does a swing trader need intra day charts

[chibiks]

right now I use end of day, holding positions from 1 day to 2 weeks. When I want to enter new positions i cant see the bar for the day yet because its not yet end of day and i feel i could be losing out on information. do i really need intraday charts for position entry purposes at least and any free ones? I use pro realtime for charting....

 

[OrderFlowDashPro]

NinjaTrader is available for free (there is a nominal fee if you want to use it for order execution). It has full featured charting and great third party support. I believe ThinkOrSwim also has a free platform (or used too).

 

[chibiks]

for ninja its only EOD data that is free. need intra day...

 

[malaguti]

right now I use end of day, holding positions from 1 day to 2 weeks. When I want to enter new positions i cant see the bar for the day yet because its not yet end of day and i feel i could be losing out on information. do i really need intraday charts for position entry purposes at least and any free ones? I use pro realtime for charting....

why not look at something delayed? if you are holding for a few weeks, 15-20minutes delayed intraday could be just as good for timing entries where a precise entry isn't necessarily required

 

[gerryg]

why not look at something delayed? if you are holding for a few weeks, 15-20minutes delayed intraday could be just as good for timing entries where a precise entry isn't necessarily required

Maybe chibiks cares about pip?! We don't know actually..

 

[Giovan]

right now I use end of day, holding positions from 1 day to 2 weeks. When I want to enter new positions i cant see the bar for the day yet because its not yet end of day and i feel i could be losing out on information. do i really need intraday charts for position entry purposes at least and any free ones? I use pro realtime for charting....

Maybe 8hr and 4hr charts only. You could use the EOD Ninjatrader or a custom charts on Mt4

 

[VeerTrade]

If you are holding trades from 1 day to 2 weeks you might be able to get away with EOD data especially if your trigger is based off that chart. By looking at intra day charts you might be able to refine your entry and execute trades for a better price. If that is the case than using intra day charts would be a sound investment.

 

[5%Luck]

What I have been doing is using intraday H/L data to form a standard deviation percentile adding it or subtracting it from the average price to find a predictable h/l range for tomorrow.

Adding in some recent trend data over the same period and I can general find tops/bottoms of trends w/ a likely h/l range attached.

That said I tend to download price historys from yahoo and use that as a data field to build trend data/STD-D ranges and simply add in current data as it comes in through the market either from yahoo or my trading platform if Im not at work.

 

[Solas0077]

It depends on your system. If it enters at the open then you do not.