How much does multiple timeframe analysis affect your intra-day trading? That is to say, could you successfully trade using only one chart, and never even look at any other timeframes except that off of which you take your entries? I find myself less and less reliant on timeframes outside of that which produces my entry signals. My success rate has improved as a result of LESS analysis. Comments????
My newbie opinion is that don't use a timeframe which is not required/ necessary to use. And use only the timeframes that are useful and relevant for making profitable decisions. PS: I'm a good student of Jack.
i believe it heavily depends on the strategy you are applying. I have used a strategy that looks outside the time frame where the setup occurs for the main indicators.
Dude... (dumb ass Q. again) When I am trading discretion, I am able to trade with "one timeframe chart"(profitably) but... For one simple example (dropping my level to most) Chart Patterns like Head-Shoulder, Double/Triple Bottom, Resistance Price / Levels... is eventually looking at the macro-view of a chart, compared to Candlesticks or "low parametered" oscillator... Let me ask you... what's the difference between a 1-min. bar chart and a 30 min. .... when you trade... AGAIN... WHEN YOU TRADE!!!! I'm not saying the thread starter is what I am about to mention but... I can't believe most of ET denies the significance of having a mentor "in person"... and finds "remote mentoring"... (retail mentoring service) equally significant... All this is Trading 001 (not even 101)
Am a newbie, a simple question..What are the two time frames you would use in an intraday charts or a long term chart? Thank You in advance.. Good luck to all and God Bless.
3 month / daily for setups, 10 day / 30 minute for entries. My trades' time horizon is 1 to 10 days, averaging about 5. To refine my setup I occasionally look at longer time frames and / or at the 25 day / 195 minute. I found that looking at smaller time frames is counterproductive to my trading.