TA and Intraday Charts.

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Bogwaluth

I have been running up against a wall. TA on Intraday charts seems very.....lacking to say the least. Everything that works on a daily chart seems to fall apart on a 1-5 min chart. Am I crazy? Anyone else notice this?

Man these stocks are a tough cookie to crack. (Don't get that saying....LOL!)

They sometimes seem to work sometimes they don't. Maybe I just don't have the daytrader in me, but I want to learn. Plug, plug along.

B
 
Sometimes it works, sometimes it doesn't..........that's called "randomness". Going from a daily chart to a 1-minute chart will mean that you are making many, many, many more decisions. Each decision will have stress and commissions associated with it. Keep plugging away.
 
Quote from nazzdack:

Going from a daily chart to a 1-minute chart will mean that you are making many, many, many more decisions. Each decision will have stress and commissions associated with it. Keep plugging away.
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1 minute equals noise, noise isnt TA;
most profitable scalpers they say they use price more than noise, or charts .

5 min candle charts are noisy, like them anyway;
but like 60 minutes candle charts also , MUCH, MUCH less slippage, comission, keystroke errors.

Do occasional daytrade ES profitable ,not 1 minute charts;
but most money made is NOT made by daytraders.

Wisdom is profitable to direct:cool:
 
Quote from murray t turtle:

Helpful points Nazdakk.

1 minute equals noise, noise isnt TA;
most profitable scalpers they say they use price more than noise, or charts .

5 min candle charts are noisy, like them anyway;
but like 60 minutes candle charts also , MUCH, MUCH less slippage, noise false signals comission,s keystroke errors.

Do occasional daytrade ES profitable ,not 1 minute charts;
but most money made is NOT made by daytraders.

Wisdom is profitable to direct:cool:
More...
 
Quote from Bogwaluth:

I have been running up against a wall. TA on Intraday charts seems very.....lacking to say the least. Everything that works on a daily chart seems to fall apart on a 1-5 min chart. Am I crazy? Anyone else notice this?

Man these stocks are a tough cookie to crack. (Don't get that saying....LOL!)

They sometimes seem to work sometimes they don't. Maybe I just don't have the daytrader in me, but I want to learn. Plug, plug along.

B
More...

The reason that TA is not as valuable on intraday is that the closing price of a bar or candle is not the closing price of the day. Closing price is where the professional sentiment is. This does not exist on the intraday bars. You'll notice a tremendous disparity in the look of the daily chart versus intraday. My suggestion is to not trade intraday. :)
 
yeah, depends also what u trade...large caps are very competitive and ranges are too compressed...i for once am terrible with 'em... just cannot trade that stuff. look at more volatile shit...u dont really have to peek at charts on that crap...all u need is price, bid/offer size and last.
 
Quote from Bogwaluth:

I have been running up against a wall. TA on Intraday charts seems very.....lacking to say the least. Everything that works on a daily chart seems to fall apart on a 1-5 min chart. Am I crazy? Anyone else notice this?

Man these stocks are a tough cookie to crack. (Don't get that saying....LOL!)

They sometimes seem to work sometimes they don't. Maybe I just don't have the daytrader in me, but I want to learn. Plug, plug along.

B
More...

As long as you continue to use minute charts (variable charts) your results will equate to the charts you use . . . the results will vary greatly. Try switching to Volume Bar Charts and loose the variable. Start with a solid foundation when you build a house.
 
Quote from hypostomus:

Why would you expect TA to be the same as you progerss from the time scales of investing to swinging to scalping?
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If you use consistent tools the results will be the same, only on different scales. That includes scalping, intraday trading, swing trading, position trading or long term trading.

Minute (TIME) charts aren't consistent. Minute Chart bars contain a varying number of contracts or shares are traded each minute which puts the trader in an environment that is always in a state of flux. Sort of like trying to make a basket playing basketball on a cruise ship in rough seas. A traders must make on-the-fly, snap decisions based on what they see in their minute charts and then cross that with interpreting how their volume indicators and other indicators play into that. What a total waste of time. It's no wonder traders are so confused all the time. Worst of all the industry perpetrates the confusion.
 
Quote from Bogwaluth:

I have been running up against a wall. TA on Intraday charts seems very.....lacking to say the least. Everything that works on a daily chart seems to fall apart on a 1-5 min chart. Am I crazy? Anyone else notice this?


I think this depends entirely on the stocks that you are analyzing as well as the analytical tools you are using. Personally, I find the 5 min chart more reliable than Dailes for the stocks I follow.

Therefore, it's essential to do some backtesting/paper trading to determine which stocks behave. Those that consistently violate TA indicators on an intraday list (eg. a lot of specialist/MM manipulation) are stricken forever from my watchlist.
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