Please read if you trade off a 1 minute FX chart

[DionysusToast]

Real Men use 1 tick charts

 

[w4rn1ng]

Hello,

I mainly trade off the 1min charts, the timeframe doesn't really matter at all.

The structure that market present on 1min timeframe is the same that we can observ in monthly chart, or any other timeframe.

The same patterns, trends, and various rules work exactly in the same way, the market fractal structure is exactly the same (trend inside trends inside trends) even in the tick charts.

Trading off 1min chart is very useful, even if you notice a good buy opportunity on 1d timeframe, price will prepare for the move completing a phase of accumulation in the inferior fractals, and here is where we look at littler tf for making a perfect entry (os as perfect as possible): 4h 1h 30m 15m 5m and 1m.

Now, even if we can use the little tf to calculate perfect entries, we can use them to enter multiple times, of course in the direction that market is doing (the major trend).

Most of my trades are scalp (from 5pips to 30pips) and my trading costs are huge compared to a swing trader (spread have a higher impact), but i enter in the market only with clear reasons, and the spread cost don't give a big impact.

Why trade 1min instead of bigger tf?

Even if i trade the 1min, i always have a clear understanding of the overall market situation, from the monthly trend to the 1min trend, so i don't trade "only" the 1min chart, i just use it because there is always a good trading opportunity, and trades are fast, usually a trade is opened and closed in 5-10 minutes, the fastest ones are losses of course, the longest ones are wave-riding for a profit.

But i agree the fast trading is not suitable to everybody, you have to have a good understanding of the market structure, otherwise is just a suicide.

 

[DionysusToast]

Hello,

I mainly trade off the 1min charts, the timeframe doesn't really matter at all.

The structure that market present on 1min timeframe is the same that we can observ in monthly chart, or any other timeframe.

The same patterns, trends, and various rules work exactly in the same way, the market fractal structure is exactly the same (trend inside trends inside trends) even in the tick charts.

Trading off 1min chart is very useful, even if you notice a good buy opportunity on 1d timeframe, price will prepare for the move completing a phase of accumulation in the inferior fractals, and here is where we look at littler tf for making a perfect entry (os as perfect as possible): 4h 1h 30m 15m 5m and 1m.

Now, even if we can use the little tf to calculate perfect entries, we can use them to enter multiple times, of course in the direction that market is doing (the major trend).

Most of my trades are scalp (from 5pips to 30pips) and my trading costs are huge compared to a swing trader (spread have a higher impact), but i enter in the market only with clear reasons, and the spread cost don't give a big impact.

Why trade 1min instead of bigger tf?

Even if i trade the 1min, i always have a clear understanding of the overall market situation, from the monthly trend to the 1min trend, so i don't trade "only" the 1min chart, i just use it because there is always a good trading opportunity, and trades are fast, usually a trade is opened and closed in 5-10 minutes, the fastest ones are losses of course, the longest ones are wave-riding for a profit.

But i agree the fast trading is not suitable to everybody, you have to have a good understanding of the market structure, otherwise is just a suicide.

Fractal nature of the market... jeez

 

[sriramsh123]

Well I trade off the 1 min charts, No scalping, I get clear entries and clear exits, I end up making 100 pips a day, made about 250 pips today... but dont ask me for the trading setup, however if anyone wants proof I can show my trades. But overall 1 min is the best.

I know people talk about noise in the 1min, the noise is what makes it interesting for hot people like me who want to see action on the chart as to what is next, It not for the faint hearted, good money management rules apply as well when you are trading with 1 min especially dont over leverage the positions... Stick with the predefined trading rules if you have one and apply them diligently and you can trade of any time frame...

 

[xtf]

Grasping the nettle so to speak,I have designed this possibly infallible 1 minute strategy. Please avoid ranging markets etcetera.

 

[trader_dante]

Well I trade off the 1 min charts, No scalping, I get clear entries and clear exits, I end up making 100 pips a day, made about 250 pips today... but dont ask me for the trading setup, however if anyone wants proof I can show my trades. But overall 1 min is the best.

I know people talk about noise in the 1min, the noise is what makes it interesting for hot people like me who want to see action on the chart as to what is next, It not for the faint hearted, good money management rules apply as well when you are trading with 1 min especially dont over leverage the positions... Stick with the predefined trading rules if you have one and apply them diligently and you can trade of any time frame...

If you make 100 pips a day I will eat a plate of sh*t

 

[trader_dante]

Just to clarify: 10 pips on a 10 lot is not 100 pips. It's 10 pips.

