I find the 1h the best, even if you have a day job. I want you to do 25 trades per month, and around 1-2 per day max, so you are not a screen slave; we still hit our profit targets this way. I like any currency pairs including AUD, NZD, CAD eg USDCAD. Whatever time frames you trade the best way to mitigate losses is not just the trailing stop loss - see below more on that - and as one apprentice said, "When I have my 12 pairs up I now chose the timeframe in sync and it dramatically increased the hitrate."
But we found some trends were easier from our statistical analysis between 5pm-11pm UK time. What is UK time? Check Google if you are not in the UK for your region. This all may be because outside London market hours there is less volatility so smoother trends.
What we mean is see which time frame on that currency has in the recent past (past 3-5 signals) given the best correct calls. That is the time eg 15m or 1h or 4h the market is in sync with. When the market is wrong-footing you ie reversing as soon as we get a buy signal a couple of consecutive times, it means the market has worked out what traders are doing and is trying to profit from wrong footing them. In these circumstances I:
- Look for an in-sync time frame on this or another pair
- Pause from that pair completely
- For advanced traders only - advise them to consider the market in 'inverse' and outsmart it by doing the opposite, ie sell on a buy and buy on a sell indicator. (For advanced traders only and I teach you this in the 12 week course as you progress, so do not worry about being wrong-footed).
- For ‘in-sync’ look to see on any time frame have the waves been picked up by the signals in say the past 3 trades