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Old 08-30-2007, 03:42 AM
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Re: How vital is the timeframe that you pick for your charts?

I found that I had a similar problem, deciding what time frame to use. I had setups based on longer intraday swings off a 5 minute chart and I'd time entries off pivots and other key price levels using limit orders.

Then I started looking at 55 tick charts instead but they move so darn fast that I got whipsawed out of positions very often. For my scalping strategies I started to use 89 tick charts instead and found them much more comfortable. However I was still being whipsawed out of positions much to early. The transition to an 89 tick chart from a 55 tick chart didn't reduce the numbers of entries significantly but it did allow me to fine tune my entries better.

I found though that using an anchor chart (5 minute/233 tick) helped a lot more to keep me in the trade if there were obvious trending conditions in the longer time frame chart. I think having a good anchor chart is important as it helps alieviate the "tunnel vision" brown spoke of.

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