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I wonder if I'm just getting too damned old for 1 minute charts...

Discussion in 'Psychology' started by jnbadger, Feb 17, 2012.

beachhouse
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I don't know if 5-minute is tradeable.

Even 1-minute doesn't give me many opportunities.

Thinking about 30-second. Got to keep up with HFT.

#21 Feb 18, 2012

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jnbadger
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You really think watching a 30 second chart is going to help you keep up with a computer?

#22 Feb 18, 2012

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BCE
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Quote from bighog:

Completely agree about the 5m, that was the frustration with the 1m, common sense tells us that focusing on the 1m would naturally distract from the 5m. I was under the false impression that since the 5m was slower i could get as many handles in the 5 as i normally would but enhance the day with more easy pickins by trading the 1m scalping account in a separate account....... it required a boatload more work for less than expected results. Mind you, i do not trade stocks.

Do a review of last weeks ES 5m trading only and ask yourself this question: "if i traded just this one instrument in just this single time frame and used basic levels-support/resist parameters laced with the 20 ema as your guardian angel to stay either Long or Short side of the mkt, throw in silly stuff like milking the retraces as continuations when the retrace forms a flag after you picked off some profit from the previous leg of a normal 3 legged runner and showed a neato measured move...........etc. " Why would another time frame be needed?

The second part of your post about a few futures with a multitude of time frames made me reach for the bottle of extra strength MAALOX........... INFORMATION OVERLOAD

You are seeking something that was overlooked long ago...........LESS IS MORE!!!

PS: Looking at all those time frames to quide you to an entry how in the world will all that help to set the STOP LOSS? Will you enter into the 5m because you liked what you saw in the hourly chart? That would mean your STOP would not be in tune with the hourly.

PSS: speaking of age...........why the ... do i use the Q in place of G....senior moments, ha

Milk that certain time frame, get comfy with it, do not seek more, just increase size. Heck, i even had trouble handling one women at a time in my life, trading is not much different. Ok, i admit, if i met a chick at a bar and asked her name and she said........ES, i would propose... :eek:
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Simply stated, great points. I spend too much time looking at 1 min charts and the SuperDOM. I think it's good to set up several charts in different time frames.

As far as meeting ES at a bar, ES is my ex. I've moved on to my new girlfriend now, CL. The only problem hooking up with her though is as NoDoji has mentioned, "CL lives in a cave far from civilization. She answers to no index!" And also paraphrasing NoDoji, if I still thought about ES it would interfere with my crude reality. Sounds a little funky doesn't it?

#23 Feb 18, 2012

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bighog Guest
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BCE, i tried to hit on CL, she was real nervous and could not sit still long enough for me to get a handle on her real intentions. She did say she noticed me checking out her "stuff, and asked if i wanted to give it a GO" I said, sure if you settle down some and let me get positioned properly" She agreed then asked if i could do something with my natural hair............

http://www.youtube.com/watch?v=XI4GqaCzJF8&feature=fvwrel

http://www.youtube.com/watch?v=NqecJR4BMLI&feature=related

She preferred "greasers" after all.......

PS: not sure if the ES i met was your ex but did mention she preferred "SIZE" these days and handles it with ease.

#24 Feb 19, 2012

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americanhero
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Quote from jnbadger:

My primary tools for looking for manual/semi-auto stock trades have always consisted of 3 linked charts. A 1 minute, a 5 minute, and a daily. Sometimes I'll punch a 15 minute in there for a longer perspective, but not very often. And then I would/will often use the one minute chart for entry, and then use a combo of the 1 and five to get me out.

I think I have always thought there was some type of advantage to using such a short time frame. Those possible "advantages" being a perceived notion of tighter risk control, in addition to seeing many more trades on a 1 minute chart. I am somewhat of a believer in fractals, and I subsequently believe certain behavior occurs across all time frames, so I always thought a one minute chart would mean "more is better".

