New to Forex trading

[AyeYo]

Quote from Pippi436:

Ok, if its not the 'noise', why are you not able to trade the shorter timeframes then?

Of course, in the shorter timeframes the impact of the spread and/or commissions is larger. Other than that, i fail to see the difference (within reason, its easy to tell apart a 5-second chart from a 5 minute chart).

And you don't think the impact of the spread is significant enough to make them more difficult to trade? If you've got a standard retail account and you're losing 2 pips per trade, that adds up fast. Why play the 1 min for lots of small moves when you could be playing the 1 hour for larger moves with less commission loss?

Like I said, it comes down to style/personal preference. I was just giving mine.


But, for the hell of it (and since you mentioned it), post up some 1 min, 5 min, 15 min, 1 hour, and 4 hour charts we'll see if anyone can tell them apart (forex only, no stocks). I think I might be able to.

 

[cabletrader]

Quote from AyeYo:

You really have to love it to stick with it until you get it.

Yep, I agree with you there, but not easy to do if someone's losing money.

'Perseverance' is probably a better word, in the face of adversity!

 

[cabletrader]

Quote from AyeYo:

you're losing 2 pips per trade, that adds up fast. Why play the 1 min for lots of small moves when you could be playing the 1 hour for larger moves with less commission loss?

It's the cost of doing business, an overhead.

There are benefits to trading shorter time frames over longer ones.

 

[Pippi436]

Quote from AyeYo:

And you don't think the impact of the spread is significant enough to make them more difficult to trade? If you've got a standard retail account and you're losing 2 pips per trade, that adds up fast. Why play the 1 min for lots of small moves when you could be playing the 1 hour for larger moves with less commission loss?

Of course that makes it more difficult, but not because of the absence of trends (guessing that is what most people refer to as noise), or that the trends in smaller timeframes are inherently different from those in higher timeframes.

I can post some charts tonight or tomorrow. Its a bit unfair tho, i could cherry-pick so that its near impossible.

 

[AyeYo]

Quote from Pippi436:

Of course that makes it more difficult, but not because of the absence of trends (guessing that is what most people refer to as noise), or that the trends in smaller timeframes are inherently different from those in higher timeframes.

I can post some charts tonight or tomorrow. Its a bit unfair tho, i could cherry-pick so that its near impossible.

Or you could choose a pair, pick a random day/hour/min, and then post all the charts of that single time period.

We aren't playing for money, it's just for the fun of it.

 

[AyeYo]

Quote from cabletrader:

It's the cost of doing business, an overhead.

There are benefits to trading shorter time frames over longer ones.

For sure. I've always thought that the less time I'm in a position the less risk I'm exposed to. However, IMO, getting down into the <5min charts is really pushing the cost/benefit.

 

[TradeViper]

Quote from AyeYo:

For sure. I've always thought that the less time I'm in a position the less risk I'm exposed to. However, IMO, getting down into the <5min charts is really pushing the cost/benefit.

Shorter term allows you to play ranges better IMHO

IE, 5 min EURUSD short twice at 1.4978, long 1.4960 etc,etc,etc.


The Ever Doing What It Takes VIPER

 

[jim8z3]

Quote from Brabed:

The OP asks legit newbie questions. Why don't some of you guys try being helpful instead of being dickheads??

I couldnt agree nmore, people cant wait to tell you how wrong you are but never what to back it up with anything...

 

[Insane4Fame]

Man, what does everyone think about the new 10:1? Is this really going to happen? Do we all go overseas?

 

[Gcapman]

Quote from vanessa_cresta:

how about in other online trading? si the strategy or technique is similar? what if i am using HY Markets platform? any ideas out there....

The con artists are starting to come out of the forest

Watch out FXDC!!!