This is a question many new Forex traders ask, but the answer is not as simple as the question.
The best time frame to trade when Forex trading can be down to what each trader is comfortable with.
If you know how to trade Forex correctly you can trade any time frame, from the 1 minute chart, up to the monthly chart. My preferred time frame is the 15 minute chart, but a lot of price action Forex traders like to trade the higher time frame charts, 4 hour and daily mainly, and 1 hour occasionally.
There are pros and cons to every time time frame. For example, your stops and your profit targets will be much bigger on the higher time frames, and the trades will take longer to set up. You can sometimes wait a few days for a set up on a 4 hour time frame, but the same set up on a 5 min chart will come around many times throughout the day. The smaller time frames are more profitable in my opinion, as you can take more trades, and your stops are much tighter.
How reliable are the set ups on the smaller time frame charts?
The price action strategies i teach work on any time frame chart, but a lot of Forex traders only trade the higher time frame charts, as they think that the set ups are less reliable on the smaller time frames. This is a myth, if you are trading advanced price action, the way i teach you to trade, you can trade on any time frame, and the set ups are just as reliable.
The only thing you have to be aware of when trading the smaller time frame charts, is high impact news. If you are trading 4 hour and daily charts, then a news announcement will be less of a problem to a trade on that time frame, but on a 1 minute, or a 5 minute trade, you will more than likely get stopped out by a news announcement.
So if you are trading the lower time frame charts, do not trade them when news is imminent. I have an economic calendar on the home page of the site, which shows the latest news announcements for each country, and their potential impact on Forex prices. If you bookmark the page you can come back throughout the day to check on what news is coming up.
Can your price action training course teach me how to trade the smaller time frame charts.
Yes if that is what you want to do. My Forex training course will teach you how to trade any currency pair, on any time frame, at any time of the day or night.
Any professional Forex trader worth his salt should be able to trade any time frame. If you are paying good money for Forex training then you should get what you pay for.
All my students agree that what i teach, is worth far more than what i am charging for it, but i have to be realistic with my pricing. I try to make my training course affordable to the majority of successful people, that wish to learn Forex trading.
I am not really interested in teaching my stuff to the world. I am just looking for a select group of traders that can all trade together, and help each other achieve their trading goals. Forex trading is not an easy job, but if you have a good support network around you, you will do very well indeed.
So if you are serious about learning to trade Forex, and you wish to be part of my group of successful traders, please give me a call or drop me an email. I currently have 2 spots available for my one to one training and mentoring program. When they are sold out i will not be taking on any new students until August or September 2013 at the earliest. My Forex training course is sold on a first come first served basis.