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Which time frame chart should i consider (15 minute, 1hour, 4 hour), if am looking for a profit booking 2 hour?
in forex trading not in stocks market,also mention the time periods i should consider while using MACD,Stochastic Oscillator,AROON,Relative strength index?
In my experience, using indicators are a waste of time. They do exactly what their name suggests; indicate. Try getting all the indicators off your screen and focus on the price action at certain times of the day, especially with the major pairs Eur/Usd Usd,Jpy. Also focus on round number 1.4400 etc. Good luck trading. : )
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LikeDislikeIn general, you’ll likely need to consider any time frame chart that’s 2-hour or less, if you’re looking to book a profit within two hours of trading
I cannot be more specific than that because the *way* you book that profit depends on your own trading strategy.
As for the time periods you should consider while using MACD, Stochastic Oscillator, etc., again, that depends on your own trading strategy.
There is an almost infinite (seriously) number of different trading strategies that can be employed using any number of technical indicators under any number of different time frames.
Furthermore, what works best for you won’t necessarily work best for me. That’s because we are all different traders, with different personalities, trading styles, and tolerances for risk.
And that’s the reason why the “holy grail” trading system – that “perfect” trading system that’s supposed to work for *any* trader that uses it – simply does NOT exist. It cannot exist because we’re different traders.
So the technical indicators you mentioned in your second question can be applied to *any* time frame. As to which time frame works best really depends on you.
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LikeDislikeif you want make some profit in 1 hour , I think you should try new method and software I.e Forex Mystery
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