Best time frames to use for day trading

[jacpin2002]

Hi everyone!

I’m trying to be more active with my fellow traders as I am finding success in algorithmic trading which allows me the time do so.

What time frames do you use for day trading?

I am currently using the M15 and H1 charts for my EAs, but this is also because I am a newbie with trading am relying on Petko’s advice in the courses I have taken heavily. As time has gone on, I am finding in demo (and because there are 96 EAs running), I am generating about 4.7 trades per day (according to my analytics).

I feel like I am getting to progress to the next level in my trading and I am thinking about generating strategies on either M1, M5, M15, or M30 charts. Of course I believe that this depends on the kind of asset I am trading. For all my assets, I am currently using M15 and I feel like I am getting a good amount of trades with this chart. Specifically in regards to Forex, I am thinking of moving away from the H1 chart and switching to either M1 or M5.

Which one do you guys think would work best with an M15 chart?

[Petko Aleksandrov]

Glad to see you opened new topic, and share more of your experience.

I am sure more of the traders will start to share trading ideas which would be great.

Just a quick tip from me here, try not to look for more active trading but for more efficient. What you are doing so far is good, and even you have 4,7 traders per day if they bring you good profit, that is just fine. The more you go to the lower time frames, the more spread you will pay.

[jacpin2002]

@Petko-Ah, I see now. I didn’t even realize about the spread for the lower timeframes. I think I will just stick with M15 and H1 time frames to be on the safe side.

[Petko Aleksandrov]

Well, you can always give it a try and see how it goes. At the end of the day you are always going first on Demo, so nothing to lose.

As I have showed in my recent course the Top 10 USDJPY Expert Advisors, I use M5 but if only I place Longer time frames filters as M30 and H1.

So this way I filter the entries and leave only the strong ones.

[jacpin2002]

@Petko-Thanks for this. I think I need to get that course to see how you do it, so I can understand better. And then I will definitely try it in demo first before going live. 🙂

[Petko Aleksandrov]

Hey Jacpin,

you will see with the time when you get used with it, you will learn to skip the Demo testing. Simply, your experience will show you which strategies you can test straight on live.

One of the interesting methods I showed in some of my courses is by removing the recent 1 month. In EA studio you have the option to set the Data horizon. For example if you are running the Reactor today on 1st oF December, you can set the end date to be 1st of Nov. After you select the strategies from the collection just as normal as you do it daily, you can change the date back to 1st of December. What you will do is just to remove the last one month from your Historical data, and than put it back.

This way you will see clear performance of the strategies for the last month, but instead of waiting one month you will do it for couple of minutes.

Of course in the courses I always teach the students to go first on Demo because this is the safer way.

[Author]

Posts