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Thread: Some Guidace

  1. #1
    Hi, first post here. I have been studying Foreign Exchange for the last month. I'm impressed about the notion of being able to work in the home and make a huge sum of money (or even shed a lot). I am trying to formulate my own system and I come here for further suggestions and critque. .

    I am trying to understand how to trade with 1H, 4H, 1D charts.
    On my 1 hour and 4 hour charts, I use only the MACD collection at default and for the 1 day chart I use the RSI set at 14.

    Well first of all, if I use 3 distinct time intervals or adhere to 1? What indiors are typically used for positive profits that keep consistency.

  2. #2
    What if I set my EMAs, if I were to perform 15M/60M/1H? Can I really do short term transactions using those time intervals, or are those more towads medium tendencies?

  3. #3
    I Put this up...

    15 minute, 60 minute 4 hour charts...
    RSI Place at 14

    Im looking as to what If I Place my EMA High/Low too...

    I Also will mainly trade Eur/Usd and GBP/Usd

  4. #4
    Luke;
    I believe that as a newcomer you need to stick with bigger timeframes. They're more predictable and therefore simpler to trade. The time frames you've chosen (1H,4H,1D) are perfect to begin with and ideal for studying. Many beginners get burned when scalping utilizing lower time frames. You on the other hand can avoid that unpleasant encounter by sticking with periods you've chosen...
    Good fortune

    p.s. Three time frames are ideal and I would not see it with anything less...

  5. #5
    All these are my favts:

    1) Candle stick Patern recognition
    2) Moving Average
    3) Piviot Points
    4) Fibonachi
    5) Macd
    6)Stocastics

    To scarp

    1) Boilenger Bands
    2) RSi


    I Utilize multiple time frames, for day trading

    I Utilize:
    Daily, hourly, 15 mint

    As an Example trading
    4 hrdaily and weekly

    ~

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