For Daytrading which time frame suits best?

[milewilda]

For extreme scalping then ill 5-15 mins chart but for active trade swings 1hr time frame would be the best one but overall it would depend on your trading system.

[gabbie2010]

More so studying Japanese candlestick patterns on a higher time frames  ie weekly chart will be very helpful in determining the direction of the price while using 4 hour chart to trade while moving down to lower time frame for a perfect entry. Bullish or Bearish engulfing bar and pin Bars are almost perfect patterns and useful tools that works for an effective trading those candlesticks indicates Price Action of the market and used by experienced traders. eg pin bar formed on BTC/USD daily chart on 02/07/19 and bullish engulfing bar on the same chart yestarday was a perfect set-up for buying.

[Thirdspace]

Which time of the day GMT if you please suggest there there are considerable volume?

as I said before, in normal circumstances the time depends on your exchange's location and its majority members
since you said binance, I think they were originated from china and suspected to run servers in hongkong
so you can log in and check on their daytime hours trading activities to confirm the trade volume
however binance users are now from all over the countries, so expect to see it quite busy all the time

I'm saving my money so currently have just $800 to spend for this. Will this be enough for day trading?

it all depends on your target profit in nominal amount or just percentage gain
if done right, I think you can make $10 a day with your initial $800 trading fund

[Distinctin]

More so studying Japanese candlestick patterns on a higher time frames  ie weekly chart will be very helpful in determining the direction of the price while using 4 hour chart to trade while moving down to lower time frame for a perfect entry. Bullish or Bearish engulfing bar and pin Bars are almost perfect patterns and useful tools that works for an effective trading those candlesticks indicates Price Action of the market and used by experienced traders. eg pin bar formed on BTC/USD daily chart on 02/07/19 and bullish engulfing bar on the same chart yestarday was a perfect set-up for buying.

I'm not really following those charts or whatever it is in trading, I only just follow the market flows. Right timing is very important in trading and sometimes we've thought of luck to be along with us. The risk is always there and the bad thing is that the risk goes higher when the price goes up also. That is why we should have to look closely with our trades and check the market flow every now and then.

[Cherylstar86]

   For my preferred time frame I would rather choose morning at 1am, because most of the traders is actively doing buy and sell at this time base on what I've observed on my local time. This time frame gave me more opportunities to deal my skills in trading as well. More great coins who seems to give me profit as long as close deals will be accepted. It's good to work early morning compared during night time.

[dark08]

Most of the time I prefered a 15mins to 30 mins timeframe which is  the best timeframe for a daytrader like me but take note every traders have their own strategy and timeframe when doing trading its better to looj to your own strategy and dont base on other strategy experience is your own knowledge to gather information on trading.

[b3llsf1l3s]

For indicators like RSI and moving averages use the daily chart. Lower timeframes will lack of substance.

For candlestick patterns, use timeframes from 5 min to 30 min as most daytraders are looking out for these as well. TA is a self-fulfilling prophecy so you should want to act "like everyone else does".

Never use the 1 min chart as not a single indicator will work here.

What coin are you usually looking for, or maybe there are tips for choosing coins and their characteristics? Because I don't think all coins have a significant movement in such a timeframe.

Or maybe just pick the coin which has biggest volume ?

[CucakRowo]

You like Bruce Lee sir ?

Yes i did sir

[pokeronlinestatus]

I have plans for long term but would also be great to earn every day in trading. The indicators signals the different course of action when I'm in the daily chart but shifting to 4hour and 1hour tells something else. How do you read the chart on different time frame accompanied with the indicators you only knew using like the RSI?

That day trading is not an easy job for just anyone to do. If you don’t know how to do day trading it is best to continue with the long term so you can take out your time to work and invest at the right time and earn when the market grows to a higher level. Maybe you can then use that opportunity to study everything you need to know about this day trading, how the charts works and every other thing that has to be learnt in it. Trading cryptocurrency is not like kind of trading, yes there are quite a few similarities but there are differences as well.

[kidoseagle0312]

For indicators like RSI and moving averages use the daily chart. Lower timeframes will lack of substance.

For candlestick patterns, use timeframes from 5 min to 30 min as most daytraders are looking out for these as well. TA is a self-fulfilling prophecy so you should want to act "like everyone else does".

Never use the 1 min chart as not a single indicator will work here.

I've been here for a years in crypto, but I never been try to use any of the time frames, I usually applied read candlestick at most often every time I do trade in the platform. Then, I always go with the flow also if there are active buyers, I also buy coins as long as it is promising and potentials of course. In short, day trade and long terms are both good.

[michellee]

I have plans for long term but would also be great to earn every day in trading. The indicators signals the different course of action when I'm in the daily chart but shifting to 4hour and 1hour tells something else. How do you read the chart on different time frame accompanied with the indicators you only knew using like the RSI?

