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Time frames and charts


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Time frames and charts

  #1 (permalink)
 spikoloco 
Queretaro,Qro. Mexico
 
Experience: Intermediate
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Does anybody know a way to find the ideal time frame for a specific instrument?

Some symbols are better traded at 1 minute charts, others at 610ticks and so on.... is there any formula to find the best time/chart type/set-up?? I have heard that there is an algorithm that can determine which would be the ideal set-up-......any opinions??

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  #2 (permalink)
 
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 Dragon 
Bellingham, WA
 
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Interesting. I never knew there might be an algo set up for this. If there is I would like to check it out. Hopefully if it exists someone will share it with everyone. Otherwise, I know some of us here like the 5 minute chart. I know another who uses renko, another range, another volume, and yet another who uses tick. What you use is up to you I think and has to fit your trading.

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  #3 (permalink)
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
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spikoloco View Post
Does anybody know a way to find the ideal time frame for a specific instrument?

Some symbols are better traded at 1 minute charts, others at 610ticks and so on.... is there any formula to find the best time/chart type/set-up?? I have heard that there is an algorithm that can determine which would be the ideal set-up-......any opinions??

I disagree with this. And this is coming from someone who used to trade all kinds of tick charts, range charts, volume charts, and basically NO minute charts.

Now I exclusively trade a 5m chart, and have two bigger charts for big picture stuff.

A 5 minute chart with an EMA 20 is all you need. If you can't find patterns and make money using that, then you aren't looking hard enough. I suppose some instruments don't conform to this, but if that is true, then why trade them?

Mike

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  #4 (permalink)
 
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 max-td 
Frankfurt
 
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one fast morning-answer here :

i disagree to mike! -- not joking !

saying this or that is all you need is not OK!
it is like saying : i know / i have the truth and all the rest is not right.
and what that means further on i will not discuss here...... i think you know it yourself.

you have to find "your" timeframe for "your instrument" that fits "your trading-style + setup"
thats what i think. and it will be a part of the learning-curve. i dont believe in a formular finding this.

max-td
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  #5 (permalink)
 MXASJ 
Asia
 
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You can optimize on time series in NT7, which is a pretty cool addition. The time series you trade might depend on your trade risk and the instruments ATR. If you risk $200/trade then you won't be trading the ES off 11 range bars, for example.

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  #6 (permalink)
 
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 Big Mike 
Manta, Ecuador
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We agree on most things max, so it is ok to disagree on one

My opinions:

Some things will be universal across all time frames. Yesterday's high and low, for instance, which then means pivots and S1/R1 etc.

But otherwise, a 6 range or 11 range chart does not "drive" price. The first tap off an EMA 20 on a 11 range may work sometimes, but it won't work as nicely as it does on a 5 minute. A 233 tick chart may look good visually, but you are just following what the 5m (or bigger) charts are doing. They set the tone, and every chart of a smaller size follows.

The 5 minute just makes more sense to me these days. I can see why price did something, and you can't do that with a range or tick chart. If you can't afford to trade a 5 minute, you can't afford to trade.

Mike

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  #7 (permalink)
 MXASJ 
Asia
 
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Big Mike View Post
... If you can't afford to trade a 5 minute, you can't afford to trade.

Mike

The polite expression is "undercapitalized."

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  #8 (permalink)
 spikoloco 
Queretaro,Qro. Mexico
 
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Interesting approach Big Mike, I do find the 5 minute chart very useful though I also trade using 6 renge bars on the ES.... The problem I see is that many people are looking at the 5 minute chart and it causes that many of them jump into a trade at the same time causing some disruptions, I have found that if you set your NT operating hours from 12:00 AM to 11:57PM your 5 minutes charts will look a bit different as the 5 minutes will start 3 minutes prior as the regular 5 minutes...this gives you an edge on your trade by reducing volatility and anticipating some reversals too. I don't know if I made my self clear clear...hahaha....

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  #9 (permalink)
Andrew
sea side
 
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don't think I disagree, but just 2 cents
5 min chart is great, but I know a lot of traders use also 2 min chart +
I've noted that a lot of times meaningful price movements starts just 1 minute before 5 min bar completion, it "sets the tone".
will be glad to know/discuss it more.

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  #10 (permalink)
jsd45
chicago,il
 
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I have been discretionary trading usually es,cl, and some fx. For the most part I use a 5 minute chart. I am trader just out of college, I spoke with a more veteran trader who has had success both in outcry and electronically who uses 15 minutes. Is that to long of a time range? Should I shorten down my range? Any help would be truly appreciated.

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Last Updated on February 22, 2012


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