Topic: For Daytrading which time frame suits best? (Read 781 times)
From my own end, day trading need much experience from the trader and with the ability to analyze TA and almost staying with the market because of the market volatility, from what I can deduce from the best time to trade, there's no best time to daytrading rather must be at alert for the whole 24hours and also keeping up with other experts on the price movement.
I trade daily and depend on many different candles, not necessarily a 1h or 4h frame. I think that to succeed when daily trading requires a lot of experience and how to analyze the market
I don't think you can be successful in day trading if you take out the impact of different timing interval (hours) for granted this is because each candle sticks formation is dependent on each hours you set it to be. I do agree with you that knowledge about trading is required but the said knowledge is about how the candle sticks is form and that depend on the timing interval.
Day trading is one of my favorites as I do make good trading decision in most cases when compared to a long time trading prediction. Since you choose to trade during the day one thing is very important which is the timing this is because, the market could be in negative on 4 hours and maybe in profit on 1 hours trading charts so, you really need to know which of the time period is good for just the you prefer day trading over long time trading.
I have plans for long term but would also be great to earn every day in trading. The indicators signals the different course of action when I'm in the daily chart but shifting to 4hour and 1hour tells something else. How do you read the chart on different time frame accompanied with the indicators you only knew using like the RSI?
I trade daily and depend on many different candles, not necessarily a 1h or 4h frame. I think that to succeed when daily trading requires a lot of experience and how to analyze the market
I don't think you can be successful in day trading if you take out the impact of different timing interval (hours) for granted this is because each candle sticks formation is dependent on each hours you set it to be. I do agree with you that knowledge about trading is required but the said knowledge is about how the candle sticks is form and that depend on the timing interval.
I trade daily and depend on many different candles, not necessarily a 1h or 4h frame. I think that to succeed when daily trading requires a lot of experience and how to analyze the market
I have plans for long term but would also be great to earn every day in trading. The indicators signals the different course of action when I'm in the daily chart but shifting to 4hour and 1hour tells something else. How do you read the chart on different time frame accompanied with the indicators you only knew using like the RSI?
If you are a day trader, every day is a trading day. Day trading is quite hard to manage if we are not a full-time trader, it is very important to always on the track of our trades otherwise we miss something. Every fluctuation is very important in day trading and we need to take it seriously..or lost everything you have..
As you said, numbers and events, value changes are very important for trading day, and almost all of these factors belong to random time frames, and so, we don't have a fixed time frame for trading the day, opportunities depend on our perspective and analysis, combined with the information we receive. Many time for these numbers, we will make more profit, less time for it, trading day will turn into disaster for us, so the rule is not to set a fixed time for trading day, fixed will create limited space, affecting the process of analyzing and seeking income
If you are a day trader, every day is a trading day. Day trading is quite hard to manage if we are not a full-time trader, it is very important to always on the track of our trades otherwise we miss something. Every fluctuation is very important in day trading and we need to take it seriously..or lost everything you have..
I have plans for long term but would also be great to earn every day in trading. The indicators signals the different course of action when I'm in the daily chart but shifting to 4hour and 1hour tells something else. How do you read the chart on different time frame accompanied with the indicators you only knew using like the RSI?
Short term is so stressful mate. Wherein you must have a lot of time for it because market is so volatile without knowing .. Actually doing technical analysis is always the best strategy but i still suggest to obtain more information from some expert before making a move. because you know market is so unpredictable nowadays.
I have plans for long term but would also be great to earn every day in trading. The indicators signals the different course of action when I'm in the daily chart but shifting to 4hour and 1hour tells something else. How do you read the chart on different time frame accompanied with the indicators you only knew using like the RSI?
There are 3 types of trends, Main trend, Middle trend and Small trend. Main trend referred to higher TF, Middle trend to middle TF and small trend to lower TF. For day trading maximum 1 Hr TF to chose, any TF lower to 1 Hr can be traded. It is very much possible to find different trend on different TFs at the same time. If its uptrend on daily TF, there may be downtrend on 15 minutes or 1 hr TF. Idea is we need to follow the bigger trend. If there is uptrend on Daily TF, we must look for buying opportunities on lower TF. Chances of success are higher for the trades taken in accordance with higher TF, although one can go for counter trend trade but good experience is required for such trades.
I have plans for long term but would also be great to earn every day in trading. The indicators signals the different course of action when I'm in the daily chart but shifting to 4hour and 1hour tells something else. How do you read the chart on different time frame accompanied with the indicators you only knew using like the RSI?
I think the best time of the market is during the days when there are lots of activities going on in the market. It is just like you trying to buy something in a clothing market, it is usually in the morning and noon that people get the best of designs that the shop owner just brought, by the time is getting to evening, you will end up buying some old stocks left.
I have plans for long term but would also be great to earn every day in trading. The indicators signals the different course of action when I'm in the daily chart but shifting to 4hour and 1hour tells something else. How do you read the chart on different time frame accompanied with the indicators you only knew using like the RSI?
I have plans for long term but would also be great to earn every day in trading. The indicators signals the different course of action when I'm in the daily chart but shifting to 4hour and 1hour tells something else. How do you read the chart on different time frame accompanied with the indicators you only knew using like the RSI?
When you are thinking about shorter time frames the only moving averages that matter are the shorter period ones namely the 10 and 20 MAs as this is what you will see a breakout will happen. Don't even use 200, 100, or even 50 MAs as mostly this is what is used to detect a long term position, and won't be accurate in minute/s charts. Aside from the shorter period MAs you must match it with volume and RSI analysis as theybare very handy to back up the MAs in your chart.
I have plans for long term but would also be great to earn every day in trading. The indicators signals the different course of action when I'm in the daily chart but shifting to 4hour and 1hour tells something else. How do you read the chart on different time frame accompanied with the indicators you only knew using like the RSI?
I have plans for long term but would also be great to earn every day in trading. The indicators signals the different course of action when I'm in the daily chart but shifting to 4hour and 1hour tells something else. How do you read the chart on different time frame accompanied with the indicators you only knew using like the RSI?
Which time of the day GMT if you please suggest there there are considerable volume?
as I said before, in normal circumstances the time depends on your exchange's location and its majority members since you said binance, I think they were originated from china and suspected to run servers in hongkong
so you can log in and check on their daytime hours trading activities to confirm the trade volume
however binance users are now from all over the countries, so expect to see it quite busy all the time
I'm saving my money so currently have just $800 to spend for this. Will this be enough for day trading?
it all depends on your target profit in nominal amount or just percentage gain if done right, I think you can make $10 a day with your initial $800 trading fund
I don't expect to earn a ton with such a small capital $10 will do as long as its worth learning and the fees are just the exchange native coin. At least to day I got back my $800. A stressful journey for me but I'm learning this day trading. 1HR chart is great as long as I see where the market is going - I'm concentrating in the 1HR chart, can you share your experience on this?
I'm worried this TradingView app is causing my phone to heat up.
For extreme scalping then ill 5-15 mins chart but for active trade swings 1hr time frame would be the best one but overall it would depend on your trading system.
We all have a different strategy about trading and each of us has their own comfort day for trading whether scalping or day trading as long as we can minimize the risk of losing too much since these kinds of strategy are too risky. I remember the day when it's my first time doing such trade while looking at the time frame it's just too tiring since you were watching the live market moving up and down. Jump to: