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|Learn Forex Trading > Day 10 Class ( Multiple Time Frames ) > Time Frame Breakdowns|
|Time Frame Breakdowns|
There are three types of time frame: long term, short term and day trading|
And the choice depends on your personality
the first type is: The long term which means that the trader prefers using daily or weekly charts which means that weekly charts establish a long term that assist placing entries and prospective. It has two advantages one of them that you can gain from long term trading, so you do not have to watch the market every day. The second advantage is that it has fewer transactions; this means that you are going to pay less of the spreads. The negative points is large swings needs large stops, traders only trade about one or two times a year having a good trade, so you will need a lot of patience. If you owned a big account, it means that you need to have a longer term swings, and so you are losing several months as well.
As for the second type which is short term : traders use this chart which means that traders will have more opportunities for trading; they also have less chance of losing money. about Its negative side is the cost of your transaction will be higher because you have to pay more spreads. There is also a higher overnight risk factor.
The last type is the day trading which means that the trader uses one or two minutes charts which means that he has a lots of opportunity for trading and there is no overnight risk. about It's negative side is the transaction costs will be higher. This will be more tiring mentally since you are dealing with every day trades. Your profit will be limited only to a day to day basis.
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