Forex Chart Linear Regression
Forex Trading Products and Reviews



  • Home
  • About Us
  • Contact Us
  • Privacy Policy

The Real Money Forex Robot

Get A Forex Robot That Is Capable Of Doubling Your Money Every Single Month...Yes...Thats Right, You Got It...We Put Our Money Where Our Mouth Is! Click Here To Learn More.

Forex Killer

- Create Forex Signals Yourself
- Just A Few Minutes A Day Anytime
- Low Risk With High Returns
- The Best Home Based Business For Everyone
Click Here For More Info.

Forex Tracer

$335,000 Last Year?!" - Imagine, Using An Expert Advisor That Signals, Mines, And Annihilates The Forex Markets To Detect & Redirect Huge Profits into Your Trading Account.. . ... All On Autopilot... Click Here To Visit Our Site!

5 steps to profitable to info product creation
Get your Free copy today!
how to write your won lead pulling squeeze page
Get your Free copy today!

Click here to read more about FapTurbo!




Dec

13

Trading Forex Using Multiple Time Frames

Filed Under (General) by admin on 13-12-2008

forex course in indiaThis article describes why you should use multiple time frames if you want to become a profitable forex trader.
Many people use just one time frame to trade the forex markets, and if they are profitable then fair enough. However if you want to be a profitable trader, it generally makes sense to use two or more time frames when making trading decisions.

This is because if you’re basing your entries and exits on just one time frame, you’re oblivious to the wider trend and you therefore risk trading against this longer term trend, which is never a good idea. For example, if the 4 hour chart and the 1 hour chart of a particular currency pair are in a strong bullish trend, then it’s probably not a good idea to be looking for possible shorts on the 15 minute chart.
You should always look to trade in the direction of the trend and viewing charts from longer time frames helps to show this longer term trend. This is something I picked up from reading one of Dr Alexander Elder’s books a few years ago, and this piece of information was invaluable to me as it helped shape my current trading strategy.
I now trade the 4 hour charts using an EMA crossover system but only ever trade in the direction of the overall trend from the daily chart. So if the daily trend is bullish then I will look for EMA crossovers upwards and vice versa. This has stood me in good stead and ensured I’ve always made some decent profits from forex trading.

It’s important to remember that if you only ever trade in the direction of the longer term trade, then you’re stacking the odds in your favor, and your entry points are not necessarily so crucial. Many times you will be saved by the overall trend going in your favor.

For example, if you like to trade the 5 minute charts, then you could use the 15 minute and 1 hour charts as a basis for your trading decisions. So if the pair was trending downwards on the 1 hour and 15 minute charts, for instance, then a good strategy would be to look to go short when the pair is overbought on the 5 minute chart because the odds are in your favor that a continued downwards move will take place.

Similarly you could trade the 1 minute charts and use the 5 and 15 minute charts for guidance, or if you are a long term trader, you could trade off the daily charts and use the weekly and monthly charts for guidance.

Whichever system you use, I personally think you’re always giving yourself every chance possible to become a profitable forex trader if you use multiple time frames to help you trade in the overall direction of the longer term trend.

Click here to read James Woolley’s review of ZuluTrade and to learn all the latest tips and strategies related to forex currency trading.

By James Woolley
Published: 6/6/2008 

Relevant Posts:

Trading Forex Using Multiple Time Frames Posted By : James Woolley
Trading Forex Using Multiple Time Frames Posted By : James Woolley Many people use just one time f…   Read more…

————————————————————————————————————————————————-
FAPturbo , Forex-killer and Forex Tracer are the 3 Best Forex Trading Softwares available online today!
————————————————————————————————————————————————- 

 

 Mail this post
Add this to : Digg! Digg it Bookmark! Save to Del.icio.us Subscribe to RSS Subscribe to My RSS feed

Related Posts

    No related posts

Comments:

One Response to “Trading Forex Using Multiple Time Frames”

  1. Jenny on 23 Dec 2008 at 8:02 am #

    I found more here if anyone’s interested

Leave a Reply

  • Full Feed RSSFull Feed RSS

  • Recent Posts

    • Free Forex Trading System
    • Maximize Profits Using A FOREX Trading Robot
    • How to Get the Most Out of Forex Trading Systems
    • Forex Trading: Global Forex Traders Come In All Shapes And Sizes
    • Forex Newbies - Let Forex Robots Trade for You
    • Forex Trading Robots - How Profitable Are They?
    • Forex trading robots for newbies
    • Forex Trading Tools
    • A Guide to Choosing the Right Forex Trading Software
    • Some Important Tips about the Forex Trading
  • Recent Comments

    • KalayDeaway on Maximize Profits Using A FOREX Trading Robot
    • Make Money Over The Internet on Big Opportunities in the Forex Market
    • Reader on Maximize Profits Using A FOREX Trading Robot
    • khalsi on It Is Crucial For The Forex Trader To Learn How To Interpret A Forex Chart
    • Jenny on Trading Forex Using Multiple Time Frames


Other Articles

  • Acting Career
  • Apple Iphone
  • Autism
  • Bad Breath
  • Beach Vacations
  • Bullying
  • Carpentry
  • Cosmetic Dentistry
  • Criminal Defense Lawyer
  • Debt Management
  • Economic Recession
  • Gain Muscle
  • Glycemic
  • Golf Swing
  • Golf Swing 2
  • Greece Vacation
  • Hot Tubs
  • Iphone
  • Jiu Jitsu
  • Kidney Stones
  • Landscaping
  • Last Minute Travel
  • Learn Italian
  • Legal Help
  • Merchant Account
  • Mexican Food
  • Mexico Vacations
  • Mind Mapping
  • Moles Warts Skin Tags
  • Motivation
  • Online Degree
  • Paintball
  • Pet Adoption
  • PDA
  • Property Taxes
  • Public Records
  • Renting
  • Romantic Vacation
  • Security Cameras
  • Skiing Vacation
  • Skydiving
  • Social Networking
  • Solar Energy
  • Spider Vein Treatment
  • Stress Management
  • Tapestries
  • Web Video
  • Wine Tasting
  • Xbox 360

Categories

Forex Chart
Forex Robots
General

Recommended Moneymakers

  • Make Money Blogging
  • Make Money Online
  • FREE Autoresponder
  • FREE Blogging Videos
  • Reliable Hosting

Recent Readers

Blogroll

  • Blog Catalog
  • Forex Signal Dashboard
  • Forex Broker Demo Mini account Metatrader
  • Internet Traffic Strategy
  • The Site Rush
  • Restaurant Secret Recipes
  • Mouthwatering Food Recipes
  • Site Is Gold
Copyright FCLR.com © 2008. Theme Designed By Alvin Phang.
For More Free Wordpress Themes Visit Make Money Online with GatherSuccess
askgraphics