Time Frames

[Kevin21]

Hey,
i'm thinking about spread betting on the forex, however i was just wondering what time frames are best for day trading? I'm currently trading the FTSE 100 and the Dow and for them i use a 1min graph with a 100EMA, which i don't think would be suitable for FOREX.

Many thanks

Kevin.

 

[options]

Why don't you think it would be suitable Kevin?

Depending what spread you have to clear. It would be perfectly suitable at appropriate times. IE when markets are moving. Our open and usa open.

Put up a 1 hour chart along side and only trade in the the direction of the trend unless market is at key points. Generally speaking, the longer the time frame the better. Do you really want to spend your time chasing 10/15 pips or go for the 100+ ones?


Oh. And stop double posting

 

[Kevin21]

i get this with a 1min graph

 

[nine]

If you're trading something with tight spreads like eur/usd then I'd disagree with gammaj. Not on his analysis of market participants, simply on the utility of smaller timeframes.

You can trade some nice intraday trends using 5 minute charts and you might even drop to 1 minute if you're looking for an entry into a fast breakout from congestion. It all depends what you're trying to achieve and what you're comfortable trading.