Please read if you trade off a 1 minute FX chart

Benny Dorm said:
So many Legendary Members here etc I thought I'd seek comments as it's relevant to the thread.

I want to trade off an fx chart, buy, sell, move stops on the chart etc.

MT4 is a no-no for this method.

I am aware that one can trade off Tradestation's "ladder" but am very wary of Gain as I am with most fx brokers. I would like to use an ECN but, as yet, can't find one that does this.

Oanda fits the bill but their reputation is not great and even my demo account froze on NFP which I believe is standard practice for bucket shops. (Not that I would be trading around then but it does concern me).

Dukascopy may provide this facility and was going to demo before finding this thread.

Any helpful thoughts would be greatly appreciated.

Happy New Year!
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I have been using Oanda for a very long time...... I have had no difficulty with them regarding trades although their charts are less than good. Trades can be as small as you want.

The only complaint that I have with oanda is that their data is very expensive unless you are trading in great size.


There are few brokers without some problems, it is the nature of online trading, systems are imperfect, traders are imperfect, connections are imperfect, with patience we can make a decent buck.
 
Metatrader one minute charts support one of my robots.. they are not completely all bad.
 
Yes, indeed. I have an account with an MT4 broker but I can't do what I would like to on MT4 hence the search for another.
 
I just bot amibroker as it has superior backtesting and reports....

I am not sure where that will take me....

I am thinking of developing and testing on amibroker and then using metatrader for the robots...

Nothing written in stone yet as I have not done anything so far.....

Certainly I feel that metaquotes and other forex software developers could add some better features considering the amounts of money involved...

It is almost like they offer a taste to get the accounts open and then the trader is guaranteed to lose his deposit because the testing is crap...

A serious developer of systems needs much better than what is available.
 
MT5 offers a lot more than MT4. speed is a great improvement... again the test results are not good enough
 
scose-no-doubt said:
Is anyone gonna tell me where I can trade 10p per point or what FFS?
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Smart Live Markets were offering 10p/pip on a permanent basis when they first started out last year. I haven't looked recently to see if that is what they still say. I demo'd them last year, but had not got as far as opening a live account when I went on what turned out to be an extended break last year. I hope to give them a try live in due course.

They offer MT4 by the way.
 
Clearly if you can apply the same money management skills, the discipline in a profitable system to the one hour, daily or one minute chart you are going to make money over time. A good system works in every time frame over a relative time period. You can test a system on the 4 hour over a month and have a crap system. Test a system over a month on the i minute chart that works, apply it to the 4 hour chart and make money. Show me one that does not work in a one minute and I will show you one that will not work over a longer time period in a 4 hour chart. It comes down to your personality and how you want to trade. I can trade a bad system on the 4 hour chart and make money over a 3 day period brag about it on the internet and then lose my **** over a month period. I can trade a bad system that appears to work on the one minute chart and make money in an hour and lose my **** over a days trading. Or I can make money in a good system and lose money with it in an hour and clean up before the day is over on the one minute chart. It is all about you and a whole lot less about the time frame.
 
All charts are just a graphical illistration of the historical price. 1 min gives you more detail, but it is the same data.
To answer the first poster: I use 1 min TF to trade. I use ALL TF's, But I use 1 min TF and tick data for entry.

BTW, this is just me, but I visualize the data a bit differently. I view it more as a 1 big bar graph. Where price can just go up and down. It is more of a pure interpretation for me as price is not fixed to any time scale. But I am probably just dyslexic...
 
is this one of those post a comment and pass it on threads ? :p
 
The one min chart looks the same as the four hour chart. Fractal a wave within a wave within wave.I trade mostly one min chart a little bit 5 min.If the one min chart did not work the notion of the whole markets would not work.The guy who owns developed forex factory forum actually trades tick charts.

Im a full time trader and its the most profitable timeframe to trade.You can easily make 100-150 pips per day with little risk 10-15 pip stop on eursusd for example.of course you must be a good trader.Give what the market wants.im young and come from the gaming background so I understand its a little bit hardcore for most traders.

AO indicator is worth seven digits if you know how to use it.Im from the bill williams clan of traders.
 
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Where does the price action start on a monthly t/f? It starts on the 1M t/f and progresses up to the monthly, 1 t/f at a time. It is not always easy to tell if a new trend has started on the 1M, but eventually it progresses up. I agree with the fractal wave within a wave within a wave thesis. But I am a die hard Elliott Wave fan, and that is what the basis of EW starts with.
 
forexkunta said:
Where does the price action start on a monthly t/f? It starts on the 1M t/f and progresses up to the monthly, 1 t/f at a time. It is not always easy to tell if a new trend has started on the 1M, but eventually it progresses up. I agree with the fractal wave within a wave within a wave thesis. But I am a die hard Elliott Wave fan, and that is what the basis of EW starts with.
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AO indicator is elliot wave.

you can read EW in 10 seconds with AO.

As I said its worth 7 digits if you know how to use it.And im a guy who hates indicators LOL.

I trade with zero spreads on four markets and 3 pips for gold and brent.

Trading one day on one min chart is like a months of setups on the four hour chart. Therefore it is quite incredible what is achievable on one min.
 
Which charts do you use as not all have the AO facility.
R us still trading this indicator on a 1 min chart with success and do you combine with a higher timeframe!
 
It would be nice if MT4 platforms offered more timeframe choices. I use Renko's most of the time and I do not like time based charts.
 
Shaun12uk said:
Which charts do you use as not all have the AO facility.
R us still trading this indicator on a 1 min chart with success and do you combine with a higher timeframe!
Click to expand...

MT4

Yes still doing very well.

Real trick is using the 45 average.Only take trades below/above the 45 on the 15,5 then 1 use entry on the one min.

Magic-wait for sleeping alligator AO at zero price in line on the 45 on the 5 min and 15 min...Then bang!!!! look for factual or step.

then trade this with zero spread your going to be a rich man:LOL:
 
arabianights said:
Everyone in the ENTIRE WORLD is laughing at you. Stop at once, and do considerably more research.

Thank you.
Click to expand...

You are totally right. People trading off 1 min charts are too slow. I prefer the 1 Sec charts. I can be in and out faster than anyone. I almost never recover money from the spread though.
 
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