hi guys,

back again looking for some more help if possible - feel a bit silly as this will probably be very basic for most of you guys but i am finding it difficult to get it clear in my head so here goes

when analysing a pair what timeframe should I begin with when using the system that Vahid teaches

i use 4hr, daily, weekly and monthly charts to work out what is going on with the market however sometimes i get conflicting signals and dont know which to give the most weight to

eg i have a breakout to go long on 4hr - candles formed buy signal - supported by bullish direction on 4hr, daily weekly and monthly, only conflict is recent bearish candle on daily - no strong buy or sell on daily
in this instance what would you guys do

i typically trade using 4hr chart but sometimes i am making errors
as a side note a good proporion of the trades have been succesful and I have managed to breakeven on most of the ones that go against me however i guess i need more guidance as i am getting a large number of breakevens or trades in negative territory for most of the duration

thanks in advance


regards
Pipman

I think that everyone makes errors
Doesn't sound like you are doing too bad though.



In your example, it seems that the main trend on the daily is up, so looks to be a good buy signal. Of course you may also want to take into account what the MACD and RSI is telling you. Also is the Daily or weekly just below what could be a resistance level such as bollinger middle or upper band?

Keep watching Vahid's videos and I'm sure that you will build your confidence.

Best of Luck

Keith

Pipman

I would need to look at charts to voice an opinion but if I am unsure then I try to keep out of the trade but note down what I would have done and then see what develops.

There are no silly questions, only people too silly to ask sensible ones From what you say above you are doing well! I rarely get out of bad trades at breakeven

All the best

Michael

thanks Michael and Keith

to clarify teh example used the direction of dailychart was bullish for maybe a couple of weeks but the last two candles were bearish, there wasnt a sell signal or anything like that and i think the existing candle was above the bollinger middle band though and was still forming was bullish candle

so do you normally look at daily chart first for getting trend before 4hr or the other way around - i tend to look at 4hr first and think this is what is causing me confusion as the formation will be sitting there though the daily chart may be unclear

regards

I always work down from the higher timeframes so that if I see a potential setup I already have the 'context' in my mind.

Michael

thanks Michael - i will experiment with the way you do it and see if it makes a difference


two other questions i have -

1 how many trades should i generally expect to find each week on the four hour charts applying Vahid's recommended system - currently i am finding in the region of 7-8 i guess on average each week - though i am definitely missing some whilst sleeping or tied up elsewhere. i also do not trade every breakout i see

2 i've come accross a few articles and read on forexoma also about people not trading on Friday's. could someone please explain the reason/logic behind this. Is this something that the majority of private forex inverstors do?

thanks to all again

regards
Pipman