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anyone using charts 20,30,45,1hr,2hr,4 hr in their trading?


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#1 traderx

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Posted 17 May 2020 - 09:51 AM

Curious for   day trading, swing , etc?

What do you use and how do you use it, or what sources?

Thanks in advance.

 



#2 .Blizzard

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Posted 17 May 2020 - 11:55 AM

180,60,30,5,1
 
 
 


#3 Entropy3.0

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Posted 17 May 2020 - 12:32 PM

2,5,10, 60 ...day trading...primarily trades of  10-30 minutes...I don't swing trade...occasionally very long position type trades.(multi month).

Source stockcharts & ThinkorSwim(Ameritrade) (good to have 2 sources as backup/sanity check)

How I use them - my system is proprietary, but what works pretty well - momentum, bollinger bands, price channels....anything giving clear/simple entry/exit.

Some less obvious things to consider - the shorter the trading timeframe, the more 'real time' your system needs to be, the more accurate your entries/exits need to be.

Also, no backtested signal/system works same in real(forward) time, so If I use something new, I start with small position size until all the 'gotcha's show up.


Pick a system, follow the system, ignore everything else.

#4 traderx

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Posted 17 May 2020 - 01:13 PM

thanks

Do you trades whole session, or mainly something like 9:30- 11:30 and 2-3;30?



#5 K Wave

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Posted 17 May 2020 - 01:19 PM

I use 1,3,5,15,30,60,120,240....Daily, Weekly, Monthly for additional guidance for which direction wedge setups are most likely to break.

 

I have found that 4 hour charts are much more effective on futures charts than cash....likely due the 24 hour nature of futures vs the 240 getting chopped up in the cash hours.

 

When the short term term time frames are not in sync, I go to scalp mode, and play between the "jaws of the alligator".

 

Then when they enter Synchronous Cyclicity™ setups, I go into swing mode.

 

Currently 15 min (a good mutli-day trade time frame) chart in the jaws in most cases.

 

When it breaks out, and 1,3,5,15 all Synchronously align, we should get a good swing move soon....

 

In fact, when the 15 breaks out, good chance 30 min will align as well. Still some hourly overhead to deal with in most cases if we go up from here.

 

The more time frames aligning, the better the odds of a good solid move....

 

And some of the best trades can actually come from setups where everything gets all lined up...but then it fails...

Market usually goes the other way in a hurry on those occasions. Silver in February a classic example of this scenario. Got all lined up for a breakout and then 1 by 1, the various time frames aborted their buy signals, as a complete reversal and plunge took hold.

Platinum was also very helpful in that case as it broke hard before Silver did, giving a heads up.

Always good idea to keep an eye on related parties. I see way too many traders only focused on 1 target, and missing important clues being constantly provided by related parties...When related parties are not "in sync", usually a time not to get over committed to a direction...

 

And the biggest key is to adapt to the current environment being presented. "Systems" often have a real problem with this adaptation. They work great in one type of environment, but suck in another.

For instance we are now in an entirely different environment than we were in March when 1000 point YM "scalp" trades could be done because the spread between the shortest term MAs was so extreme.

Now the scalps are a fraction of that. Still good with VIX still elevated, but a fraction of that Amazing action in March.


Edited by K Wave, 17 May 2020 - 01:21 PM.

What A Beautiful Black Sky


#6 Entropy3.0

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Posted 17 May 2020 - 01:27 PM

thanks

Do you trades whole session, or mainly something like 9:30- 11:30 and 2-3;30?

Personally, I avoid the 'exciting' times -  which is 8.30-10am ..and 3.40-4pm ...those are period most likely to have signal failures/stop runs etc.


Pick a system, follow the system, ignore everything else.

#7 Darris

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Posted 17 May 2020 - 06:11 PM

Pick a system, follow the system, and ignore everyone else, to copy Entropy3.0.  1st you have to choose what time frame you have the time to trade and monitor.  Every system I have ever created makes money.  However, you want to have a few things that are daily and weekly based just to lower your day trading position size if they are a little weak or outright bearish.  For example, if the instrument you are trading is above the 10 day exponential moving average, then you want all your day trades to be primarily on the long side when dips occur, and if not, lower your position size and for every 9 trades long you might want to mix in 3 trades short.  My rule is that 66% of my trades should be to the long side.  Trade Station and ThinkorSwim are the two platforms that seem to offer the best values for overall cost with good charts.  Here is my proprietary system (wink) at ToS platform.  This example is a 30 minute chart for all of last week into the open tonight for the ES futures contract.  Credits go to many people that have posted various indicators over my trading career, and I have used a lot of "Above the Green Line@AboveGreenLine" settings on twitter.  The Bull/Bear definitions are as follows:

Moving averages: 12ema and 48ema. 12 abv 48 bull.  In a trend watch for ES PRICE to pull back to either ema for KoL=Kiss of Life, or when below rise to ema for KoD=Kiss of Death.

