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Toledo, OH
Posts: 41 since Nov 2012
Thanks Given: 16
Thanks Received: 46
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Hello,
Those with the best of intentions may unintentionally mislead you here. I would proceed with caution even at a great forum such as futures.io (formerly BMT).
Price moves in fractals, so a pattern will show up in a 1 min chart before it does in a 5 min. If you are a price pattern trader, higher timeframes give a better feel for market structure and long term support and resistance. That alone is a good reason to have higher timeframe charts on during daytrading. Using samller timeframes charts for entries keeps stops tight and high timeframe perspective keeps you in the trade longer. As a result, you accomplish two critical ideas in trading...small stops and a longer target perspective.
The choice of timeframes depend on your capitization, trading style, instrument etc.. This is where the discussion gets tricky. I recommend internalizing one instrument and timeframe first. 30 min into 5 min into a smaller tick/ range for entries. The rest depends on your hardwork and developing your beliefs. No one else can help you here.
Good luck!
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