Posted by mastermind on 5th of Apr 2024 at 05:41 pm
Man, my short term chart is 10 minutes. I don't have the time or
the desire to try to react in the second range. But I rarely if
ever buy and sell the same day. I am still a working man.
Posted by DigiNomad on 5th of Apr 2024 at 07:11 pm
Yeah, you obviously have to be mostly a full time trader to use
second or tick charts. SMB capital, who I follow a lot,
always says "if you're having issues getting into a groove on
longer time frames, switch to shorter time frames. The most edge
exists when scalping." Makes sense to me. When scalping,
you're typically only aiming to capture a move from 1 level to the
next and there aren't a bunch of fractals beneath your timeframe.
With swing and position trading, you have to be right on so many
more fractals and make it through multiple levels to "win."
That said, from what I gather from Market Wizards, TraderLion
interviews, etc, the vast majority of the best of the best traders
are swing traders. There are some exceptions. I just think scalping
is the "easy button" to either develop confidence or get your
confidence back. Not that it's easy...but it can be
easier.
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Man, my short term chart
NVDA - Long term look... wouldn't mind a little more ...
Posted by mastermind on 5th of Apr 2024 at 05:41 pm
Man, my short term chart is 10 minutes. I don't have the time or the desire to try to react in the second range. But I rarely if ever buy and sell the same day. I am still a working man.
Yeah, you obviously have to
Posted by DigiNomad on 5th of Apr 2024 at 07:11 pm
Yeah, you obviously have to be mostly a full time trader to use second or tick charts. SMB capital, who I follow a lot, always says "if you're having issues getting into a groove on longer time frames, switch to shorter time frames. The most edge exists when scalping." Makes sense to me. When scalping, you're typically only aiming to capture a move from 1 level to the next and there aren't a bunch of fractals beneath your timeframe. With swing and position trading, you have to be right on so many more fractals and make it through multiple levels to "win."
That said, from what I gather from Market Wizards, TraderLion interviews, etc, the vast majority of the best of the best traders are swing traders. There are some exceptions. I just think scalping is the "easy button" to either develop confidence or get your confidence back. Not that it's easy...but it can be easier.