concept of entry and exits

[chinks1980]

I need some help with timeframe analysis which would help me fix my trading skills. Is there any way to understand that concept of entry and exits. Any help would be highly appreciated.

 

[scott69]

I trade /nq during the day. I refer to day chart occasionally throughout the day, but always have 15 min chart for "overview" 5 minute for trade "setup" and then the 2 min chart for the "trigger." So, all my entries and exits are closely monitored / executed on the 2 min time frame. The NQ can move 50-100 points in minutes lately, so I would never trade on a chart longer than 2 minutes, but to determine the timeframe that is right for you, you need to evaluate the volatility of the instrument you are trading and your holding period. Obviously, for retirement accounts, etc. you would not use 2 minute charts, lol. I would use daily, weekly, even monthly charts for those. And as always, it pays to experiment and possibly backtest when possible. Trading is all about learning and growing, figuring out what works and what doesn't. Remember, what works for one trader may not work for you. Actually, it probably won't work, but may be a good place to start experimenting. Scott