Anybody trading that 5m chart for more than 80% of their trades?

easymon1 said:
What SINGLE timeframe chart would you use if you 'had to' limit to one for 80% of your trades?

i'm thinkin' 10m is too slow, 5m grabs plenty of good trades, makes doing stats lots easier and less time consuming, gives more time for chart analysis between candles.

i'm thinkin 5minute.

What say you?
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3 minutes seems to match my comfort and risk parameters.
 
I have NEVER made a trade without at least consulting the 5 minute chart. It is the most used, and I want to see what everyone else is seeing because everyone else drives the price action, not my little $1k positions. HOWEVER, I also usually look to the 15sec, 30sec, or 1 minute chart to pick my entry at a dip or as close to a dip as I am going to get. That usually shaves a couple cents off my entry. Hey, two cents and 100 shares is two bucks and why start out with a $2 handicap? Ditto the exit if I am not in a hurry but just need the cash standing by for the next trade. I also nearly always look at the day and hour charts if not pressed for time. If a stock is trending up on every time frame from a minute to a day, I feel pretty good about going in. This for trading the trend. Trading a pattern such as the bull flag play, I am not as concerned of course with the trend outside of the last half dozen candles.

My current platform goes all the way down to one second candles and up to one month candles. So it is more versatile and capable than the brokerage or my internet connection or my mouse finger or ENTER key. Not much use, the one second bar, except it makes nice moving averages or bollinger bands whatevah. Instead of 9EMA at 5 minutes, I can go 200EMA on one second candles and the perspective is a lot different.
 
I got a 60" but not using it right now. Here is an old screenshot.
Screenshot from 2019-10-08 14-39-01.png
 
I am a short term futures trader and use a 4 range chart. I do keep up a 1 min and 30 min chart for perspective. I prefer the renko style however the footprint type chart doesn't work as well as the range charts.
 
Interesting information. As a new dayish trader, with no training or mentoring from an experienced trader, I started and stuck to the 1 mn pulse and occasionally expand to 1 and 5 days to put things in perspective. But I suspect the type of trading and the stocks will affect the choice. 95% of my trades are Tsla, which is particularly volatile and subject to sudden $5-$15 swings in minutes. If I want a break I set my brackets and get off the screen for a while, or until the alarms trigger.
 
Turveyd said:
i tried to go M5's this week, been on M1 for ages, needed a change, tried it for a day and too slow, not enough setups, but did help me relax a bit M1 and let trades come to me.

100% of trades on M1 here.

I do think M2 or maybe M3 would suite me better, but no access to those TF's :(
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Do a search for “Period converter” at Forex Factory. You can set your own time frames.
 
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