What Time Frame Do You Use For Day Trading

[Walther]

Thanks and hope that your health will improve soon.
I was thinking about setting up trading program to provide vocational scholarships. Can you ask some of your students ,who are doing something simillar, to give me some pointers ?
Thanks,
Walter

 

[daniel_m]

What Time Frame Do You Use For Day Trading

the wrong one!

wil i EVER pick a good time to take lunch? sheesh. this starting to get up my nose. (u know, you hang around, nothing happens; you leave, and ---) lol

 

[traderkay]

Jack, thank you for sharing. It would be a much better world for newer traders, if there were more people like you. As far as the best way to share your knowledge, I would recommend writing a free e-book on trading e-minis for beginner levels. E-minis are very popular these days and an e-book on this topic would help out a lot of people. It's rather difficult for people to search out and combine your different posts, etc. It would be most efficient to find everything systemazied in one e-book.

 

[Chicken Little]

Quote from jack hershey 02/11/03:

Thanks for your question, Walter. I have tried several ways to unload my "knowledge"; there are many people using it and several collleges have handed out degrees ? based in part on studies (I haven't read any however).

At 70, I have a list of 10 things "to do". The good news is that I am doing some. I'm living 1000 days at a time now. There will be four books in the this slot; two of them will relate to equities and futures indexes. The others will pragmatically scribe paths for institutionalizing Franco Modigliani's Life-Cyle Hypothesis (1985 Nobel prize) vis a vis sectors of the financial industry. My printer says I can get them off the presses for 4.50 each so I believe it will be easy to get a bunch out there. I've done books before (about 30) and one of them did 400,000 copies in 4 months. We are gong to slip the appropriate disks (CD's) into the rear pocket for people to use on PC's.

In the past I have mentored; contributues to web sites, and narrated the day trading on Yahoo. Unfortunately, nowadays I am completing a surgery schedule that started last summer and strangely I have difficulty speaking for long periods of time due to a respitory glitch that hasn't gone away as yet.

Some people google me and keep 3 ring binders... among them many are doing well they email me. It is my request that successful people mentor others and share profits with not for profits. I notice it is happening. I trade with POA for others (local personal friends) who then can contribute time as a courtesy to others who are in need of their skills.

It is my believe that helping out doesn't have a downside.

My standard for the quality of what I do is being cited by the SEC for insider trading. My current record is 5 times for one year and 100% rescinding of citations. It is fun to see their flags go off occassionally.

Hi Jack,
I am just following up to see how the four books are coming along now after 3 and 1/2 years.
Thanks,
Best Regards,
CL

 

[Chicken Little]

Quote from jack hershey:

I trade short term on equities, and intraday on commodities futures indexes.

The nominal bar durations I use, respectively for each is 30 min and 5 min. The next fastest fractal for each is 5 min and 1 min respectively.

I feel that I can cover the range of durations with 7 possible fractals. You can see that the ratio of fractal durations is about 5 or so.

I keep track of price, volume, MACD (5, 13, 6) and C&R stops locations. When I am in a situation where another person is using other indicators, I usually suggest to them the defaults I would use were I using that indicator.

I trade on the slower of the pair and anticipate on the faster of the pair.

For beginners trading commodities futures indexes like the normal or minis, usually I do not let them trade unless certain indicator conditions exist. These restraints simple only let them trade fast paced markets and they enter and exit only on market orders. They must also follow a stop protection regime that is aligned stringently to the market, the pace and the fractal and a related C&R periodicity.

I am new here and conventionally most people (4 out of 5) disagree with me in other forurms. You can see the contemporary perspective by looking at the follow on to your question. I try for clarity and i am an older person who probably will give you more of ananswer thyan you wanted but I feel a context is important.

My performance in equities is on a 6 to 8 day trade cycle and I realize more than 10% on average. I do about 50 turns per 3 years for each stream of capital I trade. The number of streams is the same as the average hold duration in days so I am rotating through one stock per day. My chief focus is having cash to utilize for opportunities that my universe of about 200 stocks present. My ROI on commodities runs 50 times that of equities with 3 to 5 trades involved per day. I trade by phone and have voice recognition.

regards,

Jack

When did you move up to 20-30 trades per day as you currently advise ?

 

[nyxtrader]

1 and 5 minute. Depends on ones preference.

As far as indicators are concerned, learn how to trade volume and price action. VOLUME is THE indicator, everything else is lagging.

 

[limitdown]

Quote from sahheng:

what times frame (minutes) charts do you consider is good for day trading in Futures or Stocks ? Sometimes we get 1 minute chart Long signal but in 3 minutes chart still in short position. Different minutes chart will give the different signal, which time frame do you consider best for DAY TRADING ??

outstanding thread!

many times people also switch off to tick, volume and split share intervals, so they won't readily be able to give an equivalent time interval for their charts

 

[GEBAKK]

3 minute time frame for intraday trading and daily frame for less active (day)traders.

Open a chart and look at the 3 minute chart of NQ, ES, SPY, YM. Add MACD and watch...

3 minute rulezzz the waves.

 

[Traber]

bump...

 

[nkhoi]

note: old thread (02-09-03).