hi,
i trade intraday and have always used a higher time frame to determine the trend and a lower time frame for entry/ exit....in doing this i have noticed that i was missing on good trading opportunities simply because the higher time frame was not allowing me to enter a trade.
recently a friend suggested i use just one time frame...could be 2,3,5,10 or 15 minutes and never look at another time frame...have been trying this from 2 weeks...and it works....there are other ways of telling if the market is bullish or bearish.
i think multiple time frames are for BTST and swing traders who hold positions overnight or a few days....for intraday traders, it could mean an endless wait for the higher and lower time frame to agree resulting in missed opportunities and/ or not trading at all out of fear.
i posted this because a lot of intraday traders use multiple time frames.
any thoughts/ opinions?
thanx,
newbie_7
i trade intraday and have always used a higher time frame to determine the trend and a lower time frame for entry/ exit....in doing this i have noticed that i was missing on good trading opportunities simply because the higher time frame was not allowing me to enter a trade.
recently a friend suggested i use just one time frame...could be 2,3,5,10 or 15 minutes and never look at another time frame...have been trying this from 2 weeks...and it works....there are other ways of telling if the market is bullish or bearish.
i think multiple time frames are for BTST and swing traders who hold positions overnight or a few days....for intraday traders, it could mean an endless wait for the higher and lower time frame to agree resulting in missed opportunities and/ or not trading at all out of fear.
i posted this because a lot of intraday traders use multiple time frames.
any thoughts/ opinions?
thanx,
newbie_7