apologies for late response due to exams.
I trade the 15 min and 1 hour time frame most of the time.
I dont trade daily charts and 4 hour chart because I can stand infront of the PC all day and want to take profits as they happen. At times,if my targets are reached,I can call it a day after three to four hours. I dont trade 1min and 5 min chart,they are highly unpredictable for me(noise) and I dont use a low spread broker,so scalping on such time frames just doesn't work for me.
Strictly speaking this was a big bridge for me when I started out learning forex on my own coming up 1 year now. Initially I was drawn in to wanting to see money on my efforts daily, but the mental stress of having to sit down watching lower time frames of < 1M - 5M - 30M < was just not worth it for me. I have a family and had to accept working round them i.e. school runs and so on, moreso I work nights mostly.
Quickly I knew I had to do something to help myself, and researched more - where my discovery took me in to the POWER OF PRICE ACTION. and from my findings it is insane for anyone in my class NOT TO FALL IN LOVE WITH THE HIGHER TIME FRAME 4H - D. Where stability is assured in price.
But ever since meeting you and your strategies I fell in love with the pro traders strategy and loved the results on the 1H, so with joy of announcement I am now confident in the 1H as a result of you. I don't think I will enjoy any time frame less than this...........more so the pips are larger on the HIGHER frames which I adore. I have learnt to stick with 1 startegy at a time so I have not even borthered in learning your other startegies nor click and open then, am just repeating the protraders video on and on and on again...I LOVE ITTTTTT, it's real and concretely genuine.
So yea, my choices of time frames are 1H - 4H - D....preferential Daily..so I can have a life off the screen.
NAVIN YOU ARE STILL MY GENIUS...........can I ask are you an Alien......am all waiting for the webinar on the 10th. PLEASE DO US SOMETHING CONCRETE ON PRICE ACTION....a course/manual we can buy or download from your own experience. NAVIN IS THE BEST............