Generally, if you’re a long-term position trader, you only look at daily and weekly charts. Alright. If you’re a swing trader, you will look at usually daily to maybe hourly chart. Okay. And hourly chart is only if you are a short-term swing trader where you tend to hold your position for maybe a few days up to one one week or so. Okay. Then that’s when you actually go into the hourly chart.

But other than that, a daily chart, in my personal opinion, is more than enough as long as you are not holding a position for less than a week. More than a week, or two or even three or up to months and years, daily and weekly is actually good enough. Alright. Only if you go into short-term swing trading that is under a week, holding horizon, then you might need to go into hourly, and if you are of course intraday trader where you go in and get out, within half an hour, one hour, that kind of thing, then definitely you have to go into a five minute chart or maybe even one minute chart.

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Philip Teo

Founder & CEO at Traderwave Pte Ltd
Philip Teo is an entrepreneur, speaker and trading coach who specialises in the field of Technical Analysis of the financial markets. He is currently the Founder and CEO of Traderwave Pte Ltd, a financial technology company that offers a web charting application to global traders. He has conducted many trading seminars and appeared on national television before. He is also currently an official speaker and trainer with SGX Academy. Learn more about him at his Google+ Profile, LinkedIn Profile and Facebook Profile

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