Binary options usa automated systems15 comments
Introduction to binary options signals review
This is a very common question, frequenting popping up in the comment section of articles involving indicators, strategies or trading in general. In order to determine what time frame to watch on your chart, you must first assess how much time you actually have each to look at your charts. If you have a few hours during the day to dedicate to your charts, while major markets are open, then you have a few more choices. This time frame will give you the most trade set-ups for the time you have.
Trading requires well defined trading plan and strategies. So hopefully you have come up with or found a few strategies that you like. Likely these strategies are best applied to certain market conditions, certain times of day or to a certain time frame. Some strategies are easily adjusted to almost any time frame, while others will only work under specific conditions.
For example, there are strategies designed specifically for the few minutes surrounding when a market opens. Trying to apply such a technique during the middle of the day is likely to be a losing proposition.
Analyze your strategies and determine what the best time frame is for those strategies. Hopefully what you have time for section above and the time frame your strategy requires align.
The sections above hopefully helped you narrow down what type of time frame you should be watching. Ultimately though there is no perfect time frame that will suit everyone. Some traders are successful trading off tick charts , while others off 15 minute or daily charts. This is where I will throw you a curve-ball. Instead, look at two or three time frames. Short-term traders can view a 1-minute, as well as a 15 minute and 1-hour or 4-hour chart.
The 1-minute provides entry and exit signals while the 15 minute and hourly make sure the trader is acting on more complete information about the trend and support and resistance levels.
Swing traders and longer-term traders may focus on a daily chart, but can also use a weekly chart for providing a larger context for the trend and support and resistance levels. A a 15 minute for example chart can also be used for fine-tuning exit and exit points. What is best for you will depend on how much time you have which in turn affects what type of trader you will be.
Then you need to make sure your strategies are aligned with the amount of time you have, and your personality. This will provide you with more information about the asset you are trading, such as which way the short and long term trends are moving, and where important support and resistance levels are. What You Have Time For In order to determine what time frame to watch on your chart, you must first assess how much time you actually have each to look at your charts.
Your Strategies Trading requires well defined trading plan and strategies. No One Time Frame is Perfect The sections above hopefully helped you narrow down what type of time frame you should be watching. Looking at more than three time frames becomes cumbersome, and likely counter-productive.