Anybody trading that 5m chart for more than 80% of their trades?

Discussion in 'Technical Analysis' started by easymon1, Jul 4, 2020.

  1. Dustin

    Dustin

    Yep, 5 minute.
     
    #11     Jul 4, 2020
  2. 3 minutes seems to match my comfort and risk parameters.
     
    #12     Jul 4, 2020
    comagnum likes this.
  3. SunTrader

    SunTrader

    4 minute for various reasons. Mainly cyclical. Helps also most others don't use it.
     
    #13     Jul 4, 2020
    athlonmank8 likes this.
  4. ValeryN

    ValeryN

    I've had my longest discretionary winning streak of 30 something up days in a row using 5min +daily.
     
    #14     Jul 4, 2020
    murray t turtle likes this.
  5. I have NEVER made a trade without at least consulting the 5 minute chart. It is the most used, and I want to see what everyone else is seeing because everyone else drives the price action, not my little $1k positions. HOWEVER, I also usually look to the 15sec, 30sec, or 1 minute chart to pick my entry at a dip or as close to a dip as I am going to get. That usually shaves a couple cents off my entry. Hey, two cents and 100 shares is two bucks and why start out with a $2 handicap? Ditto the exit if I am not in a hurry but just need the cash standing by for the next trade. I also nearly always look at the day and hour charts if not pressed for time. If a stock is trending up on every time frame from a minute to a day, I feel pretty good about going in. This for trading the trend. Trading a pattern such as the bull flag play, I am not as concerned of course with the trend outside of the last half dozen candles.

    My current platform goes all the way down to one second candles and up to one month candles. So it is more versatile and capable than the brokerage or my internet connection or my mouse finger or ENTER key. Not much use, the one second bar, except it makes nice moving averages or bollinger bands whatevah. Instead of 9EMA at 5 minutes, I can go 200EMA on one second candles and the perspective is a lot different.
     
    #15     Jul 4, 2020
  6. Why not add another monitor so that you can add more time frame? A 34 WQHD monitor only costs around $500.
     
    #16     Jul 4, 2020
  7. I got a 60" but not using it right now. Here is an old screenshot.
    Screenshot from 2019-10-08 14-39-01.png
     
    #17     Jul 5, 2020
  8. wartrace

    wartrace

    I am a short term futures trader and use a 4 range chart. I do keep up a 1 min and 30 min chart for perspective. I prefer the renko style however the footprint type chart doesn't work as well as the range charts.
     
    #18     Jul 5, 2020
  9. VicBee

    VicBee

    Interesting information. As a new dayish trader, with no training or mentoring from an experienced trader, I started and stuck to the 1 mn pulse and occasionally expand to 1 and 5 days to put things in perspective. But I suspect the type of trading and the stocks will affect the choice. 95% of my trades are Tsla, which is particularly volatile and subject to sudden $5-$15 swings in minutes. If I want a break I set my brackets and get off the screen for a while, or until the alarms trigger.
     
    #19     Jul 5, 2020
  10. TRS

    TRS

    Do a search for “Period converter” at Forex Factory. You can set your own time frames.
     
    #20     Jul 5, 2020