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How to move up a timeframe ?
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How to move up a timeframe ?

  #1 (permalink)
The Narrow Road
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How to move up a timeframe ?

I'm interested in moving up a timeframe. It is not possible to consistently capture the meatier moves of any instrument using 1 min charts.

a. you lose perspective of the bigger trend
b. you get shaken out on small pullbacks
c. there are too many signals => too many trades

Moving up a timeframe sacrifices a certain amount of price for directional information. This is a good trade.

Does anyone have any tips as to how they did it ??

p

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  #2 (permalink)
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  #3 (permalink)
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I've never looked at 1min chart, but that's of course irrelevant
The general idea is that the larger the time frame, and less the effect of spot news, events, and so on on the overall trend and price direction.
If you are trading a 1min chart any news release will sway you out of your position, even temporarily just to trigger your stops perhaps and then revert back to original course and direction.
If on the other hand, you are trading a 60min chart or a daily chart, the chances that intraday news and events shake you out are much lower.
Also, with a higher time frame, you will take less trades, and block a bigger chunk of gains versus commission, so overall business costs if you want are leaner in that sense.

What I personally do is always trade with three different time frames open at all time and also visible at all time, side by side.
I have decided to use a factor of 3x more or less between each time fame.
Let's say 5min, 15min and 45min or maybe 10min, 30min, and 90min and so on...
On tick charts, I also use the same logic; 5000 ticks, 15000 ticks and 45000 ticks for example.

I had also experimented with a factor of 5x in the past, but then I reverted back to the factor of 3x.
That’s only personal.
To be honest, I also replace the figure I get with the closest standard time frame available, so instead of a 45min chart for instance I use the hourly chart which is pretty standard and so on…

The idea, is that I trade the patterns and levels off the middle time frame, with continuous reference to the lower time frame for tweaking the exact entry and also in reference to the higher time frame for overall direction (long or short).
Also, another important concept that I’ve developed over time, is that a resistance or support area on the higher time frame is of more importance than the one on the lower time frame.
If for instance I have a resistance at 91$ on the hourly, while the study of my 10min chart shows resistance at 90$; I will assume price can go past 90$ and reach 91$...

Finally, moving up in time frames, you will need to reduce position size as your stop theoretically widens.
If you are using a 2 points stop on the ES on a 10min chart, you will not be able to maintain that on the 60min chart, where you need at least 4 or 5 points, and so on. (the example is only for illustration purposes)

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  #4 (permalink)
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10 tic on CL for me please. Counteracts white noise,MM,HFTS, snow rain blizzard.
20 tic as a glancer,overall trend.

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  #5 (permalink)
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Just do it !
I like Kase bar and tick charts myself with the tick count being at least 2000. That being said I would recommend going to at least 5m if not 15m and make your stop placement accordingly.
I've never tried 1m...seems like insanity to me.
Generally speaking your stops will be larger in relation to the time frame...I might use something in the neighborhood of twenty ticks for a 15m or 30m for example. Just something your going to have backtest/papertrade kind of thing to find what works for you.
I suspect you are using 1m to keep your losses small. You are just going to have to get used to taking a little more "heat" but you'll figure it out.

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  #6 (permalink)
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Thinking in Multiple Time Frames

Example of using multiple time frames shown in these images from The Klowne Roome®.

Daily and weekly charts should also be kept in mind.

Special thanks to @Fat Tails and @gomi for pivots and market profile levels used on these charts.

One of the many good things about the videos at emini-watch.com is showing how Barry Taylor uses multiple time frames in TradeStation.

After a while you learn how to relate the big bumps on the fast chart to the small bumps on the slow chart.

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Last edited by Zondor; January 31st, 2014 at 11:40 AM.
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  #7 (permalink)
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Zondor View Post
Example of using multiple time frames shown in these images from The Klowne Roome®.

Daily and weekly charts should also be kept in mind.

Special thanks to @Fat Tails and @gomi for pivots and market profile levels used on these charts.

One of the many good things about the videos at emini-watch.com is showing how Barry Taylor uses multiple time frames in TradeStation.

After a while you learn how to relate the big bumps on the fast chart to the small bumps on the slow chart.


Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).



Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Broken links. No images. What is the Klowne Roome? Who's the moderator? Charlie Brown!!!

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  #8 (permalink)
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Images not visible

Ask Big Mike if there is a problem with the images. When I look at my post, both the original and the one quoted by the last poster, I see both images.

The Klowne Roome® is an impromptu screen sharing session done by "Sander" who posts the link thereto, which is different each time, in the futures.io (formerly BMT) Chat boxxe.

"If we don't loosen up some money, this sucker is going down." -GW Bush, 2008
“Lack of proof that something is true does not prove that it is not true - when you want to believe.” -Humpty Dumpty, 2014
“The greatest shortcoming of the human race is our inability to understand the exponential function.”
Prof. Albert Bartlett
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  #9 (permalink)
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Zondor View Post
Ask Big Mike if there is a problem with the images. When I look at my post, both the original and the one quoted by the last poster, I see both images.

I see no images either, just the place holders. In my experience this occurs if a post has been cut and pasted and/or moved after the images were first uploaded. There may of course be many other technical reasons or it's a hysterical hallucination, I used to have many before I got the tablets.

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  #10 (permalink)
The Narrow Road
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ratfink View Post
I see no images either, just the place holders. In my experience this occurs if a post has been cut and pasted and/or moved after the images were first uploaded. There may of course be many other technical reasons or it's a hysterical hallucination, I used to have many before I got the tablets.

if it were just you Rats .. I would go with the hallucination .. :-)

p

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