I'm very new to forex and the list of things I don't yet understand is long but in particular I can't get my head around the concept of longer timeframes. On this forum I read traders describing the benefits of longer TFs and the one comment that always emerges is that using a 4H TF, for instance, is much more tranquil than using a 5M because you don't have to live on top of the computer and you only need to check it every 4hrs. Now these people are obviously experienced traders and know what they're talking about, but what puzzles me is this - no matter what TF you use the price is going to do what it's going to do so why should it be more relaxing to trade this way. I would have thought just the opposite. To me the thought of making an entry on a very volatile pair like GBP/JY and then not monitoring it for another 4hrs is the stuff that nervous breakdowns are made of.
Can anyone lighten my darkness on this
Can anyone lighten my darkness on this