Second based charts for Daytrading?

[antares66]

Hello, i`m usually use 1m charts for my entry and exit for daytrading but consider to use 10s or 15s charts to get a better entry. Does this make sense?
For using Ninjatrader i must subscribe either to kinetick or barcharts because with an IB datafeed i don´t get historical timeprints. On Ninjatrader the first second bar i get is the one at the time i opened the chart. But when opening a second based chart on IB´s tws i see all second bars for the entire day. That is something strange.

 

[antares66]

I only trade stocks, no futures

 

[Real Money]

I do this, but use the second charts for different things.

You can get second charts in TWS.

I use DDE EXCEL API for TWS and make sec charts in Excel as well (took a while to develop).

You can use ThinkorSwim tick charts.

A 1 tick chart is like a sec chart (faster even).

 

[Bree98]

Time frames can be good or bad depending upon every trader's trading skills and convenience. Some prefer short time frames, while others go for the longer ones. Can't suggest one time frame for all.

 

[dozu888]

if you want more noise why not microseconds.

 

[padutrader]

if you want more noise why not microseconds.

have a heart mate
do not be so blunt.
I do not day trade.....I hour trade.
and yet I use 5 min.
if you use 1M charts you make 1M trades and you need that level of precision

Does this make sense?

no because how much does the market move in 10 sec

 

[padutrader]

but it is ok if you are already a profitable trader.....

I have no idea to your level so I cannot advice you.

not that I am qualified to advice you but since I do not know how knowledgeable you are I cannot even give you something...which may be worth less in any case

 

[speedo]

Understand that the lower the time frame, the more likely what appears to be trend resumption is just more corrective action.

 

[padutrader]

Understand that the lower the time frame, the more likely what appears to be trend resumption is just more corrective action.

good point

also what you can make in 1M is equal to what you may make in 10 min of work.
do you think you will be paid 1000s of usd for 10 min of work.
if you do then trade 1 M

 

[Laissez Faire]

Interesting topic.

There's been a lot of discussion in the past on tick charts and volume charts, but I've not seen so much on faster sub-minute charts.

Presumably - a faster second chart would be similar to a fast tick chart - right?

My main chart is a 1-minute chart too. Does not mean I base my trading decisions on a 1-minute chart alone - far from it.

For execution I've been using faster tick charts OR the 1-minute - depending on the action. But I am currently looking into sub-minute charts as well.