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favorite timeframe for intraday / taking entry point against MA


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favorite timeframe for intraday / taking entry point against MA

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 ptcm 
Taiwan
 
Experience: Intermediate
Platform: MC
 
Posts: 77 since Jun 2010
Thanks: 8 given, 17 received

Just wondering if what's the favorite time frame you guys are using for your intraday trading ? ES, CL,

I am currently using 1,2,5,15 min,

Specifically 2 min for entry, 1 and 2 min for exit, 5 and 15 min for general trend direction.

I remember big mike in 1 of his trading videos once talked about he would NOT take long entry below moving average and vice versa. can't remember if it was 5 min chart? (Price Action on CL (Crude Oil Futures) Tue Apr 20th)

From my experience in trading Hang Seng futures intraday, forward testing results indicate that (especially within 1 hour after the OPEN)

Pros:
you would save a lot of money taking entry at premature reversal levels

Cons:
your entry would be a little late, and unlikely to catch those perfect reversed breakouts signals generated at slow stc levels ie 20/80

net net which one is better I don't know. Mike, can you share your view on this ?(no longs below your 20EMA / vice versa)
How did you end up having this conclusion of not taking counter-trend entry points ?

many thanks...

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 Big Mike 
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I believe @Fat Tails has covered this quite extensively already:



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Last Updated on November 9, 2010


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