still looking for advice on short term trading. trying to get a grip on this time frame thing. have an idea,but need a little help putting the pieces together. ANYBODY??? THANKS WELD1
they won't help you, but they sure as heck will bash you, and tear you down, to make up for their downtrodden existence.
Maybe if he were more specific about what he wants, he'd be more likely to get a pertinent response. First, I'd suggest the Search function. Why repeat yet once again what has already been repeated ad infinitum? If searching the site for answers is too much work, good luck on trading. Second, read. There have been plenty of suggestions made on what to read. No need to make them again. And everything is available at the library or through interlibrary loan. Then we'll talk.
I'm not sure if you are looking for help here (on this forum) or from someone local to you that you can sit down and talk with. If you are looking for help here, please be a bit more specific in your questions. There are plenty of "clowns" here that will step out of their big clown shoes and give you some advice.
weld1, For me there are three basic timeframes, daily, hourly and very short term, say 1 to 5 minutes. Basically, I look for patterns, trend and support and resistance on the daily and hourly and look for trade setups that conform to that on the 5 minute. I sometimes use the 1 minute to trade intraday. You are on the right track to be concerned about timeframe because it is the basis for everything else. Your first step as a trader is to decide which timeframe you will trade. It's very hard to trade more than one. The best way to learn about them is to observe charts. It's ideal to have several monitors and compare different timeframes of the same market to see how moves developed.
THANKS FOR THE REPLY, I HAVE 3 MONITORS AND THE LAST FEW DAYS I'VE BEEN CHART WATCHING,TRYING 10-20-30 ,5-10-15,20-40-60 MIN. EMA ON THE S&P AND THE QQQ. COMPARING THEM TO DIFFERENT STOCKS. I LIKE TO TRADE ON DAYS THE MARKET IS NOT STUCK IN SUCH A TIGHT RANGE,GOOD LUCK KNOWING WHEN THAT IS RIGHT .WITH MY ACCOUNT I NEED A 1 PT. MOVE OR MORE. WELL I DON'T KNOW, SOME DAYS I TRY TO CATCH LITTLE PRICE MOVES IN CHEAPER STOCKS, I LIKE CHKP, WATCHED IT THHIS WEEK AND IT SEEMED TO MOVE WHERE I COULD MAKE A LITTLE MONEY. I KNOW THERE IS NO EZACT SCIENCE TO THIS,BUT I'M JUST LOOKING FOR IDEAS THAT I CAN START WITH ,AND THEN MODIFY TO FIT MYSELF. I AM RIGHT IN ASSUMING THAT WHEN A SHORTER TERM EMA MAKES A STEEP ANGLE AND EVEN CROSSES THE LONGER TERM EMA, THIS IS NOT ALWAYS A BAD OR GOOD INDICATION. I GOT OUT OF A FEW GOOD TRADES RECENTLY LIKE THAT. I DON'T KNOW , IT JUST THAT I FEEL CLOSE TO HAVING ALOT BETTER IDEA ABOUT THINGS THAN EVER BEFORE. I'M NOT LOOKING FOR ALL THE ANSWERS, JUST A LITTLE FINE TUNING. THANK U VERY MUCH, ANYMORE ADVICE WOULD BE GREAT WELD1
weld1, this is not the advice you are looking for, but please do not type in all caps. That's considered shouting, which I am sure you did not intend to do.
weldone, I'd suggest you capitalize on earlier advice and do a site search...try Keep It Simple II for help with the question you've asked, quoted above. Bruce