100/200 ticks? Volume bars? 1 minute? 3 minute? Personally I found that better time frame is 3 minute bar, because EXP MAV like 8/13/34/55/75/175 works well and MACD 6/75/13 above below zero is very reactive Please share your experience or technique Any info would be appreciated Thanks
I only use 2 minute bars for TF, one minute seems too many whipsaws of trend. I trade it very much like Crude oil as chart to me, resembles that market, first 1.5 hours wait for close beyond a pivot, and wait for a retracement so long as retracement is not inside the thrust bar (one that causes the trend change which often is a bigger range bar), then 3.5 hours of chop signals, then resuming trend signals. I find all the Indexes to have similar chart patterns, including the ES, but due to lite volume of other instruments, they just seem wilder, just my opinion. I think the best trades are first two hours then walk away. I keep an eye on trendlines on the 60 minute/daily charts, day ranges and rounding at extremes, don't want to over stay.
I've never met a scalper that uses minute charts. Simply, there's a difference between day trading and scalping. Also, lets assume you have a scalper system in place and such must include having special low commission rates or an exchange seat... You'll be using time frames LESS than 1 minute as in tick charts, second charts and such. Regardless, if you're not getting special low commission rates for scalping...don't bother scalping (seriously) and just go with day trading. Something else, of the scalpers I do know...only a small percentage of them are profitable and all of them (the profitable ones) uses DOM, time & sales, bid & ask information as their primary trading technique. Yet, I'm not saying you can't scalp successfully from charts alone...I just don't know anyone that's doing such via charts alone.