Quotations by Jay Norris

Here are the time frames we analyze and trade from: Monthly--weekly--daily--240 minutes--60 minutes--15 minutes--5 minutes. The premise of coordinating time frames is to use the higher time frame to confirm the signal on the time frame we are trading. The downside of using higher time frame charts to confirm lower time frame charts comes when we are in a sideways or countertrending market or when we are seeing trends reversing. [2010] - Jay Norris

Position, or end-of-day, trading is fairly straightforward in that the trader is taking trade signals on the basis of price behavior on the daily charts. Enter orders is just before the end of the trading day at 5 p.m. EST. It is common parlance to refer to 5 p.m. EST as the close because it marks the change from one day to the next on the daily chart. You determine whether the trade is a trend or a countertrend on the basis of the stance of your daily chart and look to the weekly and monthly charts for confirmation. [2010] - Jay Norris