Also, buying 1.6010 in Cable and taking 1/2 out at 1.6050 and half out at 1.6070 is not 100 pips either. That's 50 pips.

 

[mb325]

I don't think you should be allowed to change the terms TD

 

[trader_dante]

I don't think you should be allowed to change the terms TD

lol yes well there are so many ways to record results...

The first is how the new grads recorded when I was in prop.

The second is something I've seen loads of trading rooms doing.

I think both are an inaccurate representation.

 

[sriramsh123]

If you make 100 pips a day I will eat a plate of sh*t

Well check out my yesterday trades, there is one trade which I made 140 pips, note that its a micro account. Apart from that there are other trades, which I made, 60, 30 120 etc pips. etc...

 

[trader_dante]

Well check out my yesterday trades, there is one trade which I made 140 pips, note that its a micro account. Apart from that there are other trades, which I made, 60, 30 120 etc pips. etc...

I gave you a rep for posting a statement for the day

I wasn't doubting you can make 100 pips in a day.

I was doubting you make 100 pips a day.

That kind of consistency over any kind of prolonged period is extremely rare.

But good luck to you if you can do it.

 

[forexkunta]

Entry on the 1M E/J at 23:58 110.67

 

[sriramsh123]

I gave you a rep for posting a statement for the day

I wasn't doubting you can make 100 pips in a day.

I was doubting you make 100 pips a day.

That kind of consistency over any kind of prolonged period is extremely rare.

But good luck to you if you can do it.

Well, I have my bad days too, but its once in a while, when whipsaws usually happen in a minute especially during news; my profits out beat the losses... but otherwise its fun to trade off 1 min charts... The point here is I am not here to prove to anyone, but all I am saying is that it is possible to trade off 1 min charts.

 

[wackypete2]

Well, I have my bad days too, but its once in a while, when whipsaws usually happen in a minute especially during news; my profits out beat the losses... but otherwise its fun to trade off 1 min charts... The point here is I am not here to prove to anyone, but all I am saying is that it is possible to trade off 1 min charts.

I agree with many of the principles in your first post. I've traded 1m charts and still do from time to time. My personal opinion is that it's not as difficult as people believe, but the extra stress and screen time make it near impossible to most. Admittedly, I could not trade 1m day in and day out all month long but there is a fun factor to it and like any job, some fun keeps you from insanity.

Peter

 

[DionysusToast]

Back to this one, eh?

Doesn't the whole topic of 'timeframe' suggest you are analysing the markets in a particular way?

In particular, doesn't it point to you analyzing on a bar by bar basis or doing candlestick analysis?

The difference between a 4 hour chart and a 1 day chart is virtually zero. Both show you where price has been and the level of detail is much the same.

Of course, if you analyze and put a lot of importance on any individual bar or look at candlestick patterns I can see where it would make a difference - but then you are in danger of missing the big picture?

I am relying on charts less and less, the more I trade. I like a chart to show me the whole day, where it's been, where it stalled etc. I can't see the point in isolating a specific 5,10,15,30,60 etc. period and trying to give it meaning.

This is yesterdays chart...

Like I say - the timeframe is not really relevant, what's relevant is I can see the days action and how it's moving. It's compressed intentionally so that I cannot see the individual bars.

 

[wackypete2]

It's compressed intentionally so that I cannot see the individual bars.

That's because as you say you don't use them. Those of us that use them would like to see them while we are trading.

Peter

 

[trader_dante]

Back to this one, eh?

Doesn't the whole topic of 'timeframe' suggest you are analysing the markets in a particular way?

In particular, doesn't it point to you analyzing on a bar by bar basis or doing candlestick analysis?

As you suggest, there is no such thing as timeframe. Time is fluid.

But newbies will always love the lower timeframes because they puke the last swing point fake quicker.

 

[arabianights]

Well, I have my bad days too, but its once in a while, when whipsaws usually happen in a minute especially during news; my profits out beat the losses... but otherwise its fun to trade off 1 min charts... The point here is I am not here to prove to anyone, but all I am saying is that it is possible to trade off 1 min charts.

Is there any reason that such a wonderful and knowledgeable trader is tradin 10 pence a point?

 

[Black Swan]

I gave you a rep for posting a statement for the day

I wasn't doubting you can make 100 pips in a day.

I was doubting you make 100 pips a day.

That kind of consistency over any kind of prolonged period is extremely rare.

But good luck to you if you can do it.

When can we gather round to watch you eat a plate of 5hit?

 

[scose-no-doubt]

where can I trade 10p? I want some of that action.