Traders Laboratory - View Single Post - How vital is the timeframe that you pick for your charts?
View Single Post
  #4 (permalink)  
Old 08-30-2007, 12:21 AM
brownsfan019's Avatar
brownsfan019 brownsfan019 is online now
brownsfan019 is happy football season is finally here! Go Browns!

 
Join Date: Jan 2007
Posts: 2,292
Thanks: 59
Thanked 144 Times in 91 Posts
Re: How vital is the timeframe that you pick for your charts?

I should have included in the original post that what timeframes you chose can also lead to a 'quality of life' discussion as well. What I mean is, when trading off a 15 or 30 minute chart, you have time to plan your trade out and implement when the time is right. You can take some time and strategize. It's a little easier mentally if you ask me, esp when you compare that to a chart that is printing candles every 20-30 seconds! Obviously there's a big difference there and that might be what the doctor ordered. It's a huge mental drain, for me at least, when taking 100+ trades per day manually. That will really wear you out some days. And then when I look at a 30 minute ES chart from today and see 4 nice trades, 3 winners, 1 small loser and a nice day of profits. Now, I may make more on a scalper method, but then it's a discussion of whether those few extra points were worth it in the end...

__________________
Click here to donate to my 2008 Leukemia and Lymphoma Society donation page. Each year I do a fundraiser for my significant other's family as she lost her father to blood cancer. Please consider a donation, regardless of big or small and help this worthwhile cause.
Reply With Quote