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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... |
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The choice of time frame is also a choice of life-style for a trader, there is no doubt about it.
I prefer to use lower time frame. The reason is simple:
Only lower time frame can provide many trading opportunities at any market conditions. If you trade 15 or 5-min chart, there are a lot of junk days in ES. If you trade 50 tick chart, there is no junk day at all in ES.