What is the best time frame in Forex?

[Jack Francisco]

The 5 minute timeframe in forex is just noise. Other markets, which are not subject to activity that isn't trading for profit, are better suited. As a trading vehicle, fx comes into play when money is moved into other markets or when those securities are sold. It also comes into play when the interest rate differential can be profitable. Other activity includes swaps however their sizes aren't likely to move the market. Government bonds are another element where fx is involved.
What I am getting at is the 5 minute timeframe is mostly messy and that you'd be better off watching these factors before you trade it or else you will likely get fooked

5 Mins is a short term trading, this is scapling, I have to admit that you can earn money from short term trading, but I think it is hard for you to earn great money from 5 min's trading. In my opinion, it is hard to for us to predict the 5 min's trends.I think long term trading is better than short term trading because it is easier to predict the long term trading trends. :cheesy:

 

[FringFX]

in a way, timeframes are relatively immaterial.
traders are polarized because this is a matter of perception.
lower timeframes comprise the higher timeframes and traders profit/lose across this time spectrum

 

[Atilla]

If people use charts and say TFs are immaterial - then what do you use for the x-axis?

 

[new_trader]

If people use charts and say TFs are immaterial - then what do you use for the x-axis?

Figure charts take no account of time or volume. They represent a movement in price but disregard fractional movements, they only record whole figures, not rounded up or down!!

 

[Atilla]

Figure charts take no account of time or volume. They represent a movement in price but disregard fractional movements, they only record whole figures, not rounded up or down!!

Fair dos. So those who say TF is not important, do they not use timeline charts at all and only use figure charts?

Are there any traders here who look at timeline charts and still hold the view TF is not important as I would like to know how one makes sense of the chart and time range speed factors etc.

I never got into figure charts but I think time and volume are important factors and excluding them feels like losing valuable indicators.

 

[Love 2 Trade]

The time frame is irrelevant as far as im concerned. A good trader should be able to trade any time frame from the 1 min to the monthly. I personally prefer 15 min and H1.

 

[Benj1981]

the best traders trade small TFs like 1 min and 5 mins, and novice tradeers/beginners trade daily TFs etc.

 

[rsh01]

i prefer the future time frame.

the past t/f sucks, unless you're a vendor & this is where the past t/f comes into its element. don't get me going on the present t/f though, its so last year.

 

[Shakone]

Just throwing a question out there. Do you think it's possible to determine the dominant timeframes for a particular instrument?

 

[rathcoole_exile]

the best traders trade small TFs like 1 min and 5 mins, and novice tradeers/beginners trade daily TFs etc.

WTF ??????????

you base this (completely 100% wrong) statement on what ?????????????????????

 

[rsh01]

Just throwing a question out there. Do you think it's possible to determine the dominant timeframes for a particular instrument?

is that a trick question?

 

[Shakone]

is that a trick question?

No. If for example you noticed that it regularly found support at a weekly low, or regularly took out stops above yesterdays high or below yesterday's low, you might be able to conclude that weekly or daily was a dominant/important timeframe for that instrument. Maybe not for another instrument.

Or say you can see something in the price behaviour that tells you 5 minute is important, but 4 minute or 7 minute is a lot less so. Is it possible? Wouldn't this be relevant to the question in the thread title?

Equally, if timeframes are irrelevant (as some say) then this would not be possible.

 

[The Leopard]

Just throwing a question out there. Do you think it's possible to determine the dominant timeframes for a particular instrument?

My own opinion is that time frame is irrelevant. The institutions that control the markets do not (I believe) care what is happening on a weekly chart or a 1 minute chart.

 

[The Leopard]

Equally, if timeframes are irrelevant (as some say) then this would not be possible.

It could be if what you were seeing occurred by chance to coincide with the picture painted on a given time frame. But the time frame you're looking at I would say is the picture or the result of the decisions taken by the institutions, not the cause of them.

 

[Shakone]

My own opinion is that time frame is irrelevant. The institutions that control the markets do not (I believe) care what is happening on a weekly chart or a 1 minute chart.

From what you've said, I guess that puts Market Profile and many other things time related on dodgy footing then.

GTTYNV

 

[angelnish]

It is personal... a very good piece of advice that was given to me once was:

Make trading suit your life, don't make your life suit trading.

Consistency doesn't come from trading in a way that doesn't match your personality, or it making you get out of bed early to check charts. It comes from perfect synergy between you and your trading strategy.

Hi,
Thanks for the advice dear.

 

[Atilla]

Just throwing a question out there. Do you think it's possible to determine the dominant timeframes for a particular instrument?

If one were to take profitable traders for that instrument and plot a normal distribution curve, then picking the mid point of the 95% bell curve, one might be able to draw some conclusion about dominant one.

Repeat the same exercise for losing traders and compare results.

However, as with all things there will always be variants and outliers.

 

[FringFX]

If people use charts and say TFs are immaterial - then what do you use for the x-axis?

timeframes (such as 1 hour, 5 minute, etc) are different from time.

i know people who use time in a big way; i also know a few people who do well in using 1 or 2 timeframes; i also know several who trade based on price alone.

 

[The Leopard]

From what you've said, I guess that puts Market Profile and many other things time related on dodgy footing then.

GTTYNV

I don't think so. When I say I think time frame is irrelevant, I don't mean that I think time-based charts are useless. They are just a way of displaying information, or perhaps I should say a way of viewing information.

I use time-based charts and nothing else and this approach seems to work really quite well.

 

[BabyBeauty]

Well, I too used to trade based on price alone. It really makes thing easy than anything.