You should focus on risk first, not make-believe profits that will never come until you learn something first, apply that knowledge to a trading plan, test the trading plan, and finally figure out how to apply the trading plan precisely.

Generally, we use the longer-term charts to determine trend, whether daily, weekly or even monthly, then use the shorter term charts to find the intermediate term trend, like with the 30 min or hourly or 10 min. Then you might use the short term charts to find an entry point to trade with the trend.

Each trader has to determine his own time frame, whether a short term trader, swing trader, or maybe buy and hold. But nobody can buy and hold a leveraged position at 100:1 through 165 pips per days swings in the EUR/USD (that’s the average true range today). That’s a $2,000 swing in your account per day if you’re trading the daily charts on one standard contract. A dreamer hopes for profits, but a trader quickly values the risk.

Read as much as you can; 20 or 50 books are not enough. After you have developed a plan and traded 100 trades by that plan, you will see a pattern, and know whether to revise the plan or whether you can do it at all. If you don’t have a plan or can’t follow the plan, you got nothing.