By looking at 15 days of intraday prices, i feel good about this stock, then i look at 6 months, hmm, seems too high, this stop me from buying, but next day it flys! So then change to looking at 15 days intraday prices, looks good, so buy the stock, next day it falls, so cut loss, then another day it goes up again, u know, lots of whipsaw for intraday But by concentrating on 6 months, u may not know so much about the stock, but by looking at 15 days intrday, u maybe cheated by the so called intraday. It just so much headache... btw, i'm more of wanting to hold stocks for 1-2 weeks, not within a day...
Do you know about support and resistance etc Higher highs higher lows visa versa, there is a lot to learn
If i follow 15 days intraday prices chart, i tend to get stopped out and cut loss, but if i follow 6 months prices chart, i tend to hold longer. But the point is sometime the 15 days intraday prices is right in that there's a downtrend coming. But sometimes, it is a trick, after some down days, it goes straight up. If i play by 6 months price daily chart, it seems too high level up, not much detail. Sometime good that i can hold longer, but bad that i ignore the intraday warning, that in the end, it goes down. I just don't know which chart to trust, 15 days or 6 months daily?
Everyone has his own time chart to trade. You need to find a one that you trust in the most, then you will have the confident in seeing the negative profit (before making profit). I dont trade stocks, I trade indices and forex. My charts setup is as below 1. 1 day chart for long term trend 2. 1 hour chart to confirm which trend to follow (as 1 day chart often lags to the real trend and you may miss the boat) 3. 10 mins chart to find the right time to enter a position Even setting up with 3 charts like that I dont often get in and get out at the perfect time, just close to it. I often have to buy (short/long) 3-4 times to smooth out the entry price and when closing, I close half of a position at a time. Another thing which may makes the charts above work for me but not for you is I tend to hold open positions over night and close them after 2-3 days
If your trading long term ie daily or weekly then stick to daily weekly.. Use intra day for entrys and exits only. Don't get caught up in watching intraday charts.