Advantages of a large Forex timeframe
Newcomers to the Forex market believe that it is best to start their path as a trader with short time frames. They think that observing the formation of the candles on the one-minute chart allows them to catch the smallest changes in the market, which makes it possible to make more profits. But this, alas, is not so.
If you want the analysis data to be as accurate as possible, then use higher timeframes for this. So-called market noises are characteristic of short timeframes. That is, false movements that make it difficult to determine the exact situation in the market. After all, on the short-term timeframe chart, everything will look like consolidation. The large timeframe is devoid of market noise and it is easy to determine the trend movement, the state of patterns and figures, as well as support and resistance lines.
More profit means less stress
Using the scalping method on a 1-minute chart, a trader can get from one to several points of profit from one trade. The high frequency of transactions and an impressive profit force the trader to constantly be at the computer and monitor the state of the market, this, in turn, keeps him in suspense, which can negatively affect the health and subsequent trading results.
It is worth noting that when scalping, placing stop orders is limited, which can also lead to stress for a trader.
Of course, if you are using higher timeframes. You will be able to make deals with a lower frequency than when using short timeframes, but this makes it possible to place stop orders, avoid losses and get big profits with less worries and time spent on the computer. Why stubbornly follow every movement of the market and spread the profit drop by drop, if you can use stop orders, do other useful things and still get income!
You know the statement that from the outside it is always more visible. Therefore, when you move a little further, you evaluate the object or situation more objectively. So it is in the Forex market: large timeframes allow you to see what is happening in more detail, predict trends and analyze the situation in order to ultimately get a significant profit.