daytrading eminis-best off 1,5,10,15 minute chart?

for daytrading eminis (ES,NQ,YM etc.)-is it best to trade off of a 1,5,10,15 minute chart?what are your thoughts and experience etc...thanks!!!

The time frames you listed all work, and so do a lot of others.

You need to ask the question why use a 1 minute or 5 or 15 minute chart ? I think you will find the answer is found in how much risk your willing to expose yourself to in your trading. New traders with small risk captial tend to gravitate down the food chain to the faster time frame charts, 1, 3, 5 minute time frames. Professional traders with substantial risk captial tend to use longer time frame charts...5, 15, 30 and 60 minutes, as they are willing to risk more in order to gain substantially larger rewards the longer time frame charts offer.

Trading style goes along with this, for example if a trader is scalping for 4 ticks the 60 minute chart is rather meaningless for decision making. Whereas if a trader is position trading for say 10 or 20 ES points, the 15 or 30 minute chart might make a lot of sense.

So its a matter of choosing a time frame that fits your risk profile and your trading style.

I strongly agree with pt_emini. Shorter the time frame more oppertunities to scalp. However scalping is like a trying your luck time and time again. That to me is stretching the limit in a 50:50 market direction.

thanks for the time and insight...if I am looking for 1-3 points per day...would you suggest/prefer a 1,3,5 minute chart?...I usally hold trades for 1-4 minutes...

Hi Increasenow,

I think your daily goal should also be a function of your risk parameter. I think one minute charts are too "Jumpy" but can help to look for volume exhaustions and break out points that like to get tested. I personally wouldn't use a one minuet for entry though. Since I tend to sell rallies and buy breaks into support or resistance I consider my style of trading as "fading". I give the market more breathing room then most traders do and will follow what is happening on the 5 minute and the 30 minute.

My original exposure to the market came back when everyone was "teaching" from 5 minute bars and I still like them. Now I like them for a different reason...I like to see what most traders are watching....it seems that many times 5 minute reversal bars will fail and the market will go higher ( in the case of a down bar reversal), they'll run out the stops at new swing highs and then reverse downwards...I'm digressing...I also watch the 30 minute and have incorporated them into my analysis. This evolved from my market profile studies.
I hope some of that helps..

quote:

---

Originally posted by IncreaseNow

thanks for the time and insight...if I am looking for 1-3 points per day...would you suggest/prefer a 1,3,5 minute chart?...I usally hold trades for 1-4 minutes...

---

should have mention this as it is real important: It's good to know which indexes are leading or lagging on drives up or down.....I work off the assumption that the Dow doesn't lead for too long..over time...just another piece of the puzzle that needs mentioning...helps when fiquring out a support/ reistance zone and entry...on this last drive up the Dow futures surpassed their previous high by 12 points or so while the SP emini only went up one tick higher....this is an alert to me that the upsdide MAY be over...funny thing is that there was a 5 minute reversal bar ( that worked)that was good for a few points....so you may want to filter your entries like this......just some ideas....

Bruce

I have to revise my previous post here as I noticed that some patterns or market movement becomes second nature over time and I don't believe I answered this effectively in my prior post...

I don't mean to make this sound egotistical but there is an intuitive side to watching time frames and bars form.....while I do watch price levels carefully, I'm also checking mostly the 5 minute to see how "well" the market is moving.

I also trade differently in the first hour - 90 minutes then I do the rest of the day.....for some reason I have been trading more over the past 2-3 months. Ok, that may be even more vague..sorry..
Bruce