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Taiwan
Experience: Intermediate
Platform: MC
Posts: 77 since Jun 2010
Thanks Given: 8
Thanks Received: 17
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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? ([AUTOLINK]Price Action[/AUTOLINK] 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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