Showing posts with label chart. Show all posts
Showing posts with label chart. Show all posts

Time frame

Time frame - a time period during which something occurs or is expected to occur; In Forex, that time is made by candlesticks.

For ex: 1 Hour TF, means that each candle represent 1 hour of trading, 4 H represent 4 hours of trading and so on.

Depend of your forex broker and the platform provided by him, TF should be: M1( 1 min ), M5 ( 5 min ), M15 (15 min), M30 ( 30 min ), H1 ( 1 hours ), H4 ( 4 hours ), D ( Daily ), W ( Weekly ), M ( Monthly ).

For beginners, I recommend to start on 4H or Daily chart, to practice on demo accounts and minimum Daily chart for real accounts. You won't have many trades / week and might be a problem with "speeding in learning" on practicing account, but on higher TF, you won't need much fundamental analysis for news and corrections.

For ex. here, on H1, with ups and downs, those 24 candles = 1 Daily candle 09 dec 2011, during EU Economic Summit:

 After at least 1 year of experience on the market, you can try under H1, after you will learn how to trade during news. ( on major pairs almost every day, all day we have news - you can't practicly avoid them by not trading during news )

Best Regards,