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What time frame do YOU use and WHY?


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What time frame do YOU use and WHY?

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  #131 (permalink)
67belvedere
Indianapolis, IN
 
 
Posts: 34 since Jun 2021
Thanks: 19 given, 7 received

That makes a lot of sense. Earlier this year I had enough to trade those but lost almost all of it. Poor discipline, giving up too much/ trade, not using stops/ and hanging in there until the price "came back", turning trades into investments. That method worked for me with small cap stocks until Feb when the market changed. An expensive education. If I get better at this I might add to my account and try the NQ. Corn pays $12/ point, mini nat gas too. But they don't compare to NQ in liquidity.

Thank you !
Bel

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  #132 (permalink)
redbarntrades
Kalispell=Mt./USA
 
 
Posts: 145 since Sep 2019
Thanks: 263 given, 317 received


67belvedere View Post
That makes a lot of sense. Earlier this year I had enough to trade those but lost almost all of it. Poor discipline, giving up too much/ trade, not using stops/ and hanging in there until the price "came back", turning trades into investments. That method worked for me with small cap stocks until Feb when the market changed. An expensive education. If I get better at this I might add to my account and try the NQ. Corn pays $12/ point, mini nat gas too. But they don't compare to NQ in liquidity.

Thank you !
Bel

Hi, you can always trade the MNQ to get your feet wet and get used to it?

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  #133 (permalink)
 dannyinhouston 
Houston Texas
 
Experience: Intermediate
Platform: NinjaTrader
Trading: CL, YM, NQ, ES
 
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67belvedere View Post
But they don't compare to NQ in liquidity.

Thank you !
Bel

Liquidity is not the issue here.

Tell me about:

1. Your top three setups
2. Your risk management strategy
3. When do you trade?
4. Why do you trade?

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  #134 (permalink)
 vjsnews 
Coolangatta , Australia
 
Experience: Intermediate
Platform: E signal
Trading: ES
 
Posts: 5 since Jun 2013
Thanks: 18 given, 8 received


RagBadger View Post
Hi guys,

I'm trying to generally gauge what other people are using in terms of time frames? I personally use anything about a 15 minute chart to avoid a bunch of the noise.

What do you guys use?

To trade the E mini and Forex I use TWO.
I base the direction of the market on the 5 minute chart and then use the 1 minute to better refine my entry.

Before I trade I have a more "global look" by looking at the 1 hour and 30 minute charts to get a broader picture of the lay of the land so to speak.

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  #135 (permalink)
redbarntrades
Kalispell=Mt./USA
 
 
Posts: 145 since Sep 2019
Thanks: 263 given, 317 received


vjsnews View Post
To trade the E mini and Forex I use TWO.
I base the direction of the market on the 5 minute chart and then use the 1 minute to better refine my entry.

Before I trade I have a more "global look" by looking at the 1 hour and 30 minute charts to get a broader picture of the lay of the land so to speak.

I have a similar approach to you. 5/1 minute. 15/240 for eagle view. I overlay a 15 minute 20sma onto my 5 minute chart as price often bounces off that sma and I can have an quick reference point without looking up at the 15 minute chart. . My wife and I only trade the MNQ. She uses the 5, 30 and 240.

You have a beautiful place to trade from there on the Gold Coast. My wife grew up there. I have been by your town on the way to Byron.

Best regards from the mountains of Montana!

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  #136 (permalink)
67belvedere
Indianapolis, IN
 
 
Posts: 34 since Jun 2021
Thanks: 19 given, 7 received

Redbarn,

Do you have a risk management plan? I have decided to call it quits on any day I'm $125 in the red.

- Bel

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  #137 (permalink)
redbarntrades
Kalispell=Mt./USA
 
 
Posts: 145 since Sep 2019
Thanks: 263 given, 317 received


67belvedere View Post
Redbarn,

Do you have a risk management plan? I have decided to call it quits on any day I'm $125 in the red.

- Bel

Max loss per day is similar. In the past, when there were too many loss days, then I stopped and went back to the drawing board.

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  #138 (permalink)
 vjsnews 
Coolangatta , Australia
 
Experience: Intermediate
Platform: E signal
Trading: ES
 
Posts: 5 since Jun 2013
Thanks: 18 given, 8 received


67belvedere View Post
Redbarn,

Do you have a risk management plan? I have decided to call it quits on any day I'm $125 in the red.

- Bel

You cant give a Dollar figure. It is a PERCENTAGE of your account and should be 1% and a maximum of 2%.
When tied to where your STOP LOSS should be this then determines the SIZE OF YOUR CONTRACT

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  #139 (permalink)
redbarntrades
Kalispell=Mt./USA
 
 
Posts: 145 since Sep 2019
Thanks: 263 given, 317 received


vjsnews View Post
You cant give a Dollar figure. It is a PERCENTAGE of your account and should be 1% and a maximum of 2%.
When tied to where your STOP LOSS should be this then determines the SIZE OF YOUR CONTRACT

I can't? But I just did!

67belvedere was referring to a daily loss limit. It appears that you are referring to loss per trade.

Yes, your formula is advantageous for when starting out. Any conservative restraints are good in the beginning as one is in the learning process of figuring out their own psychology and abilities.

Some traders will risk their whole account on a trade.

They might say that "what's the point of the funds just sitting there doing nothing'?

Safeguarding our account is a good thing, however, it is a moot point when one's personal wealth might be 100 times greater than said account.

The market loves the 1 and 2 percenters. They provide liquidity.

Cheers!

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  #140 (permalink)
partialfraction
Charles town, WV
 
 
Posts: 5 since Aug 2021
Thanks: 0 given, 0 received


I prefer Range bars or a deviation of range. It removes the time element, as well as helps avoid some chop, without force smoothing things out like the Renko charts do.

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