GreatnessFx
New Member
Trade the right timeframe
Timeframes are going to play a huge part in how successful you are as a trader. Generally when we first embrace Forex trading, we are easily lured into the lower timeframes. Other trades make promises that the lower timeframes offer ‘more trading opportunities’ and the ability to ‘make more money’. What they don’t tell you are the signals have much less value on the lower time frames as they do the with the higher timeframes.
❇ Low timeframes – Lots of signals, but low quality. Plenty of breakout traps to be caught
up in, and lots of market noise.
❇ High timeframes – Less signals, but with low risk high reward profiles. Less breakout traps and more market stability and clarity.
✍ Don’t fall into the idea of trading on the lower timeframes will make you more money or enter a Forex trade via lower quality signals. You’re taking trades that contain no real substance or value. They don’t contain enough price action data, and expose you to a high level of risk. Intraday noise on the low timeframes can be so intense, trying to trade it is really just 'chasing ghosts’.
Timeframes are going to play a huge part in how successful you are as a trader. Generally when we first embrace Forex trading, we are easily lured into the lower timeframes. Other trades make promises that the lower timeframes offer ‘more trading opportunities’ and the ability to ‘make more money’. What they don’t tell you are the signals have much less value on the lower time frames as they do the with the higher timeframes.
❇ Low timeframes – Lots of signals, but low quality. Plenty of breakout traps to be caught
up in, and lots of market noise.
❇ High timeframes – Less signals, but with low risk high reward profiles. Less breakout traps and more market stability and clarity.
✍ Don’t fall into the idea of trading on the lower timeframes will make you more money or enter a Forex trade via lower quality signals. You’re taking trades that contain no real substance or value. They don’t contain enough price action data, and expose you to a high level of risk. Intraday noise on the low timeframes can be so intense, trying to trade it is really just 'chasing ghosts’.
