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So the 4 hour chart has many advantages over other timeframes, with one of the main ones being that you don’t need to sit in front of the charts for long periods of time to effectively trade it. Assuming that you’re placing trades based off the close of the candles, then you could quite easily manage by checking in on the markets just once every 4 hours. This is perfect for people that 1) May not have a lot of time available to sit in front of the charts. But also 2) For people that work during market hours. These days you can check up on your trade positions from your mobile phone, so as long as you can find a few minutes to do that throughout the day, then you’ll be able to trade this timeframe.
The 4 hour chart also has the added advantage of being able to trade multiple different assets. When trading on the lower timeframes, you have to pay close attention to your market, because you can see some very large moves take place in a matter of minutes. This doesn’t really give you the time to switch between multiple different assets, and so when trading the lower timeframes it’s generally recommended to stick to just a select few markets.
With the 4 hour chart on the other hand, it’s quite common for many hours to pass between trading decisions. This means it’s much easier to trade multiple markets at once, since you’ll have a large amount of time between significant price movements. In fact: When trading the higher timeframes, I would definitely recommend having a multiple different markets to choose from. Because these timeframes move more slowly, if you were to just stick to a single market then you may have to wait long periods of time between trade setups. But by trading multiple different markets on the 4 hour timeframe, you should be able to find a few great trade setups during a typical trading week.
Beauty Flow by Kevin MacLeod
Foreign exchange trading on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and, therefore, you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts. Past performance is not indicative of future results. The information presented today is not meant for use in live trading.
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