Choosing the right timeframe to execute your trades is really important and also super hard because there are hundreds of timeframes to choose, ranging from minutes to days and weeks. If you’re still struggling to figure out which timeframe is the most suitable for your trading styles, check out the following tips on choosing the most suitable trading timeframe:
You have to decide which exact time frame is for you. This comes from trying to figure out different time frames across different market environments, recording your results, and analyzing these results to find out what works for you.
Once you have found your favorite timeframe, go to the next higher time frame. Then make a strategic decision to go long or short based on the direction of the trend. Then go back to your preferred time frame (or lower) to make a tactical decision about where to enter the order, to execute the order (where to stop and hit the profit target).
Adds the dimensions of the timeframe to your analysis, giving you an edge over other narrow-sighted Forex traders who only trade on a single timeframe.
Train yourself to look at multiple time frames when trading. When you get used to the view, you’ll have a better look at the market.
Make sure you practice! You don’t want to get caught up in the heat of trading without knowing where the time frame button is! Make sure you know how to quickly switch between them. You should even practice having a chart containing multiple timeframes at once!
Choose a set of timeframes that you will watch, and focus only on these timeframes. Learn everything you can about how the market performs within these time frames.
Don’t look at too many timeframes, you will be overwhelmed with too much information and your brain will explode. And you will end up with a messy table where there will be blood splattering all over the place. Attach two or three timeframes. Anything more is overkill.
We cannot stop this until: There is a strategic vision. Using multiple timeframes resolves conflicts between indicators and timeframes. Always start analyzing the market by going back to the market and looking at the big picture.
Don’t believe us? Find out what other traders have to say about choosing the best time frames to trade. All of them had to go through a lot of trials and errors to pick for themselves the most suitable forex timeframes.