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

[Laissez Faire]

1-Minute, but the bulk of my methodology/framework is not chart based per se or based on reading bar-by-bar patterns.

5-Minute appears to be the 'industry standard'. It strikes me as slow and blunt these days - although you do of course not necessarily need to wait for a bar to close before taking action.

 

[murray t turtle]

I've had my longest discretionary winning streak of 30 something up days in a row …….. +daily

%%
That's exactly what I use bid/ask/daily;
daily/weekly/200 dma...……………………………………………………………..

 

[ChipShotTrader]

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?

I guess, you did not take the hint in my last thread, addressed to you. Forget about "Time", there are other ways to chart (without the Time Factor), as this is what 99% of what regular folks use. Otherwise, people like ME will take your money, ALWAYS...

Maybe ask a "Professional" like this guy:
https://www.elitetrader.com/et/threads/n-a.346802/page-7

Give him a call. It's just $700 for 30 Minutes. He will coach you!

 

[Launcepeter]

Being a scalper, I prefer a 1 or 5 minutes time frame. Everyone has their own time frame preferences depending upon their trading style.

 

[birdman]

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

I like a 1 minute line chart (for broader context) Easy to see HHs or LHs. And then i trade off a faster tick chart with candles.

 

[outhoe]

Being a trader, I have not done any exhaustive study on 5M charts. But, I can say that the 5M chart is quite popular time frames any trader can use. It provides you with the right mix of monitoring the progress details without scalping that further allows you to avoid waiting for more time to pull the trigger as well.

The 5 M chart acts like your anchor and highlights every activity that takes place. Also, the one-minute chart also displays a similar consolidation pattern. 5 M charts are faster and help you grab smart money easily.
I hope this helps!

 

[LiquidMike]

On the 1M chart, how are you staying away from Ranging periods? Easy to lose your money during those time periods.

 

[maxinger]

I use volume charts. Some times I use small volume.. Some times medium volume. For violent market, I use very small volume.

 

[Turveyd]

On the 1M chart, how are you staying away from Ranging periods? Easy to lose your money during those time periods.

I just make smaller profits from the ranging periods and if breaks out my way while I'm still holding then it makes good $$$'s.

Not expecting every trade to break out and being happy with 8pt's on NQ is key, or it will eventually get to your SL repeatly.

 

[LiquidMike]

I just make smaller profits from the ranging periods and if breaks out my way while I'm still holding then it makes good $$$'s.

Not expecting every trade to break out and being happy with 8pt's on NQ is key, or it will eventually get to your SL repeatly.

If you are using a short time frame and you have more trades that you keep jumping to the wrong side of it because it's ranging, you're losing money versus making small gains, unless you're able to pivot quick enough.
?