Shorter or Longer Time Frames 4 Success? | Forex Factory

Options

Permalinks
Print Thread

Similar Threads

Importance of longer-term time Frames 6 replies

Indicator won't work on longer time frames 0 replies

Longer Time Frames 18 replies

Position trading - Longer Time Frames 7 replies

Using Longer Time Frames and EMAs... 5 replies

Shorter or Longer Time Frames 4 Success?

  • #1
  • First Post: Nov 28, 2006 2:16pm Nov 28, 2006 2:16pm
I know we all have to find a time frame that is compatible with our personality...I like several!

I would just like to know if people who are comfortable with multiple time frames find it easier to make money on shorter or longer time periods.

I am convinced it is possible to make money day trading on a 5 or 10 minute chart and holding for an hour or so but haven't been able to do it successfully.

Using a 15-60 minute chart entry and holding for several days is what I have currently settled on but I so badly want to extract those short term day trade pips as well.

Anyone else have this problem?
  • #2
  • Nov 28, 2006 2:33pm Nov 28, 2006 2:33pm
No brainer, Jim put me onto the daily charts and I haven't looked back.
Maybe a look at the 4 hour chart for trendline breaks as entry points.
Quoting jmbtx
I know we all have to find a time frame that is compatible with our personality...I like several!

I would just like to know if people who are comfortable with multiple time frames find it easier to make money on shorter or longer time periods.

I am convinced it is possible to make money day trading on a 5 or 10 minute chart and holding for an hour or so but haven't been able to do it successfully.

Using a 15-60 minute chart entry and holding for several days is what I have currently settled on but I so badly want to extract those short term day trade pips as well.

Anyone else have this problem?
  • #3
  • Nov 28, 2006 2:37pm Nov 28, 2006 2:37pm
IMHO
if you are new to trading you shouldnt touch anything under 4hr chart...95% of losing traders are trying to trade short timeframes and lose in the long run...but you didnt hear from me
I do daily and 4hr ....
  • #4
  • Nov 28, 2006 2:43pm Nov 28, 2006 2:43pm
...daily is the king
  • #5
  • Nov 28, 2006 3:11pm Nov 28, 2006 3:11pm
Longer is better...................



Rsq
  • #6
  • Nov 28, 2006 6:12pm Nov 28, 2006 6:12pm
Totally agree, daily and 4hr charts for me too. I sometimes use 1hr charts, but only for entry.

Anything lower and you'll be banging your head against the wall in frustration.

The longer the time frame, the more reliable your signals will be.
  • #7
  • Nov 28, 2006 6:17pm Nov 28, 2006 6:17pm
trading on shorter timeframes gives you ulcer..for your health's sake..trade the daily
  • #8
  • Nov 28, 2006 8:06pm Nov 28, 2006 8:06pm
Daily for knowing trend direction, Intraday for entry.
Of course this method can be used in another time frame such as:
Weekly for trend, daily for entry or
M30 for trend, M5 for entry
but then we must calculate probability for the profit and the risk.

Shorter TF makes lower probability but Longer TF makes higher one.

Choose wisely!
  • #9
  • Edited 11:19pm Nov 28, 2006 10:56pm | Edited 11:19pm
I like the rythym of the 60m charts, might be crazy, but they feel right to me. One thing that i feel strongly on is that when researching time frames the 4 hr seemed to have pros and cons...but for me the fact that there were so many different 4hr hour candle versions/data that threw me off and got me looking at the hourly as a more universal time frame, though i do trade off shorter ones for breakouts during news, but daily S/R levels as a primary mode.

: ) Thom
  • #10
  • Nov 28, 2006 11:47pm Nov 28, 2006 11:47pm
Yep Thom, same thing here, I can't make peace with 4H charts, every broker has its own version of 4H data based on week open time. Oh and if you zoom out 1H charts enough you get 4H charts

Quoting accrete
I like the rythym of the 60m charts, might be crazy, but they feel right to me. One thing that i feel strongly on is that when researching time frames the 4 hr seemed to have pros and cons...but for me the fact that there were so many different 4hr hour candle versions/data that threw me off and got me looking at the hourly as a more universal time frame, though i do trade off shorter ones for breakouts during news, but daily S/R levels as a primary mode.

: ) Thom
-soso
  • #11
  • Nov 29, 2006 12:24am Nov 29, 2006 12:24am
Same for me as well....always trade hourly.
Capital Preservation is key to long term wealth accumulation
  • #12
  • Nov 29, 2006 12:56am Nov 29, 2006 12:56am
I use all the time frames =), i liket them all, if you take the daily one you have nice trends.

If you take the minutes ones, it seems like the market is always crazy =)

so I look at them all!!!
  • #13
  • Nov 29, 2006 1:12am Nov 29, 2006 1:12am
Quoting biwy
I use all the time frames =), i liket them all, if you take the daily one you have nice trends.

If you take the minutes ones, it seems like the market is always crazy =)

so I look at them all!!!
same same.

monthly-weekly for trend and key levels. daily for trend and price patterns, support and resistance. 4 and 1 hr for price patterns and setups, 30 and 15 min to refine entries.

only use the 5 and 1 minute during big news days, otherwise, its noise
With a break always expect a pullback, otherwise, you're dead meat/
  • #14
  • Nov 29, 2006 1:41am Nov 29, 2006 1:41am
Care to share your setups for the Daily and H4?

What indicators and values? And how do you decide?
  • #15
  • Nov 29, 2006 1:44am Nov 29, 2006 1:44am
Quoting BurgerKing
Care to share your setups for the Daily and H4?

What indicators and values? And how do you decide?
no indicators, only price action and fibs.

if trend is up, look for continuation patterns....flags, pennants and so on. if pattern is a reversal, need to get a trend break, no trendbreak no reversal.

always wait for breakout, read price action at the break, to see if it is a rejecton or not. wait for pullback, place order at breakout level. should simply go in your favour.

my 2 cents
With a break always expect a pullback, otherwise, you're dead meat/
  • #16
  • Last Post: Nov 29, 2006 5:05am Nov 29, 2006 5:05am
I use 5 minute charts for momentum trading, along with MACD for price confirmation either up or down. On this setup I only trade breakouts that give me 20-30 pips in an hour, if not less.
For 240 minutes or daily I use RSI and hourly chart for price entry confirmation and go with the flow.

Happy trading
May the pips be with you!
0 traders viewing now