Time Frame Cheat-Sheet.
Cheat-sheet for Chart timeframes to be used for making trading decisions.
Most traders don't know which time frame to use for their trading time period.
This is the first mistake they make.
This comes from my years of trading and trial and errors and these are the settings I use based on the time frame.
One Month Chart.
Investment for One Year+
Weekly Chart
Minimum 3 Month to 1 Year Positional trades.
Daily Chart
7 Days to 3 Months Short Term Positional.
Hourly Chart
Planning to Exit the Next day or within 7 Days.
30 Minutes
Exiting withing 24 Hours.
5 Minute Chart
Day Trade. Exiting the same day or Session.
Suggestions for People with a Job or Students :-
1. Avoid Day trading if you have a full time Job or Student.
2. Stick to Daily or weekly Chart for part time trading.
3. Yes it is absolutely possible to make money trading just the daily or the weekly.
4. Slowly if you want to move full time, practice on the daily and then slowly on 4 hour if at all.