Know The Time Frame Of Forex Trading. When first we start to trade, then we are asked to download a piece of software that MT4 serves as a means for trading where the broker places we register. After we are finished downloading the software, where the appearance of so many media that make us feel confused will use the individual commandments themselves from the provided menu. to get rid of your confusion, I try to elaborate on one menu, where the menu was the Time Frame (time frame).
Time frame itself can be a viable option for a trader to be comfortable while doing trading everyday activities. Own time frame to traders used to perform market analysis so that the trader is sure to do the open position buy/sell.
For more details regarding the time frame you can see in the picture below:
Description:
M1: the movement of the market price for 1 minute
M5: market price movements over the past 5 Minutes
M15: market price movements over the past 15 Minutes
M30: market price movements over the past 30 Minutes
H1: the movement of market prices for 1 hour
H4: the movement of the market price for 4 hours
D1: the movement of the market price for 1 day
W1: the movement of the market price for 1 week
MN: the movement of market prices for 1 month
From the above explanation regarding the Time frame, hopefully beginning traders have no trouble back in determining the time frame that they want. When asked about the time frame which best? of course the answer back to the character of the trader in the trading. Because many traders who erred in taking the Time frame for the chart. They do not adjust the time frame that they use with their characters so often they experience the frustration and losses for trading activities in daily losses.
Many beginning traders who tend to use the Time frame 5 minutes or 15 minutes in hopes of reading market movements in detail so that it can profit from any market movement. But what happens is just the opposite, such rapid price movement change made them panic and confusion so often too quick to close lucrative deals and instead let a losing transaction moves the team to the brink of collapse.
If you are a novice trader, certainly you can read carefully about the situation, that is a common mistake. There are a few experienced traders have felt comfortable to do trading using H1 time frame. Because the time frame is long enough so that they can observe the movement of the currency with duration of up to 2 weeks, which can make it easy for them to recognize trends and market conditions properly.
But there are also traders who feel that the time frame is long so H1 frustrating, having to wait 1 hour to be able to see any changes in the market. They like the shorter time frame, such as 15 minutes. With the time frame they can observe the movement of the currency within a few days and not have to wait too long until the observed price changes.
But there are also traders who felt the H1 Time frame too quickly, so they use daily or weekly Time frame because they want to analyze market conditions and trends that occur within a few months or a few years earlier. This is usually done by large investors, which every pertransaksinya can provide a significantly impact on the direction of currency movements.
Thus there is no specific Time frame is best, since each trader has the best Time frame for the characters and their style of trading. Just a picture of a Time frame are often used by the trader in accordance with their trading period:
- Position trading (long term), a daily chart (D1) and weekly (W1)
- Swing trading (short-term), chart 1 (H1) and a 30-minute (M30)
- Intraday (daily), chart 15 minutes (M15) and 5 minutes (M5)
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