Even as I type this, I am beginning to realize more and more what a ridiculous idea that is, especially since the proof has been in the pudding lately as I am trying to completely get rid of one minute charts on my screens, and have been basing almost everything on simple 5 minute charts. Hell, I even used a 30 minute chart to help me let my profits run the other day. Not only because I am developing more patience as i get older (45 in July), but the risk/ reward is better, the slippage isn't as important, and although my commissions are already negligible, they matter less and less now.

But the point of the thread is thus: Following 1 minute charts, and all of the 1 minute alerts my scanner picks up is just getting to be too f...ing exhausting. By lengthening my time frame, it just seems more relaxing. Not only because of the advantages listed above, but because of not being driven insane by the perception of so many missed opportunities, especially early in the day when alerts and patterns and such are flying at you at light speed.

Many years ago, late 90's I think, I paid Mark Douglas to talk to me on the phone for an hour, and he basically talked about what is in his books. But one thing I specifically remember is him asking me what time frames I look at. I told him I primarily looked at 1 minute entries. He asked if I was insane, and I remember responding, "probably". Then he went on a rant as to how one minute charts are just noise, and how I am shooting myself in the foot by using them. I guess I had to learn that one the hard way over time.

Well this is way longer than I thought it would be, but I guess it's my way of standing up in a large room and saying, "Hi, my name is jnbadger, and I am a one minute chartaholic. In 24 hours, I will have been looking at time frames of no less than 5 minutes for one day."

(Please keep in mind, I trade the crazy movers during the day. When I put on the occasional index trade, it is based on a 15 minute chart, so this rant does not apply to the /ES, SPY, or any other type of index trading.)

Thank you for your time.
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I am 54 years old and I trade 1 minute charts. It depends on attitude, not age.

#25 Feb 19, 2012

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jnbadger
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Quote from americanhero:

I am 54 years old and I trade 1 minute charts. It depends on attitude, not age.
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I understand. And my attitude is that the 5 works better for me, and the 1 costs me money, and is an addiction I need to kick.

But seriously, your handle is going to have that stupid song stuck in my head all day....

Believe it or not, I'm walking on air. I never thought I could feel so free..ee..ee....

Dammit.

#26 Feb 19, 2012

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BCE
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Quote from bighog:

BCE, i tried to hit on CL, she was real nervous and could not sit still long enough for me to get a handle on her real intentions. She did say she noticed me checking out her "stuff, and asked if i wanted to give it a GO" I said, sure if you settle down some and let me get positioned properly" She agreed then asked if i could do something with my natural hair............

http://www.youtube.com/watch?v=XI4GqaCzJF8&feature=fvwrel

http://www.youtube.com/watch?v=NqecJR4BMLI&feature=related

She preferred "greasers" after all.......

PS: not sure if the ES i met was your ex but did mention she preferred "SIZE" these days and handles it with ease.
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For some reason "peach pomade" came to mind. But I guess that's what CL wears in her hair. And that was one thing with ES, she always could take on size.

#27 Feb 19, 2012

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NoDoji
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Quote from BCE:

For some reason "peach pomade" came to mind. But I guess that's what CL wears in her hair.
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You know I spent an hour and a half meticulously cleaning my vintage (1986) IBM Model M keyboard today and nearly spit a mouthful of tea all over it when I read Hog's post

How come you never log in Skype??

#28 Feb 19, 2012

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BCE
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Quote from NoDoji:

You know I spent an hour and a half meticulously cleaning my vintage (1986) IBM Model M keyboard today and nearly spit a mouthful of tea all over it when I read Hog's post

How come you never log in Skype??
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I'm shy. I created a new Skype account and I forgot your tag. I'm off to dinner. PM me.

I should buy those 50 contracts from beachhouse before I head out.

#29 Feb 19, 2012

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jnbadger
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Quote from NoDoji:

You know I spent an hour and a half meticulously cleaning my vintage (1986) IBM Model M keyboard today
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Uh, ma'am. Are you sure you have room in your socket for that ol' piece o' wood?

#30 Feb 19, 2012

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