For example, the general trend is bullish on a daily basis. The trend in hourly sailing also bullish. I wait for a setback in 5 minutes. Then the price turns up, I make the entrance and put the stop under the 5-minute candle. I almost always end up skipping the stop, I don't know what I'm doing wrong.
I can tell you what I use. I don't pay attention to any other time frames other than the ones I use to trade. On the ES it's either the 3000-9000-27000 tick or half those values depending on current volatility and range. My trades are a variation of trend pullback concept, they can be taken on any of my tf's, although most of them are entered on the smallest. My stop does go under/over the entry pivot as that is support/resistance. If it breaks S/R, I no longer want to be in the trade but I will re-enter on a subsequent signal. I have a number of qualifiers and filters so it gets complicated but a couple example are, I am looking for Moving Average gap on the next higher tf . I wait for a second entry after a divergence on the next higher tf. If I am looking at a long in say the 3000 tick, I look to see where the entry would be in relation to a short on a higher tf....if there is adequate room to the buy/sell zone on the higher I take the lower signal...if it is very close, I am looking for a possible momentum shift. I have three MA's on each chart, 9ema, 30 wma and 90 wma and also a momentum oscillator on each. As I said it can get complicated as the three tf's have to jointly confirm the signal. The rules of the plan have been refined through the years and require occasional adjustments. Learning to day trade is a long and arduous process for those of us who are mortal and there are no two identical trade plans as there are no two identical traders.
There is a big difference between the daily and the 5 minute. You might look at compressing your tf's. For example 5 minute, 15 minute and 45 minute charts. The 5 minute can go long and short many times before a daily changes direction.
Don't be discouraged, it takes a lot of trial and effort before the smoke clears. It's not simply a matter of developing a viable trade plan but one which is comfortable to your own personality...all the best.
Volpri, have you ever witnessed anyone on this planet trading as you described consistently? Just curious because I assume you know something about trading. The calc that you just stated sounds like the fantasy of the Holy Grail. You understand, of course, that what you described is impossible, right? At least I hope you do.