There are many different profession in the world which you can do in order to earn your living. But there is no guarantee that you will earn a decent amount of money at the end of the month. But if you look at the professional trader then you will notice every single one of them are trading the live assets and making a decent income at the end of the month. However, in order to make money from the forex market, you need to have very clear understanding of the forex market or else you will lose money only. The success rate in the forex market is pretty low compared other business in the world. In order to execute high-quality trades in the market, you need to follow strict trading discipline and trade the higher time frame just like the Singaporean traders. In this article, we will discuss which time frame you should trade in the forex market.
Daily time frame
The daily time frame is the preferred time frame for many forex traders in the financial world. The expert uses the daily time frame to identify the long-term prevailing trend in the market so that they can execute their orders in the market in favor of the prevailing trend. However, there are some traders in the forex market who often use the weekly time frame in the market to execute the orders but for trading such a high time frame you will need an extreme level of patience in the industry. Most of the novice traders in the forex market ignores the long term prevailing trend in the market and thus fails to make money. As a professional trader, you should always remember the proverb that the trend is your friend.
The 4 hour time frame
The 4-hour time frame is one of the most traded time frames in the forex market. Starting from the professional traders ending with the novice traders in the forex trading industry, every single one of them trade refers this time frame. But when you trade the live assets in the 4 hour time frame make sure that you use the price action candlestick pattern in the market. Price action trading strategy is considered to be one of the most reliable trading strategies in the world. The traders use the raw price movement of the financial assets and execute high-quality trades at the key support and resistance level in the market.
Best time frame to trade
There are many traders in the world who often ask this question, which is the best time frame to trade? To be honest there are no exact answers to this question as most of the expert in the forex trading world use multiple time frame analysis in the market. But if you look at the professional traders then you will notice that even though they do the multiple time frame analysis in the market, they tend to have their own preferred time frame on the market. So basically it depends upon your personality and trading skills in the market and based on that you should pick your preferred time frame to trade.
Summary: there are many different ways of trading the financial assets in the world. Among them, price action trading strategy is very much popular nowadays since most of the traders in the forex trading community use this price action confirmation signal to execute high-quality trades in the market. But when you trade the market make sure that you use the key support and resistance level since it will greatly improve your trading performance in the market.