Should you trade off the 5 minute chart? Is the daily time frame the best? What about the hourly chart? With an abundance of time frames to trade off and thus choose between it is no wonder why traders new and old can get a tad confused. In my earlier, more adventurous and inquisitive days I looked at all time frames mainly in the search for the holy grail – that one time frame which could answer all my trading prayers and give me non stop, unlimited profits! Sadly it was not to be found but there is an approach you can take to find the best time frame for you and your strategy/trading style.
Trading time frames simply represent the movement of the exchange rate / price over a certain period of time. With modern charting platforms you can observe price over many different time frames but this can sometimes become confusing as to which is the best one to use to physically trade from.
For me, as I mention above, the best time frame to use is the one that matches your trading style / approach. Each trader can be categorised into one of three different styles and, dependent on the adopted style, it will naturally have a better synergy with certain time frames. Over the course of my trading career I have traded all three styles and each one had a preferential and most effective time frame to trade from.
In this weeks video I not only explain what a trading time frame is but more importantly how to best match a time frame to your trading approach.
When put together effectively, an optimum time frame alongside your strategy, you have a powerful team for trading.
Until we speak next
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