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Thread: Trading for living only using daily charts or higher...

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    Default Trading for living only using daily charts or higher...

    As I start learning to trade, I see, recognizing trend and trading using a daily chart to be much easier than trading with 1 hr chart or lower. Clearly, this would mean less pips compared to day trading. I was wondering, is it practical to make a living out of trading just by trading daily charts. For a minute, if we assume this is possible, practically, you would be spending an hour or so, every day to make a living

    Appreciate any inputs from the senior traders in the forum and others who might already have achieved it.

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    In Profit Master's Avatar
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    I think you can gain a lot of pips in long term trader

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    trade with one hour chart , still high risk i think.
    but some times i use one hour chart to trade.

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    Quote Originally Posted by skyhit View Post
    trade with one hour chart , still high risk i think.
    but some times i use one hour chart to trade.
    Best frame for long term trade is 4hours or daily frame

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    capital need to be big or you need a very good money managemnent... im still struggling my way... although i know this

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    Director of FXOpen Aus FXOjafar's Avatar
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    For plotting the trend I use 4H and Daily charts, then mostly 15/30M charts for intraday trades, and Daily charts for Swing trades.
    Jafar Calley - Director
    FXOpen AU Pty Ltd
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    http://www.fxopenaus.com

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    Piplet neoseeker's Avatar
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    for me the best TF is 1hr, its more accurate for prediction..

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    24hr market. nothing to afraid of. I have try many time frame from minute to daily. For me, if you have nice and powerful eyes you can go to 1 minute but if you lazy like me, daily is the best choice

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    FxIndia Administrator Invest_Master's Avatar
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    Well I like to go with 30 min chart as I like to have short positions.
    but if you like to go with long term positons then you should go with 4 ours or daily.

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