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Time frames and charts
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Time frames and charts

  #1 (permalink)
Elite Member
Queretaro,Qro. Mexico
 
Futures Experience: Intermediate
Platform: Ninja Trader, Multicharts
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Time frames and charts

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's Avatar
 
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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)
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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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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

Last edited by max-td; November 17th, 2009 at 04:43 AM.
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  #5 (permalink)
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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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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

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
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6)
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  #7 (permalink)
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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)
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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)
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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)
Trading Apprentice
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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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