David Waring

This is a question that I receive a lot so I thought I would take a moment to summarize my response:

Like most things with trading there is no one right answer for everyone as this depends on one's trading style, which should factor in a number of factors including personality and how much time one has for trading.

For more on determining your trading style see the below videos:

An Introduction to Day Trading

An Introduction to Swing Trading

An Introduction to Position Trading

Secondly, while a day trader while most likely focus on shorter term (ie. 1 min, 5 min, 15 min charts) and a swing trader will most likely focus on longer term charts (ie hourly, daily, weekly), most successful traders that I am familiar with will use both short and long term timeframes to get a full picture of the market before focusing on their preferred timeframe. This is done through multi timeframe analysis, and there is a video on this below:

Day Trading Lesson 6: Multi Time Frame Analysis

Hope that helps. If there are any other questions or comments on this one please feel free to post them below.

Best Regards,
Dave

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Disclaimer: Trading is risky and can result in substantial financial loss. As always my posts are simply one traders opinion and should not be taken as trading advice. I am not a financial adviser so everyone please do their own analysis and take responsibility for their own trades.

Simit Patel

Here are some links from around the web I found that might be useful for this matter:

How to Trade Using Multiple Time Frames

Choosing the Right Chart Time Frame For You

Spot Forex Trading Part 4: Multiple Timeframe Analysis For The … | Money Up To Date - Your Financial Blog

Triple Screen Trading System - Part 1

CCI Trading | Time interval confluence | FUTURES | FOREX

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