single chart trading

newbie_7

Active Member
#1
hi,
i trade intraday and have always used a higher time frame to determine the trend and a lower time frame for entry/ exit....in doing this i have noticed that i was missing on good trading opportunities simply because the higher time frame was not allowing me to enter a trade.

recently a friend suggested i use just one time frame...could be 2,3,5,10 or 15 minutes and never look at another time frame...have been trying this from 2 weeks...and it works....there are other ways of telling if the market is bullish or bearish.

i think multiple time frames are for BTST and swing traders who hold positions overnight or a few days....for intraday traders, it could mean an endless wait for the higher and lower time frame to agree resulting in missed opportunities and/ or not trading at all out of fear.

i posted this because a lot of intraday traders use multiple time frames.

any thoughts/ opinions?

thanx,
newbie_7
 

travi

Well-Known Member
#2
I think I'd partially agree with you but for me it depends a bit on screen time as well.
Nowadays, even I use a single TF but the debate still goes on occasionally on which is the best intraday TF. whether 5m is better then 3m or 1m and a lot of ppl use various TFs.
It'll ultimately boil down to choice and preference, if u can handle multi TF and it works, then its good.
 

cloudTrader

Well-Known Member
#3
I prefer using Multi Time Frame , but not too many of them in my intraday trading. Like I want to see the overall trend on the 60 minute TF for a general perception of ongoing environment in the market and then placing the trades in the lower Time Frame say 2 minute or 3 minute depending on the instrument & its personality. If some confusion is faced in the 60 minute TF then I would drop down to a 15 minute TF for a closer look. The trades will always be in the direction of the higher TF but entries will only be as per the lower Time Frame opportunities.
 
#4
I think I'd partially agree with you but for me it depends a bit on screen time as well.
Nowadays, even I use a single TF but the debate still goes on occasionally on which is the best intraday TF. whether 5m is better then 3m or 1m and a lot of ppl use various TFs.
It'll ultimately boil down to choice and preference, if u can handle multi TF and it works, then its good.
Selection of TF depends on more than one criteria namely
1. The size of target with respect to stocks daily range.
2. Volatility of the stock ie more volatile larger TF, less volatile smaller TF.
3. Time remaining before market close (generally when a news is expected).
And so on..

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