1 Min Charts, any use of them at all???!!

Discussion in 'Strategy Development' started by donaldduck3419, Apr 24, 2003.

  1. Here's the thing, I use 3 min charts as my main system to find entry/exit points. But, lately I have been trying to integrigate using the 1 min chart to help me find more accurate entry/exit points for the 3 min chart. Although so far, no luck whatsoever, only lots of noise!

    So, is there anyone here that finds the 1 min chart usefull, if so, how do you use it? Or is there anyone who know where I could learn how to use it correctly??

    Thanks.
     
  2. Brandonf

    Brandonf ET Sponsor

    3 minutes is too small of a timeframe to try to find a setup and then get an entry on the 1 minute. Both of them are basically scalping (entry) timeframes. Expand your timeframe and then you will find the one minute chart plenty useful.

    Brandon
     
  3. I use three time frames, 13 min, 3 min, and 1 min. 3 min is just my main one, i hae been able to use the 13 and the 3 min charts together successfully, but no luck with the 1 min.

    so i started to wonder if there is any use to it at all, all i see is noise, instead of warnings and indicators.
     
  4. Brandonf

    Brandonf ET Sponsor

    Look for a bigger continuation pattern, then go to the 1 minute or tick charts for micro reversal patterns. You should have good luck with that.

    Brandon
     
  5. It depends on what you use charts for I guess. I just want to see the trend for the day and significant highs and lows. I have a lot of charts up and use 1 minute for the first 45 minutes of the day, then 2 minutes for a while, and by lunch time I switch to 5's. The spoos and the tape are more important to me than the chart itself.
     
  6. i like to identify higher highs and lower lows and i find the 1 min chart excellent for identifying all the pivot points.
     
  7. I have had pretty good success using a 1 min chart for entry on the NQ. I use a 14 period CCI and use the 0 line cross as my entry trigger. It must be with the trend of the 5 min. macd. The 14 CCI must be above or below the 0 line depending on your direction for at least the first 1 min print. This works better on the NQ than the ES. I use 2 contracts and exit one after 1 point gain. Once in the trade you can often hold a runner through the longer term trend if it holds. I will exit with both if the CCI turns back through 0 for a full 1 min print. A 3 point stop is the widest I use. These 0 line crosses with the trend have a high success rate. I don't trade the first 10 minutes very often. I also use 5 and 13 min charts. I will often scalp with this 1 min CCI 0 line cross in a non trending market but it is a great entry signal for the bigger trend also. I like it because it is a decision free entry tool. Either you have the signal or you don't no guesswork. There are those days that nothing works. Then I just sit on my hands. I am probably a bit more trigger happy than some traders but this method is actually stopping me from taking those stupid counter trend trades and then those revenge trades after the first 2 counter trend trades failed.

    Happy trading all ... Nas
     
  8. I find that I will see entry and exit points in whatever chat that I use most of the time. In other words, if you train yourself to see high probability entry and exit points in 3 min charts, then 1 min charts will look confusing to you.

    I use 1 min charts most of the time, so I will see the high probability moves in the 1 min charts before I will see them in the other time frames. Typically, I will see more "M" and "W" patterns in the 1 min charts than I see in the other time frames. I use the 5 min charts to better identify the overall trend.

    Use whatever time frame that you have the most success with. If you change time frames, you will have to retrain yourself to see the high probability setups in the new time frame.

    Charles
     
  9. I use 1 minute data probably 80% of the time ... because I'm a scalper.
     
  10. alanack

    alanack

    What do you scalp?
     
    #10     Apr 25, 2003