What time frame to choose?
. Have you noticed that the more choice you have the harder it is for you to make a choice? I know it is true with me! And with choosing time frames it is just the same. There are simply too many choices to make. That is why it is easier to just give up and never-ever trade.
I am of course joking! I could never give up trading. But choice of time frames is a difficult and important question.
Have you noticed that when the new-comers first roll into the markets they often fail? Why? Well, of course because of lack of experience, but also because they simply do not know what time frame they need to trade in the first place.
Some start with 15-minute or even 5-minute chart. And that is simply too fast for a newbie, I can tell you that. And as you get more and more experienced your first choice – 1-hour chart might become too slow for you.
It is not only experience that we are talking about. A trading buddy of mine does not understand how I can trade 1-hour chart although it seems perfect for me – it is not too fast, not too slow and is not overloaded with signals and oscillators. But he… he can only trade monthly or weekly [if he is in the mood for a ‘fast one’ in his own words] trade.
So. What died your choice need to depend on. Well, I can tell that it is only your personality that can tell you what time frame to choose. And how can you understand it before paring losses in the field? Well, that is what demo accounts are for. You can not only learn to personalize your platform for yourself but also understand what time frame was created just for you!
Try it! I highly recommend to trade only with demo for some time as you come to the market.