Start of education

Discussion in 'Forex Education' started by Dolgart, Mar 28, 2016.

  1. Dolgart

    Dolgart Trader

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    Hello! I have started to study different trading system. I am newbie and have question.
    What timeframe is better to use for newbie? There are a lot of systems for different timeframes and i don't know what to choose.
     
  2. Enivid

    Enivid Administrator Staff Member

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    Higher timeframes offer better range-to-spread ratio, but the lower timeframes offer more trading opportunities per hour/day. I would suggest starting with M15 or H1 as a newbie.
     
  3. Dolgart

    Dolgart Trader

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    Is it very risky to trade with such little timeframes? What indicators should i study?
     
  4. Enivid

    Enivid Administrator Staff Member

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    It is not risky - it is just more difficult because a bigger part of the price movement will be eaten away by the spreads.

    I would suggest learning to trade without technical indicators.
     
  5. Dolgart

    Dolgart Trader

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    I am sorry, but may be i misunderstood you.

    I am newbie, but you advice me to trade on more difficult timeframes.
    If i shouldn't trade with technical indicators than i should to trade with figures or fundumental analysis. But as i read, these analyses are used on timeframes not less than 1hour.
    So, i misunderstood your advice.
     
  6. Enivid

    Enivid Administrator Staff Member

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    I advise learning to trade on them - lower timeframes offer more trading opportunities to practice.

    No, you are not limited to figures and fundamental analysis if you do not use technical indicators. You can still trade based naked price action, support and resistance, trendlines, or candlestick analysis.
     
  7. ijak8510

    ijak8510 Trader

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    if you wanna more better timeframe. i suggest you trade with H4 . because with this TF, you only need to look the chart every 4 hours
    however, usually h4 has more bigger stoploss in pips
    and like what moderator told you, try to study classic technical analytics , ie Candlestic, chartpatter, trendlines,Supply Demand , dow theory, S/R.,
    Especially Dow Theory, you need to learn it .
    and its better you learn from basic, most site like earnforex, babypips, brokerarena, provide free educational material
     
  8. Dolgart

    Dolgart Trader

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    Thank you very much! I will use it!
     
  9. radex78

    radex78 Active Trader

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    Timeframe used based on style trading I think, daily timeframe and wekly timefrae used for position trader which they look target monthly, four hour timeframe and one hour timeframe used intraday and swing trader, but scalping trader they will open and closed order short time they use five minuite timeframe
     
  10. ijak8510

    ijak8510 Trader

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    it depens on traders characters. for me for example, trading with D1 or W1 chart are very very bored. because we limited our opportunity
    but i can trade with h1-h4 but can not with anything under m30.
    and for small timeframe trader like me, i remembered what i read in brokerarena, a busy trading session is suitable for me
     
  11. MarkTrader

    MarkTrader Trader

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    Higher time frames can give more reliable results?
     
  12. myfxpt

    myfxpt Master Trader

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    I agree with Enivid re learning to trade without indicators, and I understand the point being made re M15 time frame (more trades equal faster learning), however, longer time frames are where you will find the most reliable signals. I trade the H4, get my support/resistance levels from D1, and use multi time frames (H4,D1,W1) as confirmation. I use SR, Trendlines, and Channels, as well as Pin Bars if price is near SR levels.
     
  13. radex78

    radex78 Active Trader

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    I am also like trade without indicator and using candletick pattern to analyze trend market that ocur, many indicator also giving lagging signal in trades and this is only help tool for trader and not always profitable, making trading being simple as long as we know what to do
     
  14. ijak8510

    ijak8510 Trader

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    not really .. however i am not fan of Higher TF, too much Pips to risk
     
  15. MarkTrader

    MarkTrader Trader

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    But many people believe that lower time frames should be avoided by newbies.I believe when you trade the higher time frames you get a clearer picture of what is really happening in the market.
     
  16. myfxpt

    myfxpt Master Trader

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    That's right! Far less noise from H4 upwards, so less false signals.
     
  17. MarkTrader

    MarkTrader Trader

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    You have also a live account with IC Markets or just a demo one?Would you recommend them?
     
  18. myfxpt

    myfxpt Master Trader

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    Just a demo at present. I am testing IC Markets Australia cTrader platform. For your reference I have pasted an extract from Forex Peace Army below:

    Overall Rating: (3.497)
    Total Reviews: 204
    Last Updated: 2016-04-10
    Description:
    IC Markets are forex brokers. IC Markets offers the MetaTrader 4, MetaTrader 5, MT Mobile, and cTrader global forex trading top platforms. ICMarkets.com.au offers over 60 of the most traded currency pairs, indices, and commodities for your personal investment and trading options.

    Special Notes:
    Other websites of this company include ICMarkets.com.au
    January-February 2015: A large number of suspicious and fake positive reviews have been submitted for IC Markets.
    May 2015: There is an FPA Traders Court guilty verdict against this company. The FPA recommends caution dealing with ICMarkets.com until this issue is resolved.
     
  19. radex78

    radex78 Active Trader

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    So many option platfor mavailable, this is might help trader to choose platform that preferable, I am not use Ctrader so far and still using metatarder in my trades which in my experience this is already enough and user friendly
     
  20. myfxpt

    myfxpt Master Trader

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    The two main options available are Metatrader and cTrader. Nothing wrong with Metatrader, but I am finding cTrader to be a pleasant experience...user friendly and flexible.
     

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