Pivots: Standard setting for R2 R1 PP S1 S2.  R1 PP S1 have higher probability to get hit almost every day.  If the day session opens at a S2 or a R2 go get a cup of coffee for 30-60 minutes

CCI-89: (This is for the 30 minute chart as there are 23 30 min ES bars per day, 23x4=92, and 89 is the closest Fib number, and this covers a 4 day window of price action).  When CCI>0=Bull, below caution. CCI<-100=Bearish. CCI>+100 really bullish, If CCI>150-200 look for a reversal down, and if below minus 150-200 look for a reversal up in an hour or two.  Getting these CCI extremes end of day are an auto go flat signal for me. If you want to use an hourly chart you can change the CCI setting to 55 (next lower Fib number) or if you want less trades then bump it up to 144.

StochasticsSlow 88,22,5,1: 5 period smoothed with 1 period, look for OB at 88+ to sell, look for 22 or lower to cover and reverse long.

RSI-4,85,15: Relative Strength 4 period, look to sell at 85+, look for 15-20 or lower to cover and reverse long.

As for Monday March 18th, trading above ES 2876 at any time from now until 4:15pm close tomorrow is very bullish.  Daily and Weekly all hell breaks loose to the upside on a weekly close above SPX cash 2950.  Good Luck.JG6ToG.jpg



#8 flyers&divers

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Posted 17 May 2020 - 09:56 PM

I use three platforms. IB,  AMTD-TOS and TC2000. At IB and AMTD I have accounts and TC2000 because it is the most versatile by far. In TC2000 one can create studies of studies which open up dimensions

most traders simply can't imagine.

I use 1,5,15, 30, 60, 120min, D, W, Q charts. I am basically a swing trader even if I have options or option spread positions on. 1 and 5 min charts to time entries that the 15, 30, and 60 min chart OB OS extremes locate. I keep an eye on the daily for context and the weekly and quarterly for general context, earnings, dividend trends etc. I am not supposed to enter trades that do not fit into the swings/trends defined by the oscillators. 

 

Naming each time frame one uses does not really give a clue how one methods work. A one minute chart with very long input may work as a 60 min with canned inputs. In my experience the 15 and 30 minute charts with canned indicator settings are good for swing trading.

 

I am a big fan of volatility bands  which more or less create a moving channel for the price to bounce around in and using bound and unbound oscillators to find topping and bottoming areas. I only draw trend lines to tops and bottoms defined by oscillators. While I don't follow Elliot Waves I have a very precise quick method to define what a swing is. No ambiguity or alternate counts. If one is not clear the next longer time frame will decide. I use the extremes of oscillators to define tops and bottoms on each time frame. The RSI Wilder oscillator on Darris's chart above neatly points out highs and lows. I use something similar. Never mind that each trading vehicle will show a different zigzag. Patterns like channels and flags and other structures emerge and the relative strength of the different issues is revealed.

 

There are a couple of very useful studies that measure or illustrate the strength of something compared to itself (in the past), a peer or a group or market. Also there are several very useful studies deriving measurements from volume and the vibrations of the urgency of traders create within each price bar. There are times when those two types are screaming that there is a major shift coming or the trend will very likely to continue. When combined with the price structure defined by swings the probability of making a successful trade increases.

 

I do day trade sometimes, specially if I have position on in something and there is a large opening gap in my favor. I always fade it.  Putting on a position piecemeal, legging into option spreads is day trading too because one gaming the market multiple times so one has to be alert. 

 

There is perfection in the universe and also in price movement. In price movement the intensity and velocity is constantly changing and we are not trained or mentally clear enough to make it out but one can try. The more extreme the price action is one should be switching into shorter and shorter time frames. Price movement is fractal. In fact if one looked at a 15 second chart of ES or Crude Oil on an active day one may see the very same same patterns emerge as one would see on a daily chart of Cocoa prices for 1932. 

 

It took me a very long time to work out, basically invent a practical realistic price model that works and suits my personality and now I can be at peace when trading, knowing what should happen and exactly what I am supposed to do at all times even if i don't execute well. I don't post a lot on the board because I have my own language for every aspect of price movement and part of my method and it would be Greek to other people.

 

The ideal most powerful price move is straight up or straight down.  After 55 yrs of trading I think I am close to be able to trade a running market. As a former floor trader I reflectively want to fade every move. Finally I have stopped doing that and the next step is take trades in issues where the price is cruising outside the volatility bands.

 

Regards, 

F&D

 

 


"Successful trading is more about Sun Tzu then Elliott." F&D

#9 traderx

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Posted 22 May 2020 - 03:36 AM

thanks to all



#10 traderx

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Posted 27 May 2020 - 06:05 AM

what type of stops profit and loss do you use?