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What time frame should I use?

This comes down to your own personal experience. There are many different time frames. The smallest of all is the tick. Every single trade is recorded as the price changes. We recommend that you use 5 mins charts. This means that every five 5 mins a new bar is plotted providing you with OHLC (Open, high low, close) for that interval.

Daily charts includes the same information except that it plots an entire trading session. There are more 10, 15, 30 min charts each one given you totally different entry and exit points.

Here is an example of a daily chart

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Here is the same chart using intraday 5 mins for the last ten days.

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It is probably hard to see on the image above but every 5 mins a new bar appears. Intraday charts show all the ups and downs during the day. Where as a daily chart only plots the open, high, low and closing price. You don't get to see what the price movement has been during the day.

As you can see on the chart above even on small time frames you can still trade trends. Can you see the uptrend on the chart below.

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The chart above broke out of a sideways trend and start a nice three day upwards trend. If you refer to the daily image above you can tell that every day the stock was making new highs.

The bottom line is that you can trade all time frames. We recommend to start trading on daily charts first and then when you are comfortable and you have access to intraday charts you can start exploring trading intraday.

Important note: What every time frame you decide to trade, always use a longer time frame and make sure you are trading in the direction of the trend not against it.

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