Hi Pete, yes the Opening Range Report in the members' section should help clear up some of your issues, but if I read your post correctly I get the impression that you are trying to find your entry points off the daily/weekly/monthly chart, but are using the intraday to time your entry, is that correct?

If that is your question I would strongly recommend that you don't mix your time frames. The intraday chart is a good management tool if you have the ability to watch the markets during the day (I currently do not, but I know that Tom does); however if you pick a resistance level to enter the market from the daily chart, then you should enter the market at that point regardless of what is happening on the intraday, with the exception of opening range of course.

The reason is that if you try to micromanage your entries from the intraday you will often find yourself missing out on a move. This varies from market to market of course, as some markets will repeatedly test a resistance area before breaking (ie. corn) whereas others will test it only briefly before making an explosive breakout (ie. cotton), but more often than not, if you are watching an intraday chart for the "perfect" entry, you will not get your signal until it is too late. This is one reason I personally hesitate to watch the intraday charts (unless I'm day trading) as I have tendency to try and "tweak" the trade too much, usually with unfavourable results.

You have to learn to trust what the charts are telling you. Learn to "read" your charts like a book. Use your support/resistance to help you find definitive entries and exits and then take the plunge. You will lose money on occassion, it's part of the business but the key is to keep your profits bigger than your losses. Managing your trade intraday after you are already in it is one thing...but using the intraday to enter a position trade is not something I would recommend.

Erich
http://www.tradershelpingtraders.net
http://www.supportandresistance.com