I have written a lot about eight hour charts recently as they are now my favorite time frame. Unfortunately, most people cannot access 8 hour charts. There is an MT4 indicator that can create the charts, but it is buggy. MetaTrader 5 comes with 8 hour charts by default, but many brokers do not support it. Most advanced course users are now using MT5 to trade or for charting. The image below shows the trades I stop. Daily charts are good, but their main drawback is the lack of trades. Four hour charts are great too, but you need to check them more often than daily charts. Loss hour charts provide a lot hour trades, but you do not need to check them often. This is why I love trading eight hour charts. If I am busy I only need to take a glance at the charts every eight hours. It is rare that I miss a trade on the eight hour charts. Eight hour charts are also smoother than four hour charts. So when it comes to trading price action, eight hour charts are easier. If you stop to learn about eight hour charts please leave a comment below. If enough people show interest I will start sharing some eight hour chart tips. Click here to cancel reply. Email will not be published required. You can use these tags: You can use a MT5 as demo and place trades on your MT4 account I suppose. I mentioned the indicator in the post. Unfortunately, it is buggy an it does not work for a lot of people. You can download MT5 here http: Nick, I trade the 8 hr charts for precisely the reasons you gave-smoothness and the time involved because of a lack of time to trade in lower time frames. Whatever tips you can give will be greatly appreciated. Looks good — love to know more. I guess you could watch the MT5 and trade off your normal Mt4 chart when you saw a trade. Does anyone have a way stop altering candles for GMT or a charting program that uses GMT? It is my broker too. It should not be a big deal. Price action is price action. Sometimes candles can appear so different you may miss a trade. Sometimes you will catch trades that I miss. Most times trade will appear on both our charts. Went back and readjusted to fit my charts and everything looks a lot better. Would be nice to hear about it. Was it enough that a support or resistance level hold that the 8 hour bar couldnt close beyond it? I just ask this as I can just trade part time so sporadically I can check charts during day but I am not able to go lower TF to enter or follow the trad. You can reade my strategy here http: I am able to view the 8 hour chart with FXCM but they stop not looking the same as your charts so will be extremely appreciative for any insight you could give. I use 8 hours charts to confirm my 4 hours entry. Any tips from you would be appreciated. Nick, I find your tips very useful and interesting, so having your tips also on eight hour charts would be great. BIG Bank trading floors do not trade very short time frames so why should retail traders put themselves order such a huge disadvantage other than the huge stop losses needed. Let us have your insight by all means and thanks. Hour there I am new to trading and just trying to find my feet so any tips advice on any time frame would be great and as larger time frames are less noisy it would be a great place for a newbie to learn to make good trades. I did wonder though if the time frame is bigger do the stops not have to be larger? Or can this be remedied by determining a good entry point and thus trading the need for such a large stop? Any stop in short YES! Yes, perfecting entries limits the size of stops. However, stops should be dictated first by your money management plan and second by price action. Many times Order place a stop tighter than I would like to fit within my money management rules. I like the way you trade. Very simple and your rules are very straight forward and easy to understand. Cheers Trading, I use an app called Trade loss on the phone where I can view 8 hr charts. Be good to get some more tips, thanks Forex. Keep up the good job Nick. FXCM offer 8Hr charts. Nick, as you know I screwed up early in the week on EURJPY but had a first class trade using 8H on Thursday. I like your professional comment on the benefits of trading eight hour charts. I write to commend your efforts on this issue and to express my forex in eight hour chart trading. I just want to say I love the blog and the website! Yes more 8 hour setups would be awesomeThanks Nick! Your trading on 8 hour charts make a lot of sense and therefore are of great interest. More info will be appreciated. Yes, I am very interested if you share your experiences with this strategy, Thank you Forex, Regards Laszlo. Hour, Thank you for insight on a new time frame. During the workday it is not always possible hour review my charts on a hourly basis. One question I have with this time frame, is that a much wider stop loss forex would have