Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
I do play indexes on a long term basis, YM but also NQ and ES.
I use the monthly, weekly and daily charts for this, and my technical analysis uses the same techniques that I would use on intraday minutes, ticks or volume charts...
I don't think you would need different methodologies compared to day trading, only your risk management and position sizing would differ to accommodate the wider swings of higher time frames.
That's of course if you want to restrict yourself to technical analysis.
But if you wish to venture in fundamental analysis, I highly recommend you read the book "Security Analysis" from Benjamin Graham.
Successful people will do what unsuccessful people won't or can't do!
I trade the YM intraday and on occasion I'll hold for a period of a few days or even weeks. Typically the only time I'll hold is if we have hit a significant support/resistance zone with a clean rejection. I also like if the Transports are in a trend with my trade. If on the daily or weekly charts we're an important zone I'll drill down to anywhere from a 5 minute to a 60 minute chart to look for an entry to keep my risk small.
