trading 2-minute charts.

[GANESH_KANSARA]

I also work with live chart and i set time 3 minute you try it. it's a best time frame.
with all the best from
ganesh kansara
from surat city

i am very comfortable trading 5-minute charts. recently decided to start trading lower time frames, like 1 or 2 minute charts. but 1-minute charts looks very noisy to me. so decided to concentrate on 2-minute charts. but i am not sure that the 2-minute time frame is valid one or not. so looking for some guidance from experts/seniors.

thanks in advance.

 

[GANESH_KANSARA]

I also work with live chart and i set time 3 minute you try it. it's a best time frame.
with all the best from
ganesh kansara
from surat city

 

[Smart_trade]

I also work with live chart and i set time 3 minute you try it. it's a best time frame.
with all the best from
ganesh kansara
from surat city

I also find 3 min bar charts as a great timeframe for intraday trades.


Smart_trade

 

[vvvv]

I also find 3 min bar charts as a great timeframe for intraday trades.


Smart_trade

im trying to cum up with the 3 min trading using 15 min as the higher time frame & 1 min as the lower just to see the action at the root using pivots..
how r u trading off the 3 min charts..need sum guidance

 

[Smart_trade]

im trying to cum up with the 3 min trading using 15 min as the higher time frame & 1 min as the lower just to see the action at the root using pivots..
how r u trading off the 3 min charts..need sum guidance

I follow 3 min bar charts with a 10 bar moving average line superimposed on it.If the price is below the average and I get a break of PL,I go short with a stoploss of average line on closing basis that means if any 3 min bar closes above the average line,I cover my short position. Mirror image for long position meaning price above average line,PH taken out then go long with stop of average line on 3 min bar closing basis..

I follow it for intraday trading catching short moves.


Smart_trade

 

[vvvv]

I follow 3 min bar charts with a 10 bar moving average line superimposed on it.If the price is below the average and I get a break of PL,I go short with a stoploss of average line on closing basis that means if any 3 min bar closes above the average line,I cover my short position. Mirror image for long position meaning price above average line,PH taken out then go long with stop of average line on 3 min bar closing basis..

I follow it for intraday trading catching short moves.


Smart_trade

how r ur trades going in terms of % of profitable trades..is it leading to overtrading???

 

[Smart_trade]

how r ur trades going in terms of % of profitable trades..is it leading to overtrading???

I get 3-4 trades in a day.I dont act on each and every pivot break but to illustrate the market has been below the average line,then I get a PL break,I will go short.If the mkt goes my way,my SL gets trailed along with MA.At some point mkt starts going up and 3 min bar closes above the average,short posn is covered.If I get a PH break above average,then ho long,if the rally fails and prices go below the average and I get a PL break,short and trail SL.

Get choppy signals in very flat market but if mkt trends a little,can catch short moves and on strong trends, can catch even 70-80 points in nifty fut.

So the first pivot break above or below the average calls for trade entry,not each and every pivot break.

I would be interested in the strategy being developed by you.

Smart_trade

 

[vvvv]

15 min uptrend...go long in the 3 min above the previous pivot high.
reverse for shorts.
finding a proper 15 min uptrend in a day is becuming difficult.
15down , 3 min up - cant go long....u have to wait all through out the day for 15 min to go in uptrend.

it has happened many times tht 15 & 3 was both down...now 3 min has gone in uptrend.
15 min is also following.so from a down trend , 15 min makes a higher pivot low(it still hasnt broken the previous pivot high)..this is the starting point of uptrend but still uptrend is not confirmed.
at these points u think wht to do...soon u realise tht before 15 min breaks the previous pivot high, market timings are over.
for identifying 15 min pivots im not considering any pivots from the earlier day.
also im considering only 1 lower high on each side of the pivot otherwise i will find no pivots for the entire day...

u hve any ideas.....the reason im using higher timeframes is to prevent myself from chops & overtrading.

 

[Smart_trade]

15 min uptrend...go long in the 3 min above the previous pivot high.
reverse for shorts.
finding a proper 15 min uptrend in a day is becuming difficult.
15down , 3 min up - cant go long....u have to wait all through out the day for 15 min to go in uptrend.

it has happened many times tht 15 & 3 was both down...now 3 min has gone in uptrend.
15 min is also following.so from a down trend , 15 min makes a higher pivot low(it still hasnt broken the previous pivot high)..this is the starting point of uptrend but still uptrend is not confirmed.
at these points u think wht to do...soon u realise tht before 15 min breaks the previous pivot high, market timings are over.
for identifying 15 min pivots im not considering any pivots from the earlier day.
also im considering only 1 lower high on each side of the pivot otherwise i will find no pivots for the entire day...

u hve any ideas.....the reason im using higher timeframes is to prevent myself from chops & overtrading.

Hi vvvv,

You are wasting the initial move by waiting till you get trend confirmation on 15 min HL,HH formation during the day ,this will waste atleast 1-2 hours of initial move. I would suggest the following :

1) Have 15 min trend in continuation from yesterday so we know that we are in up/down trend at the beginning of the day.

2) Till 15 min trend confirmation is obtained we can have first 5 min bar as a trend indicator.So if prices are above high of first 5 min bar then go long on 3 min PH with SL ay 3 min PL and mirror image for short trades.

3) Try 10-12 bars MA as the trend identifier

Regarding 3 and 15 min in downtrend and 3 min going into uptrend,without confirmation from 15 min yet,this is a delay factor in multiple timeframes.You cannot catch the initial portion of any trend which is changing on lower timeframe but still no confirmation on higher time frame ( eventually 15 min trend may change but till then no position from the side of fresh emerging trend !!!!) ,we got to accept it my friend ...and go for the middle portion of the larger trend...

These are the suggestions,I have not tested these.

Keep in touch on these developments.

Smart_trade

 

[aabhi06]

Hi,
I tried intraday SMA 3-13-39 for nf . Above 13 SMA take long with prev. bar low as a SL . For short vice verca, and
add above 39 SMA.