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Hey guys,
Just wanna get some input here.
So... I'm a day trader at the moment... strictly ES.
I want to transition to swing trading in the future but unfortunately I lack the adequate capital for it right now.
And lately I've been thinking....
For those who day trade... is the hourly time frame even worth it?
Because at this point I'm thinking, as is the general rule, the shorter time frame, the more noise.
I USED to think the hourly was a noise filter.
But lately I've been chatting with a fellow swing trader and I've got to thinking......
I should ditch the hourly and stick strictly to the 4 hour as my primary and the daily as my directional so to speak.
Legendary / Stochastic Calculus is not your friend
Experience: None
Platform: Ninjatrader, Python API
Broker: CQG
Trading: S&P, Crude, Gold
Posts: 851 since Oct 2009
Thanks Given: 3,418
Thanks Received: 1,537
@mzelixon hourly is fine....lots of good setups on the ES....but, are you using other tools in your arsenal?...vwap? volume profile?...etc. I use daily, hourly and 15 min charts, the 15mins are for my setups just as much as the hourly.
Hey Devil Man, thanks for responding.
My strategy is very simple.
I don't use any indicators or anything like that, I only rely on pure price action.
Trends and S/R levels.
I think 15 min may be too much for me but the hourly is good... I think it's just a matter of discipline and patience and controlling my impulses... which is a huge stumbling block for me.
But yeah, thanks for the response, and feel free (I would appreciate) to give me feedback on what I just wrote.