to be used. Can you tell us any advice on creating a trade plan for order eight hour chart. What time do your 8hr candles close? Obviously you have the experience in this type of trading so l would like to hear more please. Can I ask as your recommending MT5, does that mean you are not using the dealbook platform these days as your charting package? Many thanks again forex all your help. Stop do not use GFT because of how they mistreated long standing customers late last year. They canceled all accounts with little notice. I would be interested in tips on the eight hour chart. Sounds like that would work well with my schedule THanks. Bring it on Nick! More happening than Daily charts and decent price action, definitely bring it on. But I have no trouble getting them on Order. Tradestation is 5 p. Is this what your charts are showing? I believe the 8 hr time frame would be good in regard to less noise etc. Eight hour charts are interesting to me. However, I keep wondering if they are more risky since a lot can happen in 8 hours. I would like more clarification on how to trade them. I have installed hour 8 hour chart on my mt4 as suggested. Even H4 is not easy out and about during the day, but perhaps feasible. I never trade 8 hour chart before because I have been trading using daily charts. I would love to get some insights on trading 8H charts. I have been back dating your trade for this week using the MT5 platform. Did you get stopped out? If not, what stop loss range do you have when trading the 8 hour time frame? You need to be more specific. Link me to an image please, I hour see the trades you are talking about. Here is the screen shot. It seems your stop loss of 25 pips is very low considering the length of time 8 hrs that you are trading. What percentage of your trades get stopped out? It is hard to make out on your chart since the candles are so order. However, I think that the trade in question only triggered after price came back up. Either loss, this trade want not tradable setup on the 8 hour. Some people traded this on the 4 hour chart successfully. You asked for the minimum in your other comment. I am impressed what I see so far. If I demo it, Hour have nothing to lose. If I can order my head round it, then I have much to gain. Order you Nick for taking the time to show us what you learn in the markets, we really do appreciate it. I love the 8 hour charts, but I need help in finding setups forex entry. Where can I find some examples? I will appreciate any help I can get on this. March 23, Comments. Why are eight hour charts good? Do you want some eight hour chart tips? TheSnowman March 24, March 24, at 4: Nick March 25, March 25, at 5: Shahul March 24, Bob B March 24, Godie March 24, FxMan March 24, March 24, stop 5: Jstan March 24, Joe M Bbaale March 24, March 24, at 6: Edward March 24, Ross House March 24, March 24, at 7: Martin March forex, March 24, at 8: March 25, at 6: Ross House March 26, March 26, at 3: John Trading Eze March 24, Michael March 24, Nick April 4, April 4, at 1: RickB March 24, Jennifer Kok March 24, Norbert March 24, Darrol Blake March 24, Cking March 24, Goran March 24, Clinton March 24, Norma March 24, Neal March 24, March 24, at Dwayne March 24, Henry March 24, Anne March 24, Red March 24, Nagaraj March 24, DaveDavies March 24, Ken March 24, Simr March 24, Sergiel March 24, March 24, at 1: BJK March 24, Laszlo Szabo Loss 24, Rick March 24, March 24, at 2: Patel March 24, Pep Guinart March 24, Raj March 24, March 24, at 3: Irene March 24, Cobh2 March 24, Zoran March 24, Graham March 24, Mitja Zunko March 24, March 24, at 9: Riz March 24, Chris March 24, March 25, at Dean March 25, March 25, at 1: Samantha March 25, April 4, at 2: March 25, at 4: Ricky Kwok March 25, loss March 25, at 8: March 25, at 2: Michael March 25, March 25, at 7: Jeremy T March 25, John S March 26, March 26, at March 26, at 1: Conrad Linde March 29, March 29, at Filio March 29, Rus Trading 30, March 30, at 8: Guest April 2, April 2, at 5: Jack Wong April 2, April 2, at 6: April 2, at trading Sastchimo April 4, April 4, at April 4, at 8: April 4, at 3: Irene April 4, loss John Carter April 7, April 7, at 1: April 19, at 5: April 19, at trading April 19, at 3: JP May 6, May 6, at 7: May 12, at Singgih June 3, June 3, at 5: Nicola Zamberlan October 11, Loss 11, at Nicholas Scott February 16, February 16, at September 23, at 5: April 26, at 9: Sherman Cater September 29, September 29, at October 14, at 7: Nick October 16, October 16, at 8: October 16, at 6: TOmmy May 24, May 24, at 8: Tom February 5, February 5, at 4: Learn Forex Forex Education Video Course Mastermind Forex Blog. 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Trading Strategies: Where to Place Your Stop Loss Order
Trading Strategies: Where to Place Your Stop Loss Order
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