Types of time charts 1 Minute 5 Minute

Types of time charts • 1 Minute • 5 Minute • 10 Minute • 30 Minute • 60 Minute • 240 Minute • 1 Day • 1 Week • 1 Month

Tick Charts • Tick charts display a certain number of trades before printing a new bar chart. Unlike other charts which are based on time, tick charts are solely based on trading activity. • The tick chart gives the day trader the ability to see all of this detail within the price chart and removes the headaches that come from staring at the ticker all day. • Most popular Tick chart is 233 ticks.

Tick Charts • 13 • 21 • 34 • 55 • 89 • 144 • 233

Green Chart Right click on a chart you want to change the time frame Click Chart Settings

Green Chart On the right side you will find the Intraday Bar Period Session Times This is where you can change the time frame and if you want time or ticks

Green Chart Click on Bar Period to change from day times to ticks as you can see on right

Why Use Multiple Times? What does a 5 minute chart help you trade? The entire day? OR The next 10 -30 minutes? What does a day chart help you trade? The next day? OR The next 2 -6 days?

Why Use Multiple Times? Ask yourself this question? If I am making even a very quick trade for very little, would it not help my success to have a trade that looked favorable on a short chart (1 m, 5 m, 30 m) but also a longer term chart (30 m, 60 m, 240 m)? If I was wrong about the short term outlook wouldn’t it to be good to be right on the longer term outlook?

What Size Should I Start With? Start with the largest times or ticks first and then work your way to the smaller ones. This helps you see the big picture first. You will see trends, support and resistance that are very strong that you may miss just looking at small charts.

Mistakes Made Using a time chart that is too small for the move. Tick charts are typically a chart used to position into the trade ( you have already decided which way you are going) Often in certain markets even a 1 m or 5 m chart is too small to execute a trade on that alone Using a time chart that is too big for the move. Using a larger chart is always safer BUT you increase the risk of not catching the initial direction

Mistakes Made Not individually looking at a chart opened all the way up Looking at a chart very small can manipulate the way the indicators read or just make it hard to see really what they are doing Looking at a chart but not what time it is If it is 8: 01 a 5 m, 30 m, or even a 60 m chart old shows 1 minutes worth of data on the current candle. This makes the signal not as strong

Items we will review Setting Up Multiple Time Charts Changing Settings on Multiple Time Charts Analyze Strength of Indicators in a single candle Review trading the post Analyze Indicators on multiple charts. To get perception of future movements Review Common Mistakes