what is best chart for long term trading?
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Thread: what is best chart for long term trading?

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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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    Rookie Lyon's Avatar
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    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.

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    [lang=de]D1 and W1 is best chart pattern for long term trading. Long term trading is kind of risky. You won't get profit by doing long term trading unless you have good amount of capital. Capital matters a lot. So manage big capital if you have decided to do long term trading. Big capital is first thing which you will need to do long term trading.[/lang]

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    Even in long term trading, we still have some trading that are focused on more longer time period. But to answer the question most long term traders tend to use the H4 and D1 time frame for trading. I hardly see people trade time frames larger than D1, although they may use them as a way to analize the market and observe important chart partterns on them but the trading are mostly done on H4 and D1 time frame

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    It is possible to use the four-hour Chart or the daily chart for long term trading . But working on the monthly chart is very difficult. This needs time periods that may last for many years, and this is very difficult and impossible for the daily trader where he needs a very large capital and takes very long periods of time to last for years.

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    There are different styles of long term trading, the style you choose depends on how frequently you want to be getting entry signals and how long on average will have have an opened position. Typically, long term trading needs a minimum of 1hr timeframe to make analysis but depending on what you want exactly, you might use 4h, daily, or even more.

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    chosing the best chart currency for trade that I recommend to trade using major currency that because for trading the major currency have lower spread than the other currency...It is very important to have a good strategy in which you can trust. I got a strategy we trust. I make a profit of 10-15% per month but am very pleased. If aincredere in your strategy will soon intervene fear and everything is falling apart.

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    Registered user techboy's Avatar
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    Quote Originally Posted by Tanjina View Post
    [lang=de]...You won't get profit by doing long term trading unless you have good amount of capital. Capital matters a lot....[/lang]
    While it is true that capital matters in trading but bigger or smaller capitals dont matter what time frames we are using, it is how good the trader that can make profits in his trading that matter most, while there are many trading opportunities in the lower time frames but it can also be an account burner if you are not yet skillful to trade properly in this market, trades in higher time frames may not be that often but you can also get bigger profits in just a few trades.

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    Rookie Lyon's Avatar
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    Quote Originally Posted by techboy View Post
    While it is true that capital matters in trading but bigger or smaller capitals dont matter what time frames we are using, it is how good the trader that can make profits in his trading that matter most, while there are many trading opportunities in the lower time frames but it can also be an account burner if you are not yet skillful to trade properly in this market, trades in higher time frames may not be that often but you can also get bigger profits in just a few trades.
    You are right, but to some extent, because when we are making use of little capital as $50 then we need to look for the cent account because such amount of money can only be used with cent account, else we will be using standard lot which will make us loss the money all, unless we are lucky to have winning for a long time to increase it to $100 dollar which can stand the standard account risk.

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    Quote Originally Posted by Lyon View Post
    You are right, but to some extent, because when we are making use of little capital as $50 then we need to look for the cent account because such amount of money can only be used with cent account, else we will be using standard lot which will make us loss the money all, unless we are lucky to have winning for a long time to increase it to $100 dollar which can stand the standard account risk.
    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.

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