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Best timeframe best system best pair?
5 Answers
<p>No specific instrument or time frame is regarded as "The Best". The time frames one chooses completely depend upon the type of trading one is involved in. The scalpers use smaller time frames like the minute chart, 15 minutes chart, or intraday charts. Monthly charts or weekly charts are usually used only for long-term investors. Regarding the forex pairs, one need not master every instrument pair. The trader only needs to have a strong grip on the instrument he is dealing in and should have a continuance eye on the market trends.</p>
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<p id="isPasted">Time frame is dependent upon the Time, trader have to spent upon forex market. How much he can analyze forex market.</p><p>The most famous currency pair is EUR/USD.</p><p>because both are strong currencies and not show much volatility.</p>
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<p id="isPasted">Any time frame.</p><p>But if you are trading then it should be daily because you will not be affected by the news in such way you would be on the lower time frame.</p><p>If you are trading gbp pairs then daily time frame is not good because those pairs tend to jump all around more than daily average.</p>
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<p>There are many pairs to trade in excess of 50+pairs including majors (GBPUSD, Euro, Yen, Swiss), Minor (Cross Currency) and then you have exotic pairs. Every pair behave differently some more volatile than the others. To find the best currency pair that resonates with your patience and personality requires hours & hours of chart time. Swing traders trade are mainly focused on 4 hourly, daily and weekly timeframes. Intraday Traders tend to trade and close positions by end of the day i.e. not hold overnight and mainly trade of the hour down to the 1min chart.</p>
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<p>The problem isn’t about finding the forex pair and the time frame, it’s about finding out what works best for you. What works for someone may not really work for you. Learning a strategy or method from someone is easy, executing the same is what makes it difficult. Maybe the trader who you admire or is succeeding has a better understanding and gut feeling (intuition) which comes naturally to him based on his experience of the markets.</p>
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