All language subtitles for 4. Picking A Time Frame For Your Technical Analysis

For a lot of people, what's a kind of hang up is like what time frame shows you?

How far back should I look when I'm trying to evaluate my charts and what kind of trade or am I?

How frequently do I trade in the time frame and pack that?

And then it does you know, the length of time that you consider for your technical analysis can change

the way you look at things for sure.

You can look at things based on minutes, you know, real quick changes or hours or days or weeks,

even months or years.

And while the concept of universal language will be the same, how the chart looks and how you interpret

it might be different if you're looking at, let's say, hours in a day versus, you know, many days

in a month.

And there's kind of things where you hear about, you know, certain types of traders like these traders,

you know, that have terminology around that are swing trader and active trader, different things for

right now.

I don't want you to worry about any of that.

You don't have to worry about your time frame.

You might already have a feel like, oh, I want to be a day trader.

I want to be I just want to trade every once in a while.

All of that's OK.

You don't have to pick your time frame right now, affect your time frame, will kind of pick you as

you go through things.

You start paper trading and practicing and back testing.

You might find that you actually like or gravitate towards another one as you get through the course.

Again, the tools and indicators will apply no matter what the time frame.

So, for example, a great trader, a day trader, would constantly buy and sell during the day.

Right.

They're constantly buying and they're doing that.

And at the end of the day, the whole idea is trains are going to close out all these positions or basically

things that you bought and then you could sell them at the end of the day.

So you don't carry anything for no stock or security or anything that you're going to carry forward

in the next day or so for a day trader, their time frame, because it's all going to happen a day.

They're looking at minutes and hours, right?

They're not going to be concerned about, you know, months because it's not happening in a month.

It's happening over the shorter timeframe.

Again, no right or wrong answer.

Just that if you want to do that, you're going to adjust your time frame.

And at the end of the course, we'll talk about this in more detail as we now apply those concepts as

far as trading.

So a day trader might think, oh, it's my job.

I look at minutes and hours.

An active trader might say, oh, I love it.

And they might look at days and weeks and months.

They don't trade as much.

And certainly a buy and hold investor might look at, you know, win them, maybe get into a security.

But they they don't really trade much getting in and out to get in more.

But think it out sometimes.

So we look at more weeks or months, maybe even years as time goes by.

So picking a time frame once again, you do not need to decide.

Now, that's very important.

Don't worry about that concept.

Work the same no matter the length of time and however long the time.

One thing to take away is the more established the trend is, you know, a trend that's been going on

or certain direction, you know, for months is going to be a very strong trend versus something that's

going for minutes or hours that might change quickly.

And thus you're getting in and out of positions quicker.

If you're a day trader, then let's say if you're more just, you know, every once in a while trader,

both are perfectly fine.