Are intraday charts essential to position traders?

E

elitetradesman

My understanding is that many investors do not look at intraday charts because they mostly look at the market close.

What about postion traders? Do they need intraday charts?

Also, can I assume that swing traders must have intraday charts?
 
Quote from elitetradesman:

My understanding is that many investors do not look at intraday charts because they mostly look at the market close.

What about postion traders? Do they need intraday charts?

Also, can I assume that swing traders must have intraday charts?
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Useless.

If you are a position trader you study daily and above.

However, my definition of position trader is very different from swing trader.

Crazy A
 
Quote from elitetradesman:

My understanding is that many investors do not look at intraday charts because they mostly look at the market close.

What about postion traders? Do they need intraday charts?

Also, can I assume that swing traders must have intraday charts?
More...

I only know a handful of position traders and none of them use intraday charts for their trade decisions. Yet, that doesn't imply position traders I don't know aren't going to be using intraday charts to make trade decisions.

Mark
 
Quote from elitetradesman:

My understanding is that many investors do not look at intraday charts because they mostly look at the market close.

What about postion traders? Do they need intraday charts?

Also, can I assume that swing traders must have intraday charts?
More...

Put up a candle chart of any symbol that you trade in a daily timeframe. Look inside the bar and ask yourself it your entry would have been better if done during the daily market action.

If the answer is yes - and in most cases it will be - then you know the value of monitoring intraday.

Daily/weekly bars are fine for defining setups. But when it comes down to a specific entry point, intraday periodicities often give you a big edge in becoming profitable.
 
Stop looking at charts if you want to make money. Get one of those old quote monitors and study the tape. Charts are for losers.
 
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