[captjoe]

Looking at changing my trading time frame from daily set up's with hourly signals to intraday trading the 5 min and 15 min charts. Currently I use a combination of indicators, LR 30-30, MACD, and RSI. MA's. I have a system to look for snap back's up and down for a 2-3 day move.
Now interested in the YM and ES and paper trading it now. It is taking some time to get in the flow timing my entries. I set up my pivots day before and look for zone of confluence. I like to watch the first hour and attempt to spot a trend before I enter. I can't see any short term MA that work consistently and look for S & R at pivots with candlestick signals with confirmation. My issue as price moves away from a possible entry I wait to pull the trigger and miss a trade and if I commit to the signal as soon as it triggers I'm missing a more favorable price. I'm sure most of it is due to the fact I don't have much time behind me watch price action in this short time frame and looking for suggestions how accelerating my learning curve.
Greta Forum Thank You

[sevensa]

Look at the 20 EMA thread here in the Candlestick forum. Unfortunately, there aren't any short cuts. You will just have to spend a lot of time looking at charts. This is the only real way to learn.

[Minis Trader]

Be open to different time frames as well as indicators. When you go from an end of day trader to an intraday trader it takes some getting used to.

Dont discount the power of tick charts (I am partial to the 89 tick) or even 1 or 2 minute charts.

There really isnt a better or worse one for the masses it is what works best for your personality and lifestyle.

[jimbob42]

re tick charts
I assume that an 89 tick chart is faster than say a i minute chart. Correct.
Does this work for other contracts? What time frame do you use for other contracts?

Right now I am attempting to learn about the ES, YM and NQ.
thanks

[Minis Trader]

Originally Posted by jimbob42 »

re tick charts
I assume that an 89 tick chart is faster than say a i minute chart. Correct.
Does this work for other contracts? What time frame do you use for other contracts?

Right now I am attempting to learn about the ES, YM and NQ.
thanks

The 89 tick chart forms a new candlestick after 89 trades have gone off on the stock or other position. During the busier market times an 89 tick on the YM could be the equivelant of 3 to 10 (or more) bars. In the evening session the 89 tick could take quite a while to form one bar.

I also trade "RIMM" and I use the 89 tick for it as well.

[jimbob42]

Thanks for the answer

[OAC]

Originally Posted by Minis Trader »

The 89 tick chart forms a new candlestick after 89 trades have gone off on the stock or other position. During the busier market times an 89 tick on the YM could be the equivelant of 3 to 10 (or more) bars. In the evening session the 89 tick could take quite a while to form one bar.

I also trade "RIMM" and I use the 89 tick for it as well.

Is 89 a Fib number ?

[Kiwi]

21+34= + 34 =

(teach a man to fish )