Your trading charts can be based on various time frames. Sometimes, those charts also based on parameters that have no relation at all to your trades, like the price range or a number of trades. You may think that choosing the best chart time frame, trading styles, or types of an asset from a number of available choices are difficult.
Yet, with a smart way of trading, you can choose them in a simple way.
Ways to Choose the Best Chart Time
New traders usually spend days, weeks, or even months to find the right time frames or parameters that can give them huge profits. They try five minutes of charts, 30-second charts, and so on. They also try other non-time based charts, like thick and volume.
Yet, many of these traders quit each of that time frame and categories based chart, once it failed to give them profit. Then, try it all over again, they assume that they may miss something.
The thinking that each trading technique has a one-time frame that can help them gain the most profit can direct you to a never-ending time frame search. Sadly, many traders do not realize this.
Ways of Professionals Traders Choose a Time Frame
Most professional traders spend only around 30 minutes to choose a time frame. They mostly choose a time frame based on their personality, not based on their trading system or the market they are trading.
For instance, those traders who have the tendency to make many trades during the trading day will most likely choose a shorter time frame. On the other hand, the traders with the tendency to make fewer trades, only one or two trades, in each trading day will choose a longer time frame.
These traders also usually switch their time frame if they trade more or less actively.
Why Time Frame is not Relevant to Your Trading?
You have to know that if you do not get profit from a certain technique or system, that is not the fault of your time frame. Rather, that is the fault of your trading technique or system.