Best timeframe to trade?

Victorial

Active member
Forex and crypto trading involves predicting the rise and fall of the market values for a particular pair of coins or currencies. Traders use different time frames to predict the direction of the market. On a chart, there are 1 min, 5 min, 15 min, 30 mins, 1 hour up to the daily and weekly charts. However, this depends on the kind of trader you are.

I am not a day trader, nor a swing trader. I always involved in scalping trading and as a result, I use the 5 mins chart and 1 hour as my confirmation signal. This helped me to use the strategy to the fullest. Most traders believe using the 1 min timeframe is not reliable as the market is usually noisy and it will have a negative effect on the trader. There will also be no clear signal to use.

What is the best timeframe to use as a scalper or as a day trader and state your reason if any?
 

minenovo

Active member
I think any time frame can be useful as long as one has the appropriate strategy for it. Scalpers, for example, use 1min to 15 min time frames at most.
 

Sotherefore

VIP Contributor
A real crypto traders will not wait for a particular timeframe to trade but will always trade when there is a good quality signal that indicate a potential rise in the price of cryptocurrency for a better long position or a potential decrease in the value of a particular cryptocurrency for a short position, most readers may prefer to stay at midnight observe the movement of cryptocurrency because they believe that at midnight they will be able to predict how the markets will be in the morning. So it's depends on individual and what you want.
 

Good-Guy

VIP Contributor
A real crypto traders will not wait for a particular timeframe to trade but will always trade when there is a good quality signal that indicate a potential rise in the price of cryptocurrency for a better long position or a potential decrease in the value of a particular cryptocurrency for a short position, most readers may prefer to stay at midnight observe the movement of cryptocurrency because they believe that at midnight they will be able to predict how the markets will be in the morning. So it's depends on individual and what you want.

I am a kind of trader who follows the market carefully and it is always a good thing to be careful when it comes to trading cryptocurrency. I try to predict the price as much as I can and when I feel that the price will not rise, or fluctuate more, I tend to sell the coin. This is what I have been doing in order to avoid losses and make as much gains as I can. I am also trying to learn more about Market Cap to make better predictions. Unfortunately, the cryptocurrency market can crash anytime and this is one of the bad aspects of cryptocurrency trading. However, the charts usually help us to predict the crash. Any major fluctuations in cryptocurrency price can signal a major downfall of the market. These are some basic rules a cryptocurrency trader must know and this is what I have learned after suffering from losses.
 

Sotherefore

VIP Contributor
Since you are a cryptocurrency trader ,you should have an idea of how you can use the support and resistance. it is predicted that when the movement break the support then there will be a massive drop and as a result it is always a wise decision for you to place a stop loss just below the support, the same is also applicable to resistance. when a coin is able to break the resistance there will always be a massive breakthrough. all these things are some of the little technical analysis in cryptosystem that we all need to know, are you the one that is generating accurate signal for yourself without the help of anyone ?
 
Top