Tick/Range/Minute Charts.... Which is the best?! What do you use

What do you believe is the best set ups for a newbie? I’ve been trading the 6E and ES for a while using tick charts. What do you all use?

Hey Mark,

People will all use different time frames depending on their own attitude to the market place, and also what they are trading. I personally use 5M and 15M charts as im looking for intraday trades that are never held over night or weekends for that matter. It’s all down to personal preference. Different time frames illustrate different views on the market. For example, a daily chart may show a sell signal, but in a 15min chart you may be able to open long positions on shorter term trends within the bigger picture.

It’s all down to what you prefer and more importantly what is more successful for you.

Who uses volume and tick charts for FX trading? My doubt is - if this is an OTC market, then who is able to deliver credible tick/volume charts? The volumes and trades passing through one broker are different to the volumes and trades of another - so the charts will be different!

Your view?

I use candlestick charts with timeframes of daily, 4hr and 1hr as i am more of a swing trader. When i was a newbie i tried to opt for faster timeframe but found out it was too fast for me to handle for my poor heart. So longer timeframe allows me to take time slowly to assess the market. But that is my preference. I have seen newbies who are comfortable trading on smaller timeframes where they prefer to engage the market with much intensity for a period of time daily.

The OP is trading 6E. That isn’t spot forex, it’s futures. Volume would be very credible in that instance.

As for time frames, it’s all system dependent. You could use daily for your entry signals, but shift down to a much shorter TF to get a tighter entry. There’s no “best”, there’s only a “best” for your method of entry.

Personally, the tighter price ranges, the longer TF I look at. It keeps me out of a lot of sillyness that way :slight_smile: