Topic: Which timeframe do you use for day trading? - page 2. (Read 538 times)
If you are a trader, you can buy or sell, you can open or close position which can either be long or short. Crypto market is opened all through the day, you can trade at anytime of the day, you will just need to find a perfect time for yourself to use for trading. You should not be addicted to trading, you can use low leverage or use no leverage and set your take profit appropriately and not be greedy.
You have to realize that, the best time to trade is your own time and nothing more. Since crypto is a 7/24 thing, you could find any timeframe in the day where you could make a profit. I have to say when it is "daytime" for Europe, it is still getting a bit of an action, but do people in the USA trade it a lot? sure they do, or Asia? Sure, they do.
This is a proof that we are in a situation where things are not really that much of a trouble for anyone and you could trade during any time frame. But, you need to pick one where you are awake and also not tired or sleepy, so it can't be very early morning when you wake up, or very late at night where you need to sleep.
This is a proof that we are in a situation where things are not really that much of a trouble for anyone and you could trade during any time frame. But, you need to pick one where you are awake and also not tired or sleepy, so it can't be very early morning when you wake up, or very late at night where you need to sleep.
I usually try to use for a short period of time. This seems to me to be the safer option.
I must say that the timeframe you're using is a short one though. I usually use 45mins to an hour, sometimes 15 to 30mins so it depends on the coins sometimes but if your timeframe is working for you then go on with it even though that's more of scalping .
My disposition is towards swings/position trading but on a few occasions that I do day trading I rely on 1hr TF as compass and 15mins for its entry. It helps me sieve market noise which the lesser TFs won't be able to trap. Technically, I think those who rely on 5mins and 1min are more of scalpers than day traders.
I also have this view about trading. Lesser time frame is usually situation that scalpers use in their trading and that is mostly times not up to an 1 hour. Although every trading strategy is good depending on the success rate and sticking to it is better than to be confused. If a scalper try to use the time frame for swing which is long time, they are likely to fail in such trade and likewise the reverse.
Most of the time it depends on market conditions. It should be understood that the market often requires different working conditions, different approaches and strategies. You need to be ready for this.
I use 30minute and 3 hour for day trading.
I develop a trading robot on tradingview, and it has highest profit on this timeframe.
I develop a trading robot on tradingview, and it has highest profit on this timeframe.
Cool many of them are able to day trade in as small window as 1 min!! That’s too tiny but I assume that’s for the highly volatile coins only. Because I see no point in trading let’s bitcoin on one minute scale. It won’t be moving that much and entry and exit would be way way smaller window. How much margin that could get us, may be nothing. I have done this on casino actually. I think it’s, duelbit where they have this section of trading live. They have very small windows like this but always loose money. Not sure it’s for me.
The shorter the duration the more harder it is which we know that scalping,daytrade is something that cant really handled out by anybody specially if you are just new into trading.Even myself do really have a hard time on doing this one even i do have that sufficient experience.I do never intent to touch up this one since it could really be putting you
up on big trouble but if you could bare up with the volatility in a short duration then go ahead but if not then better stick with swing or trend trades because
that would surely give some confidence.
Cool many of them are able to day trade in as small window as 1 min!! That’s too tiny but I assume that’s for the highly volatile coins only. Because I see no point in trading let’s bitcoin on one minute scale. It won’t be moving that much and entry and exit would be way way smaller window. How much margin that could get us, may be nothing. I have done this on casino actually. I think it’s, duelbit where they have this section of trading live. They have very small windows like this but always loose money. Not sure it’s for me.
I’ve been working on a trading bot for the better part of six months. It uses a five min timeframe to make decisions. Do most intra-day traders use such a short time frame as well? Has anyone had any luck with a custom timeframe like 7 mins?
