Free Trading Tips And Tricks

Q1: HOW TO READ, NIFTY BANK NIFTY 15min 1min 2min 3min 1Day CHARTS FOR SCALPING options trading.

Q2: Which one is the most reliable for an intrday trader: 1 min, 3 min, 5 min, 10 min, 15 min, 30 min chart?

Answer: it doesn’t matter which time frame you are using if you are able to see what stock is doing. This answer didn’t convince me at all and I decided let me explore myself which time frame suits best for my trading style. I started with 1 minute time frame my entries are perfect but my exits are too early and then I switched to 5 minutes then both my entry and exit are not good and then I switched to 15 minutes and realized my risk is very big and again I became clueless. In mean time I started noticing when things are very clear in 5 minutes chart I was watching 15 min or other time frames and after the trading day closes I realized and cursed my self why was watching 15 mins charts when everything is clear in 5 min chart.

Then this idea came to me what if I’m able to see what stock is doing in all time frames from just watching single time frame i.e from 5 minutes. First it was bit difficult to me then I practiced it, every candle will have shadows upper shadow and lower shadow that is nothing but pull back in lower time frames vice versa a pull back in lower time frame is a shadow in higher time frames. Also there a few candle stick patterns like bearish engulfing is a shooting star in higher time frame, morning start pattern is a pin bar in higher time frame. So I started memorizing the combinations of candle sticks so I can get clear idea of what it is trying to form in higher time frames.

Practicing this first removed my biggest hurdle which time frame to select and I keep 5 mins time frame to trade and after I got another question when really we need to switch time frames for that one example like when ever I see side way candles in 5 min charts they are telling nothing so I switch to lower time frame to see what acutely happening and then I will take my decision.

------

Take the below example of reliance at 15 mins time frame and 30 mins time frame and try to co-relate with the answer I have given …!

Cheers ..!