Commonly Used Trading Systems

Many experienced traders practice forex trading by taking advantage of several time frames and succeed in making profits. However, novice traders are often confused because of the difficulty of determining which time frame should be used as a reference for execution. By choosing the correct time frame, traders can adjust to what style the trader trades. The following trading systems are commonly used by traders:

Trader With Scalping System

Traders with this scalping system usually use short time frames, to open positions or close positions in just a few minutes. This trader tends to play with M5, M30 time frames.


Day Trading System User

Day trading, usually these traders open positions and close positions on the same day. These traders usually tend to play with time frames of 1 hour, 4 hours or 1 day.



Swing System User

Traders who use this swing system, traders can open and hold trades for several days, weeks or even months. So, therefore the time frame used ranges from H4 and up to W1 and MN. Each trader can trade using one time frame or more. Low time frames are usually considered to contain too many disturbing fluctuations, while higher time frames are considered to better represent the overall price trend. Efforts to choose a time frame in forex also consider these factors.

After selecting the time frame, what else needs to be done? In forex trading, choosing a time frame is just an intro, aka the very first step before technical analysis. Henceforth, traders need to identify where the support and resistance are in the price movement of each currency pair.

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