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Best forex timeframes for scalpers
Scalping is a trading style that involves identifying small price changes in the forex market and then buying and selling high volumes of currency over very short periods. By repeating this strategy over time, scalpers aim to build up a series of little gains that add up to a decent day’s profits.
Scalpers usually work within very small timeframes of one minute to 15 minutes. However, the one- or two-minute timeframes tend to be favoured among scalpers.
To action this strategy, you must choose a highly liquid currency pairing.
Buy into the market and watch the market movements, and use trend analysis to identify an appropriate entry point. You can then buy a certain amount of your chosen currency and wait for it to tick up very slightly within a one-minute window. Once it ticks up, you sell your holding and bank the profits, then start the process all over again. If it doesn’t tick up by the end of the one-minute timeframe, you’ll sell at a small loss before trying again to profit from a new one-minute timeframe.
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Last updated: 10/10/2023 22:13
depends on the trading style. for long term trade better check for bigger timeframe. for short term trade check for lower timeframe.
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Last updated: 10/16/2023 07:04
There is no best timeframe when it comes to Forex trading. The best timeframe will be the timeframe that is comfortable for you to trade. Lets say, if you have a 9-5 job but you try to trade on the 1 Minute, that is going to be very tiring where you need to keep checking the charts while doing your main job task. This is why there is no best timeframe.
A recommendation here, if you have a 9-5 job, it is better to trade on higher timeframes which automatically place you in the Swing trading category. You only need to check the charts once or twice a week and the position is going to be running for days to weeks. You dont need to spend too much time to manage your positions.
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Last updated: 10/17/2023 16:08