Does anybody use

[Omrudra]

Hi,

1 minute charts to day trade? O course you need longer time frames to see the bigger picture , but does anybody make decisions based on 1 m? Is that ill advised ? Also does anybody else have the uncanny ability to initiate down trends when you are long and up trends when you are short? And the ability to place stoploss right where the market goes to support/resistance?



Regards,

Omrudra

 

[shadowninja]

Demo it.

If you're a newbie, the answer is probably that it's a dangerous game to play.

 

[Omrudra]

Hi,

Point noted. Wee you are really from Micronesia, Yap ,Chuuk? Is it beautiful there being islands and all?

Regards,

Omrudra

Demo it.

If you're a newbie, the answer is probably that it's a dangerous game to play.

 

[Bolimomo]

Hi,

1 minute charts to day trade? O course you need longer time frames to see the bigger picture , but does anybody make decisions based on 1 m? Is that ill advised ?
.....

I am a day trader. Scalping most of the time. Intraday swing sometimes. I look at 1-min chart most of the time, along with a 60-min chart for better navigation. When I am scalping, trying to fade the spikes, 1-min chart is all I need to look at. I do use many indicators to help me decide whether to get in a trade but the basis is 1-min.

I use tick charts too. You can have granularity smaller than 1 minute.

This forum is on day trading and scalping. Oh... good... I am in the right forum.

 

[shadowninja]

Hi,

Point noted. Wee you are really from Micronesia, Yap ,Chuuk? Is it beautiful there being islands and all?

Regards,

Omrudra

No, I was just bored of my Union Jack flag.

 

[bnaimy]

Hi Omruda, i would recomend you use a 144tick chart instead of a 1min chart, cause 1min will give u a headack cause the moves are not smooth enough. 144tick works better and gives u a better view of the price and smoother moves and stochastics corrolate with the 1min chart also, compare both and seewhat u like to your own personal preference.

But i also recomd u use the 144tick with slow stochastics, fast stochastics will just give u a headack and lots of fake signals, and use a 3min chart with slow stochastics, will give you that little extra edge so u dont fight against all the other people using the 3min,then u will see what side the price is pushing more.

Good luck to you
With regards
Bashir Naimy

 

[alexander]

Hi,

1 minute charts to day trade? O course you need longer time frames to see the bigger picture , but does anybody make decisions based on 1 m?
Omrudra

I use 1 min charts when markets are fast and longer time frames cannot provide a clear picture of the market dynamics.

In general, my own opinion is, that the faster a market moves the shorter time frame makes sense.

I constantly switch between 1 and 5 min charts when I want to take profits or losses and I always use market orders for that. When markets are fast, 1 min charts can provide information about some local pivot and consolidation points, local support and resistance, things that are very important for trade execution improvement. Of course, as you said, this time frame does not offer any indication about price direction, trend, etc.

Alex

 

[shadowninja]

That's for real men. I'll stick to the girlie H1 charts, thanks.

What do you trade, then, Alexander? You talk about faster markets... at news time, Forex is pretty fast...

 

[alexander]

That's for real men. I'll stick to the girlie H1 charts, thanks.

What do you trade, then, Alexander? You talk about faster markets... at news time, Forex is pretty fast...

Bonds, forex, spiders, qubes, dow stocks, everything is fast at news time now a days or during other times when bankers or politicians talk about the current situation in the markets.

H1 is good for position trading and I also use H4 for swing trading.

I think everything has some good use depending on specific method and system. This is the reason I avoid generalizations and I only talk about my approach.

Cheers,

Alex