Forex Trading Charts

When you think about forex trading and charts, what comes to mind is that, what ever time charts you are in the principles are still the same. A 1 minute chart will be the same as the daily chart. What I found out last week while I try to trade intraday chart is that. It’s not always the case.

I trade successfully on daily charts and I love the freedom it brings because sometimes, I don’t have to trade everyday and I get to do something else. While I wait for the next candle stick, it will take another day. That is why when I tried trading on smaller time frames. I never got any profit.

I don’t know. Maybe its just me. I still follow my rules but the fact that intraday trading is a whole new beast than the other charts. I realize that if I really want to be successful in this. I need to master one chart at a time.

Many books claiming that their method are great on any charts. I don’t know. Maybe just my strategy is not that good. That is why I bought some books for reading. I’ll post some of the things I learned and tested once I finished reading the book.

  • Kim

    are these posts old entries?

  • tony

    Well, a strategy may work on all time frames but the trick is to find at what time frame the strategy would work the BEST. When you trade on smaller time frames, you will need to risk a smaller amount of money compared to trading in the bigger time frames. The risk reward ratio would probably be the same on the time frames but the difference would be on the number of pips. You would need to trade smaller volumes on the higher time frame and bigger volumes on the smaller time frame.