How many charts do successful traders use per symbol??

[oldtime]

Quote from spd:

Yeah, our pal Newtime

meet the new boss, same as the old boss

 

[traderslair]

Quote from Rashid_G.:

Sorry.... In my limited thinking, I have always marveled at how one can trade without charts... I actually exorcised DOM and T&S from my screen a while ago as they spike my emotions with the speed.

A quick lesson from you will be fantastic.

I can perfectly predict markets for the next 10 seconds when some of my setups show on the DOM.

That's my edge, that's how I trade. I don't have any charts up. Only my DOM with a T&S next to it.

 

[traderslair]

Quote from goslow:

That you're so consistent leads me to ask: what platform/DOM do you use, and what symbols do you trade? Thanks.

X-trader, because I need the market depth on the DOM and I need the EPIQ functionality.

Liquid markets works best because they move slower and are bigger like ZN, ES, FESX.

 

[Laissez Faire]

Quote from Rashid_G.:

How many days are you displaying on your 5 min?

As many as I need.

Know the recent average range and what to expect on any given day assuming an average day, less than average, beyond average. Never be surprised.

I find that the high/low from days way back acts as fairly accurate S/R, often to the tick.

If we now start moving outside this recent range, more history is needed and higher time frames may be more relevant. If we reverse from here, the last week`s range is the immediate reference. Makes sense?

Remember, if you want to capture the larger intraday swings, you need to let go of the small winners and accept that the trade will retrace. I often get stopped out for a tick or B/E on trades that are initially 2-3 points in the green when I`m looking for a 5-10 point swing, but I never let it turn into a loser. That said, I try not to be stubborn and take what the market offers when I realize it is less than what I was expecting.

Know what is normal and what is expected in terms of adverse movement and trade accordingly.

A larger swing is usually made up of several smaller swings. Decide which part you want to play.

As always, one should assume that most guys posting on this forum is full of shit and that includes me. Do your own studies and make your own conclusions.

 

[cornix]

Quote from Laissez Faire:


I find that the high/low from days way back acts as fairly accurate S/R, often to the tick.

Definitely agree. Previous days H/L (also opening and close/settlement prints in some markets) as well as swing highs/lows of time frames above 1H are very important for a day trader.

 

[pbylina]

I would use a 4hr for the whole picture and a small tick chart for the now picture.

 

[Shooter McGavin]

One "chart" for the trade I have on, but many other indicators such as:

2 trading windows, one for the stock, one for the options
At least dozen other charts (potential other trades, spot trend changes)
Charts include:
Dollar charts (DXY, UUP)
Interest rate charts ($TNX, TBT)
Gold chart (GLD)
SPY, AAPL, AMZN, FCX, XOM, CAT, IBM, MMM, FDX, FCX, X, JPM
2 watch lists
News scrolls
T.V. news
Research ideas ... Yada, yada, yada

It does change, but those are the staples. Hey, it works for me.
But obviously there are a ton of different ways to trade.

The real test is when it goes against you. Bag it ? Average in ?
That'll put some fur on the old peaches

 

[Trader22]

In my continuing battle to get consistent I am considering using only one chart to trade during the day.. 1000 vol, 5 min, 3 min, 500tick.. Whatever but just one chart. In the morning get key levels from the longer time frames and close them all.

I find seeing longer time frames while trading adds more information than I need and much worse, leads to forecasting turning points. In the end seeds of doubt cloud my day..

Ultimately I will settle on what works for me but how many do you use? Thoughts?

I have 6 timeframe charts open at all times for what I'm trading and will even look at 7 or 8. Its the only way to do it imo. You need the full story of whats going on