Seniors,
It is often said that You must choose the trading timeframe according to your personality. But the question lies as - " How to know which timeframe suits me ?"
I am not able to judge myself. How could I figure it out ? Need your valuable guidance please.
:sos:
regards.
candle
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answer is given for pro level.
1] If u can spend 3hr daily time on planning/study on Eod -u can be intra day player.
2]If u can spend 1hr daily time on planning/study on Eod -u can be shortterm /swing player.
3]]If u can spend 3hr weekly time on planning/study on Eod -u can be intermediate/positional player.
OPPURTUNITY SEARCH : MEANS the timeframe u can predict. a 5min player means - predictably for up/down move for a stock. 1hr player suggests -predictability for direction bias in next hr.
A good day player can say - next days mover(2% )
a swing player - may have skill about 2days continuity from a particular price pt.
A position player suggests STRENGTH of continuation above 10-20 days /about 20 % price move.
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ALL HAVE SOME STRIKE RATE/but master to get out when proven wrong by own system.
Comfort /risk tolerance/ attitude to money / knowledge on market -other contributory factor.
But quick impulse/easy going personality fits in no style.
Counter trend/flow with trend - using momentum -economic sense - helps to be a higher timeframe player.
U may give Van Tharp test to know more.