I use 1 hour, and 1 day to check the market movement and sometimes I can get something information from that time frame. But I don't know with other people and maybe they have a different time frame for trading. Besides that, we have different indicators that we used in the trading so maybe we use a different way to analyze the coin.

[jonhn772]

For day trading I Usually like to use 1 hour chart most. But I also use 2 hour chart too for my day trade.

[Oceat]

For extreme scalping then ill 5-15 mins chart but for active trade swings 1hr time frame would be the best one but overall it would depend on your trading system.

We all have a different strategy about trading and each of us has their own comfort day for trading whether scalping or day trading as long as we can minimize the risk of losing too much since these kinds of strategy are too risky. I remember the day when it's my first time doing such trade while looking at the time frame it's just too tiring since you were watching the live market moving up and down.

[cabron]

Which time of the day GMT if you please suggest there there are considerable volume?

as I said before, in normal circumstances the time depends on your exchange's location and its majority members
since you said binance, I think they were originated from china and suspected to run servers in hongkong
so you can log in and check on their daytime hours trading activities to confirm the trade volume
however binance users are now from all over the countries, so expect to see it quite busy all the time

I'm saving my money so currently have just $800 to spend for this. Will this be enough for day trading?

it all depends on your target profit in nominal amount or just percentage gain
if done right, I think you can make $10 a day with your initial $800 trading fund

I don't expect to earn a ton with such a small capital $10 will do as long as its worth learning and the fees are just the exchange native coin. At least to day I got back my $800. A stressful journey for me but I'm learning this day trading. 1HR chart is great as long as I see where the market is going - I'm concentrating in the 1HR chart, can you share your experience on this?

I'm worried this TradingView app is causing my phone to heat up.

[sarmrakib]

I have plans for long term but would also be great to earn every day in trading. The indicators signals the different course of action when I'm in the daily chart but shifting to 4hour and 1hour tells something else. How do you read the chart on different time frame accompanied with the indicators you only knew using like the RSI?

You have to invest a big amount to become a successful trader on day trading .I always use 5min time frame candlestick chart when i do day trade .But you always don't be greedy either you will lose your whole money .It will have your time if you use 1hr or 4hr chart .Try something different.

[jrrsparkles]

I have plans for long term but would also be great to earn every day in trading. The indicators signals the different course of action when I'm in the daily chart but shifting to 4hour and 1hour tells something else. How do you read the chart on different time frame accompanied with the indicators you only knew using like the RSI?

How often you are doing the chances of profit is also high so you can even go with 30 minutes as well if you are good at analysing the charts.But there is no perfect time or procedure to make 100% profits so we need to create one for ourselves.

[Theb]

When you are thinking about shorter time frames the only moving averages that matter are the shorter period ones namely the 10 and 20 MAs as this is what you will see a breakout will happen. Don't even use 200, 100, or even 50 MAs as mostly this is what is used to detect a long term position, and won't be accurate in minute/s charts. Aside from the shorter period MAs you must match it with volume and RSI analysis as theybare very handy to back up the MAs in your chart.

[dunfida]

I have plans for long term but would also be great to earn every day in trading. The indicators signals the different course of action when I'm in the daily chart but shifting to 4hour and 1hour tells something else. How do you read the chart on different time frame accompanied with the indicators you only knew using like the RSI?

How often you are doing the chances of profit is also high so you can even go with 30 minutes as well if you are good at analysing the charts.But there is no perfect time or procedure to make 100% profits so we need to create one for ourselves.

Definitely right! Theres no specific time yet it works differently on each trader.Some might be profitable with 5 minutes-15minutes-1hr it does depend on how you do make trades.If you found which do works for you then better stick to it.

[akram143]

I have plans for long term but would also be great to earn every day in trading. The indicators signals the different course of action when I'm in the daily chart but shifting to 4hour and 1hour tells something else. How do you read the chart on different time frame accompanied with the indicators you only knew using like the RSI?

I feel the best time is night time because there are very less people doing the work in night time so we can easily understand the situation what is going on and I feel comfortable in night time more than the date time but it will be very for each and every person.

[jostorres]

I have plans for long term but would also be great to earn every day in trading. The indicators signals the different course of action when I'm in the daily chart but shifting to 4hour and 1hour tells something else. How do you read the chart on different time frame accompanied with the indicators you only knew using like the RSI?

I feel the best time is night time because there are very less people doing the work in night time so we can easily understand the situation what is going on and I feel comfortable in night time more than the date time but it will be very for each and every person.

I am not so sure that night will be best for trading, because by the time it is getting to night, the body would have been becoming tired and the brain trying to short down, how do you intend to study chart when your brain is no longer assimilating, and aside that, when people becomes less active, how will you get the little volatility needs to place your trade, because then, there will be no much activities which will even make your chart too becomes less functional.

I think the best time of the market is during the days when there are lots of activities going on in the market. It is just like you trying to buy something in a clothing market, it is usually in the morning and noon that people get the best of designs that the shop owner just brought, by the time is getting to evening, you will end up buying some old stocks left.