From my point of view I think most traders chose day trading because they are able to see the moves more easily, but as you'd put in more time to the market you'd eventually want to switch to longer time frames, 4hr and daily, typically because of stresses and emotionally worn. Iâd prefer to trade the 1hr time frame when volatility is high and switch to longer time frame when volatility is low; itâs just my ability to read the chart in different market condition⦠Itâs more likely up to a traderâs option on the time frames and how they feel comfortable to trade with⦠sg20
I use them all, monthly, weekly, daily, 4 hour and 15 min. I do most of my work from the daily and 4 hour and just use 15 min to monitor the intraday moves of the markets I trade. If I could only ever have one chart it would be the 4 hour.
4hr charts is my latest choice. IT is like a compromise between intraday and short term trading. Alex
If you're trading intraday, then apart from a chart timeframe its important to trade during the hours when there is the most liquidity. I like to trade GBP and EUR and i find these times useful: 8.30 to 10 am GMT 12.30 to 5pm GMT. All other times its too choppy intraday.
i find the MONTHLY time frame useless, not unless youre going trade long "VERY long" and of course have enough for margin.