Well, there is no such thing as the best time frame for Day trading, but to make money consistently like a day trader in the forex and stock market, there are few things you should keep in mind. If you have been following the SILENT TRADER channel for a while and have watched the best time to trade forex & video, you know not every market sessions are worth trading. For example, you can probably make more money by trading during the FAO & MCX session.
If you don't know anything about market sessions in NSE, check that video out and maybe subscribe to the SILENT TRADER channel while you are at it. If you trade stocks where the market is only open for a few hours, choosing the right time frame where you can book a profit before the market closes, can be challenging. Most indicators don't rely on a specific time frame, so they usually work on all timeframes the same way. But trading on a smaller time frame can create few problems.
When a new trader comes to the market two things. He's always confused about one is which is the best indicator for day trading second is which is the best time frame for day trading. He is always confused about those two things because there are hundreds of indicators available and as far as time frame. There are so many time frames available you can choose any time frame right which is the best indicator for day trading.
I already made one youtube video you can see this video's best indicator
for day trading which you can see on my youtube channel. Now here I am going to
discuss about the best time frame for day trading. You should remember that
there is no hard and fast rule when it comes to the time frame. Every trader has
his own time frame, every trader has his own favorite time frame but here I am
going to discuss about which is the best time frame for day trading & why
it is the best time frame for day trading.
Which time frame I use it and which time frame globally used by many professional traders so that all will be discussed when it comes to the candlestick. They say that the bigger the time frame of the candlestick more accurate the result is that means if you see a bullish candle on one-hour time frame and the same candlestick you will see it on five minutes time frame, they say that one-hour time frame is more accurate because it is the higher time frame. The higher the time frame higher the accuracy of that candlestick but I beg to don't believe in using one hour time frame especially for day traders.
For example in the Stock Market, there is a lot of noise on the smaller time frames such as 1 and 2 mins. Price action in the stock market is usually clean and good enough for trading even on the 1-minute timeframe, but since there are thousands of stocks available for trading, the results can vary from stock to stock.
Another problem with trading on the smaller time frames is the spread. Spread in the stock market can be a lot higher if there is low liquidity, but that can easily be fixed by looking at the liquidity of stock before trading. But in the Forex Market where many traders don't pay attention to the timings of the different market sessions, the spread can become a huge problem.
When a new market session starts, the spread can get big very quickly which can turn a profit into a loss. Trade on a smaller time frame, the noise, and the spread will make you lose money. Trade on a higher time frame and you will be stuck in a trade for a long time.
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