Intraday market participants (also known as day traders) use time scales ranging from 5 to 60 minutes. On the chart, the 15-minute and 30-minute time horizons are the most frequently used.
Trading efficiency varies by the hour or, in the particular instance of intraday trading, by the second. As a result, if you are an energetic intraday trader, you must select the most appropriate daily trading time frame that will make it possible to create the most of your trading endeavors rather than simply waiting around.
According to a considerable amount of research, the best time frame for intraday trading is between 9:30 am and 10:30 am. However, this may not always hold true! So, be very careful with your money.
If you are a newbie, it is always best to notice the market for the first 15 minutes before trading.
Experienced traders choose a time frame of fewer than 30 seconds, if at all. Their time frame selection is unrelated to their trading platform or methodology in the market in which they trade. It is determined by their trading character.
Traders who make numerous trades all through the trading day, for example, may prefer a shorter time frame. Those that only make one or two trades per trading day may choose a longer time frame.
When it comes to the best candlestick time frame for intraday trading, the 5-minute candlestick graph and the 15-minute candlestick chart are the most frequently used time frame charts for price movements.
Because intraday trading is based on price changes, studying rapid price fluctuations for shorter periods can yield excellent results.
In addition, you can make use of the hourly charts. Day traders frequently use it because it documents the price volatility of each hour. In the situation of the hourly candlestick, you get information for the prior one hour using candlesticks.
The best time period for intraday trading is the opening trade hours and the chart that is most appropriate for you.
However, because day trading is time-sensitive, doing it in the early morning or at the best time of day can undoubtedly help you maximize your gains.
Do you wish to share any other tips and strategies of intraday trading? What do you think? What is the best time frame for intraday trading? Do drop in your comments below.