Which time chart is best for finding stocks to trade?

Asked 3 years ago

I usually use the daily chart and the weekly chart to find the stocks I want to trade. I look at the daily first, and if I like it, I will try and confirm with the weekly. I have a friend who looks at the weekly chart first for a trading strategy, but I feel like he misses a lot of entries. Which chart would you look at first, and how do you find your trades?

Weekly stock charts Daily stock charts Trading strategies Finding trades

Avik Das

Thursday, September 09, 2021

In all honesty, it would totally depend on your investment strategy. If you are investing with a long-term plan then it doesn't make sense to check the daily chart first and hence, weekly chart would be more suitable. People who are more technical look for daily charts. Therefore, I would suggest looking at the weekly chart first. 

Andrew Moran

Friday, September 10, 2021

It depends on what type of investor you are and what your trading strategy is in this market.
If you are an active daily trader, a tick chart is a good tool to incorporate into your daily or weekly investing endeavors. This produces a new bar every time a set amount of transactions are completed.
Moreover, when it comes to time charts, a 10- or 15-minute chart time frame is right for someone who wants to see the major trends and movements throughout the trading session.
For long-term investors, there are two types of technical charts to use to find stocks to trade:
Performance versus the S&P 500
Long-term revenue growth
These will give you an idea of how strong a company's balance sheet is and how the stock has performed compared to the broader market.