Friday, November 14, 2014
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Daily gold signals turning up
Timeframes
Hi all
They say that in trading you have to find the trading instrument that best matches your personality.
Over the years I have established that the best match for me is CFD's on Forex and Gold. In finding a match for your personality and your trading strategy the next and in my case the most difficult process is determining the correct timeframe to trade. Due to my own personal requirement to have multiple daily trades I have over the years wasted a lot of time trying to find strategies that work on shorter timeframes. The most effective timeframes that I have found is 4 hours and daily, irrespective the instrument traded. In order to match my personal need for higher frequency trading I now use my bots to open trades, set stoplosses and then I manually close single lots of the position based on certain criteria being met.
While the above strategy gives me the satisfaction of frequency and involvement it also appears to be quite profitable and smooths previous dramatic spikes and drop's in profit.
Have a great week.
Chris Wiggett