Many a trader trades everyday with the expectation of making reasonable income. as a trader have you asked yourself this question. What type of trader am I? a swing trader, intraday trader, or position trader because I know from my experience that the only way you can make money trading is knowing where you belong.
Having knowing this will give you insight about the time frames you will choose in chart analysis. As a swing trader your attitude to trade will be quite different from a position.
As a Day trader, I will strongly advise you to stick with charting formation such 5min, 15min, 1hr and daily chart. This will give you the overview of the trading range. If you are an intraday trader at least your attention should be more on 5min, 15min, 1hr and 4hrs. This will give you more information about the current trade.
Thanks
Happy Pips
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Having knowing this will give you insight about the time frames you will choose in chart analysis. As a swing trader your attitude to trade will be quite different from a position.
As a Day trader, I will strongly advise you to stick with charting formation such 5min, 15min, 1hr and daily chart. This will give you the overview of the trading range. If you are an intraday trader at least your attention should be more on 5min, 15min, 1hr and 4hrs. This will give you more information about the current trade.
Thanks
Happy Pips
