1、CHIFLEY ：Time period for foreign exchange novicesThe Forex time period includes 1 minute, 5 minutes, 15 minutes, 30 minutes, 1 hour, 4 hours, daily, weekly, and monthly charts. The time period listed here refers to the time it takes to draw a candlestick. This means that a new candlestick is drawn e
2、very minute in the 1-minute chart, and a new candle appears at the end of each hour in the chart. Figure, and so on.Before performing the operation, you should spend some time observing the performance of the market over different time periods. Pick only one currency pair and spend some time observi
3、ng its changes over time. When you do this, you will find some forms. Money pairs tend to be more volatile and turbulent in lower time periods. In the higher time period, many volatility is eliminated. You will soon discover that you can display one time period above another. For example, after open
4、ing a daily chart for any currency pair, you can open an hourly chart for the same currency pair. After opening the same data, you will see how the daily candlestick is made up of 24 hourly candlesticks. Similarly, the hourly chart candlestick consists of four 15-minute candlesticks, and each 15-min
5、ute candlestick consists of 15 1-minute candlesticks.Some Forex traders only focus on one time period and only trade on that period. Some people focus on a large number of time periods, but only perform transactions on one time period. Most people take a compromise, focusing on several time periods
6、and trading on a time period. Trading on a daily chart is an excellent strategy, but use hourly charts to plan your trades. Therefore, you can see the detailed price changes that occur during the day to create the daily basis for your upcoming transactions. Depending on what you see on the hourly ch
7、art, you may or may not want to trade on a daily basis. Focus on multiple time periods to create situations. Many people also choose to focus on more levels of time; if you find that the market is in a particular weekly trend, you may have to think twice before trading in the opposite direction of t
8、he daily chart trend.Should you trade on a faster or slower time period? It all depends on your personal preferences. Every trader has a unique personality. However, if in doubt, we recommend that you start with a slower time period. It will give you a less volatile trading environment, and you will have more time to correct your mistakes. If you start a scalp transaction in the first place, you may lose all the principal in a few minutes! But if you start by trading on a daily chart, you will have days or weeks to correct the problem and achieve profitability.
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