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Thread: what is best chart for long term trading?

  1. #1
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    Cool what is best chart for long term trading?

    For a long time I was always interested in making the long term forex trading. Even now a days I prefer to look for the long term trading because we can just collect the huge money from forex market if we are just making the long term trading. In the short term trading we are just behind the short profit and then we think if we did not close the position we may be able to get more profit. But if you are long term trader so you will surely follow the monthly chart in order to collect the big money from forex market.

    I also always follow the monthly chart to get the full money which i have planned for the trading. Are you also long term traders? What are the effective things you follow while you are making the long term trading in the forex market?

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  2. #11
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    Quote Originally Posted by Lyon View Post
    The daily time frame is the least of the chart I make use of when trading and it works for me actually. The best knowledge I have gotten so far is that using the longer time frame like daily makes any strategy we want to make use of work for us. It is a profitable trading time frame actually and will make traders succeed and have discipline over how they trade.
    i Prefer trading with the long term chart because it affords me the opportunity to see the big picture of what the market is doing,scalping does not work for me as a trader i understands other traders make a lot from scalping but it takes a lot of time and energy.

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  3. #12
    Trader musiliu's Avatar
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    Quote Originally Posted by sharegistFX View Post
    I will suggest to any one with the interest of trading forex to have some good amount of money to start with, one have to invest good amount of money starting from 500 dollars, apparently, that can make us trade with patient and not with the mindset of making fast money. The chart I recommend will also be from at least 4 hour chart upwards.
    I don't think starting trading with a large some of money will translate to success, it is better to start with a all amount of money that you can afford to loss, but don't depend on forex for your basic financial need, until you become a pro and have a really large account

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  4. #13
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    Quote Originally Posted by musiliu View Post
    I don't think starting trading with a large some of money will translate to success, it is better to start with a all amount of money that you can afford to loss, but don't depend on forex for your basic financial need, until you become a pro and have a really large account
    It has never translated to success and most of all, it has made a lot of traders loss their money. The basic thing that traders has to learn is to know the skills and experience needed to become successful. The higher time frame will give traders upper hand to succeed the business. The long term is best always done on higher time frames due to it gives space for more analysis.

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  5. #14
    Trader famousfx's Avatar
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    In this question , this is varies from trader to trader, some may take their analysis form to or three time frames and conclude to make their decision, while some traders have to move round most time frame both in the lower and the higher , for me I prefer using the hourly , daily and weekly time frames to do my analysis for long term trading.for example H1,H4 daily and weekly.

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  6. #15
    Trader Silhouette's Avatar
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    Quote Originally Posted by adeelyaz View Post
    I also always follow the monthly chart to get the full money which i have planned for the trading. Are you also long term traders? What are the effective things you follow while you are making the long term trading in the forex market?
    So far I see from many traders who like to trade in long term, they use time frames start from H4 to Weekly because Monthly time frames seems too small too see and there are so many huge opportunities we'll miss during a month. Meanwhile, Daily time frames would work better and efficient because we can see how much movement market can create. We can also use smaller time frames but not less than H1.

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  7. #16
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    the basic strategies for longterm from newbie are as follows first of all choose a currency pair about which you have complete knowledge about its technical movements completely study its market chart and try to analyze its market trend buying or selling trend always trade with stop loss it will limit your loss

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  8. #17
    Trader cutiekc's Avatar
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    If we are long term traders, then we are in the right method of trading because it is the most profitable means of trading ever used, furthermore, I have been able to to learn and understand the business so I know that forex trading business is best done with the longer term frame, the long time frame is the best that I know that success can be made from.

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  9. #18
    Trader Silhouette's Avatar
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    Quote Originally Posted by cutiekc View Post
    If we are long term traders, then we are in the right method of trading because it is the most profitable means of trading ever used, furthermore, I have been able to to learn and understand the business so I know that forex trading business is best done with the longer term frame, the long time frame is the best that I know that success can be made from.
    So which time frames you actually using for long term trading? Some people got their idea about this while me, I prefer to choose and focus on Daily time frames. Unlike from thread starter which using Monthly chart to do this long term trading, I just don't feel I'm gonna like to use that time frame too because I think Monthly is very big time frame. Daily charts is more than enough for me to determine good entries and close the profit for days or even weeks.

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  10. #19
    Trader Coffee's Avatar
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    Quote Originally Posted by adeelyaz View Post
    For a long time I was always interested in making the long term forex trading. Even now a days I prefer to look for the long term trading because we can just collect the huge money from forex market if we are just making the long term trading. In the short term trading we are just behind the short profit and then we think if we did not close the position we may be able to get more profit. But if you are long term trader so you will surely follow the monthly chart in order to collect the big money from forex market.
    it sounds very easy when we want to do long-term trading. but that's just a mindset we know, very simple but very difficult to implement. many of the problems we must face first if we want to do long-term trading and the most difficult problem to overcome is patience. usually, traders can not withstand the patience to close the already profitable transactions even though they have not reached the desired target. if we are able to overcome this, I think we are able to do long-term trading well.

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    Registered user mohabbat's Avatar
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    Day chart and week chart is best for long term trading. If you want to do long term trading and also want to make profit from it then you have to analysis day chart and week chart. Day chart will give you idea like where market may reach and week chart will give glimpse of weekly market movement.

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