Dear Zerodha Family ,
When it comes to ACCURACY & PREFERENCE which are the most ACCURATE & PREFERRED time frame used by INTRADAY TRADERS .? and what is your personal favorite settings Please IF YOU ARE AN INTRADAY TRADER ?
ACCURACY = ACCURACY in compared to one another i.e which helps take better buying and selling decision's 1 min chart , 2 mins chart or 5 mins chart ?
WHAT I FEEL IS THAT 1 MIN CHARTS ARE TOO FAST AND 5 MIN CHARTS ARE TOO SLOW I WILL GO IN FOR 2 MIN CHARTS WHAT DO YOU SAY PLEASE ?
YOUR INPUTS WILL BE HIGHLY APPRECIATED .
Dude, I will tell you what I do. I generally trade Nifty Index Futures with 5 minutes time frame. If you reduce the time frame i.e. 3 mins, 2 mins. etc… there is a lot of noise in this type of trading. Furthermore, you need to be super quick in executing orders from your terminal, which seldom happens.
So, the best bet would be 5 mins time frame. For Nifty Index Options, you can consider 3 minutes time frame. See, this all again depends on the number of points you want as profit. If it is less points (less than 5) then you can do with 3 mins or even 2 mins chart.
But, if you are looking for higher number of profitable points (25 points and above), I think 5 mins chart should be ideal. Even for that matter, 15 minutes is good.
Everyone has their own style and what makes sense to you might not make sense to someone else. But the idea is to use 1 timeframe as a tactical screen (where you will enter and exit) in conjuction with a couple of higher timeframes for strategic decisions… that are your main timeframes for deciding which trade to take.
1,3,5 minute charts, are usually noisy and may appear random. Also it makes you impulsive and anxious… I would recommend…
15 min Timeframe:For Entries & Exits.
1 hr/ Timeframe: To make Strategic Decisions/ Identify Patterns, Probabilities
*Daily Timeframe can also be used for deciding on the play, especially if you are planning to swing and keep a position.
I use 5 min and 15 min charts simultaneously. But I also use several EAs and consensus report to get proper trading signals. I also make sure that the intraday trade would be a good positional trade as well by looking at the daily charts. There is no point in going for intraday trade, if the scrip is in the overbought/oversold zone in the daily charts.
hie , timeframe is based on your mode of play in particular instrument . if you what to scalp you can go for below 5 min timeframes . if your goal is to get swings better chose hourly or 30 min timeframes . but its upto ur style and risk reward ratios . some trader uses time based and some non time based charts like volume , tick , renko , kagi etc . but my final words are u should analyze ur trading instrument from larger timeframe to lower so that u can get the way how they are moving . i hope this helps u
as people have already pointed out its an individuals choice and comfort levels
personally i find the 30 min signals most rewarding and easy to trade -means you have time to decide and observe before entering trade
however the downside is that you need a lot of patience
on lower timeframes noise increases however more trades appear ,it feels good to do many trades but its not for everyone
have a sound strategy and stick to it …
i am also confusing most time frame confeused,but today i anayais,bank nifty more then swing 70 points,i traded bank nifty loosing me,but nifty still make profit 15-25 points,regualarly u maka profit note iit how much ur daily small profit,but waiting huge profit high volume traders possible,but small quantiy traders exit profit,close a market,many trades not help ful make profit,
I’ll tell you how I trade
I trade Crude Oil futures in the evening time I scalp durring which i use 30 mins for deciding trend and then I enter on pullbacks on 1min time frame using support, resisitance and EMA.
This question seems very hot when it comes to preferences and settings for trading.Dear friend , you will get lot of suggestions in this market since everyones view is different and strategy as well.Really if you are trading then just review your trades with different timeframes and then build your own strategy.
So i use multiple timeframes viz 5min and 30min , since market looks different on different timeframe. 5min charts for entering into trade and 30min chart for deciding trend.
Thank you very much DUDE you have been very kind and helpful. i will surely try your wonderful strategy and see if works for me once again thanks a ton !!
which indicators do you use and there settings
JazakALLAH Khair , Salman until now i was dealing with 1 min candles for intraday trading i will surely try others !!! PEACE !!!
Thank you Abhijit i will certainly keep in mind you suggestions while trading
Thank you Sir i liked you way of " from larger timeframe to lower " logic i will keep that in mind
Thank you for the suggestion sir that’s very kind of you
Wow thank you for your wonderful suggestion i will surely try it
For my particular strategies, I use strongly trending stocks and two timeframes: 1 hour and 15minutes. It really depends on the strategy you have in mind
How do you find trending stocks?
What do you think about 15 min time frame for entry instead 5?