Am I the first to mention range charts? jn thank you for posting for so long on the board.....teaches newbies like me how to trade!
Noticed that whenever I get "too tired" from 1-min charts it's just market (price action) being crappy. Trading requires continuous adaptation... Sometimes I forget this truth, but market reminds me in a harsch way, typical for a lady, who behaves (the Euro).
Pure PA with a 1 min chart isn't bad as long as you're using a conservative approach. I just don't think it's worth it when you could filter the trades just as easily by pegging a critical SR level doing the same exact thing and almost gurantee yourself a much higher amplitude move as well. Other than that 10 min, 30 min, and 2hr are usually what I watch.
I'm not sure you've been paying attention, and it's starting to dawn on me that only a few of us on this board trade the way I do. I'll cut to the chase. Take a look at 5 minute charts of ZNGA and USHS on Friday, and explain to me how any support and resistance levels were at all relevant. I'm sure many of you will make all kinds of observations in hindsight, but seriously? When something is moving in an extremely unusual fashion, it creates an incredible amount of opportunity for those who are adept at what they do. Am I in that category? I don't know for sure, but I know I am getting there. I also know 1 minute charts would have been nothing less than a distraction in those cases.
there's no question that the longer the timeframe traded the less time required to trade I only trade one instrument, the 6E, and my trading system is the same for intraday trades as day-to-day/s trading and variations of overnight trades because of the leverage offered by futures, there's definitely the temptation to trade a small timeframe. I remember making a couple of dozen ES demo trades thru the morning and thinking I could have put on a trade at breakfast, gone out to lunch and when I returned closed the trade for a similar profit my dtd trades require only 5mins per day plus 30mins on the weekend to review for the new week â 'work smarter not harder' ??? should I be trading the 15 sec chart ? sooooo, perhaps the question is, how does one want to spend one's time ?
Hog, I saw part of the quote on Janis' site, and made a search; Trying to follow my angel if you had said (to CF). This two quotes are good, i am going to put it on my wall! Take care, mate. Willie