I have rarely seen any person using time frame of 7 mins or any unusual time frame, the concept of using a time frame which is used by a lot of people is that you are seeing what a lot of people are seeing which means if there is a breakout and a lot of people see that breakout and buy you can be part of that crowd as well, it just about getting other confirmation using signals to ensure that it is actually a breakout, on a 7 min chart you would see a breakout which nobody else is seeing or buying so I am not very sure whether it will be profitable or not.
I've also used trading bots to make trades. According to my experience, the average trading bot applies a time frame of 5 minutes to 1 hour for intra day. Actually the time frame is flexible, the most important thing is what program the bot has to execute/entry with maximum accuracy.
I’ve been working on a trading bot for the better part of six months. It uses a five min timeframe to make decisions. Do most intra-day traders use such a short time frame as well? Has anyone had any luck with a custom timeframe like 7 mins?
I also working for short trading. But i am trading manually and my timeframe is max 12 hours for spot trading and 30 min for future trading . I make my decision within that timeframe. Whatever the loss and gain according to the situation, I then sell it up And prepare for the next trading Before I start taking any new trades, I first do an analysis of the shorts and then take there is a time frame of 15-20 minutes for day trading. I think New trade is very positive during this period. It is better to take new trade by own research.
Depends on the strategy, but lower timeframes were a lot of false signals in my strategy, so first I'm going to check the higher timeframe for the trend, whether it's bearish or bullish, and then I'll check the lower timeframe to see where my possible entry points are. To be more successful in trading, I would say ride the trend or follow the trend because there is a high probability that you will win in your trade.
I mostly use 1 hour to 4 hour time frame seems more accurate than in micro timeframes but I use that when I do swing trades but if I'm doing a day trading I usually looked into smaller timeframe 5 mins to 1 hour maximum but some people do actually good at 1 minute timeframe or lower but I don't understand that because you can see the behavior of the market in bigger time frames.
Before I start taking any new trades, I first do an analysis of the shorts and then take there is a time frame of 15-20 minutes for day trading. I think New trade is very positive during this period. It is better to take new trade by own research.
Depends on the strategy, but lower timeframes were a lot of false signals in my strategy, so first I'm going to check the higher timeframe for the trend, whether it's bearish or bullish, and then I'll check the lower timeframe to see where my possible entry points are. To be more successful in trading, I would say ride the trend or follow the trend because there is a high probability that you will win in your trade.
I want to take your word for it and I've bookmarked that site. I will peruse it, surely. It will really interest me and an advantage too if that bot can also be used on Forex and Binary platforms.
Yeah of course. That's a great way to examine an investment. If you have any questions about it, you can PM me for that. It is an advantage if you really know what you are going to do. As for Forex, it's in the works but not yet for release. Binary Platforms, I'm not so sure yet on what is planned. I usually trade along with 4hrs time frame which is consistently getting me stronger reversal signals.
I guess you must be having more patience. How often you open a trade and what would be your profit/loss hit ratio. I am just curious to know you stats because I am not seeing most people do recommend 4hrs time frame here.When you do minutes, like 1 minute or 5 minutes that's usually buy now and sell a few minutes later, but when you do it in hours it is buy now and sell days later. It is basically the same concept, the only difference is that we do not act as quick as you guys do, however the mindset of buying and selling doesn't change, just the time changes.
I think you should check it out though if you are really serious about trading and want to take advantage of the 24/7 market.
I want to take your word for it and I've bookmarked that site. I will peruse it, surely. It will really interest me and an advantage too if that bot can also be used on Forex and Binary platforms. I use Gunbot for my trading necessities, utilizing it as an exit tool and complete automation.
That mention brought back memory of when I newly started on this forum. BTT was the first place I heard about Gunbot. Sadly, I don't use or rely on bots for trading and couldn't come around trying it out.
Mostly probably people are using at 15 minutes, but you have to be very careful in day trading about the coins and their all history because the chart in day trading of the coins effect really much, after buying or selling some coin, just look at their charts I mean graph and after that you will have some knowledge about the coins.
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