M1 only traders thread, any Pair

Game plan due to slipping into bad trading habits has changed again.


Current system is all M1 really, although I'll have a S10 open for seeing the detail and some of the EMA's transposed across.


Okay chart setup is :- M1


Envelope 21 Lweighted, 0.01%
EMA 100 ( use a Envelope 100ema 0.01% ) adds a wibble area.
EMA 260
EMA 660

Okay, it's simple, your taking ie Shorts with the direction of the market at 1 of those EMA's, used as Dynamic S/R.

If the market has not got any direction, then wait and don't trade thats rule #1.

Use the direction the 21LW is going, don't open a trade against this, although longer trade might ofcourse be holding against,. Rule #2

If the 660ema is going down then prefer shorts, take shorts under the 660, 260, 100 as per the 21LW rule.

If the 660ema is broken, to considering that a good sign the trend has changed, generally you'll get a good reaction so just on that new direction.


If the market is showing no reaction, to the 100, 260 and 660 then they aren't there forget them, so don't not take a trend because there is 1 near, take it, if it's showing a reaction then exit, if it blows through then sweet.

If the market is showing a reaction to 1 of those lines ( most visible with 100ema ), then join in with those buyers / sellers and run a tight SL the other side ( not to tight ), incase the buyers get swamped by sellers.

You basically do the same, is the 260ema is going down, take a short under it for the market to continue down, same on the 660ema and even the 25ema ( tight SL on the 25 )

Trades considered bust when it takes out the EMA which had resistance, although you can push it out to the next EMA level if required.

Stops are loose 10 - 20SL area, stopping the need for ninja precision entrys.

This is not a scalper system, if the direction is going your way keep holding, let the trend do it's stuff.

100+ pip moves are possible here, do not risk 20 to try to get +3.

When I first began trading Forex I was using M1 with success. When I started using larger time frames my trading suffered a bit so now I'm back to M1. I guess it just fits my personallity better. I wasted a lot of time waiting on trades to "come back". Longer time frames have been useful but I usually just look at them once at the begining of a session to get an idea of how the week is going to look. Trading M1 allows me to get in and out of the market fast with out temptation of moving my stoploss or letting my loss run in hopes of it turning around. I find that, even with the spreads, the more I trade and take a profit the better I do even if that profit is BE+1.

Oh ya, I trade mainly GBP/USD and been doing some EUR/USD also. I've been rotating between pairs after I take profits on one depending on how it looks.

Hello Turveyd,

Which tools do you use trading M1?

Did you found a way to filter all the noise on such small TF or do you take advantage of it?

I hope I expressed myself clear, my english is not so good as I want it to be.

Thank you in advance for your answer.

Cool, I can see the trend change live near enough compared to waiting to a H4 close then guess what the trend actually finished 3hours ago.

GBP/USD and Eur/Jpy to me works better EU and GU trade near enough the same in the afternoon as it's all USD action, where as when GU's slow EJ is normally tradeable and vice versa.

The more you take losses, the more the odds are you'll do something stupid, like moving your SL I find

Lets get M1 rich and annoy the H4ers!!

Long on EJ here, on a SMA based trend line 100SMMA ( thats smoothed ) and bouncing up already.

We'll see, SL is tight

Needs to take out 23SMMA for conviction, failed again, hmmm!!

Out +16 pips or 6% to my little account

Any pair ? Cool. I'd like to offer the Swiss Franc.

1M chart, no indicators, no nuthin', just price.

See that bounce? Happens several times a week on many pairs,
just like this swissy. It's a typical W bottom formation.
Can you think of anything more simple ?

Forceful drive to the bottom, a bounce to a relief point, a retest of the low,
then a break above the relief point. I take these all the time and have a good hit rate
during the London and NY sessions. The targets are usually small, 20-40 pips,
and I grab some of that and often leave the rest on the table.

Sometimes if it comes within 5 or 10 minutes for a 10 to 15 pip profit,
I'll take it right away instead of waiting so I can go do someting else.

These trades develop quickly and I find that if they take longer than an hour or so,
something generally goes wrong, so there's a time limit on these as well.

Just showing the swiss as an example. All the majors do this with regularity, week in/ week out.

I trade off this template ( attached ) and you'll learn to see it as detail and look at the over all picture of it.

LOL yep any pair if it makes money, share

Nice, let me know when you see 1, H4 players don't even see that LOL

Thanx Man I´ll check it out.

Very interesting. I will be sure to follow this thread. I've been trading unsuccessfully for 4 years now but I'm about to get shaken from the job tree so I have to get it on track. I have a $135 account and I'm shooting for 4% per day, minimum. I've bounced all around in forex (all my fault) searching for that holy grail but I now know it does not exist.

Also, I've finally accepted that 1min trading is the only style of trading that fits my personality. Never really thought having a style to fit your personality was so important but now I see.

I have the grail, well close enough and in the same boat as you and you've not fallen for the H4 is the only way to trade so you'll be fine.

Stick around dude, chip in, don't worry about getting stuff wrong it's how we all learn.

And there is no wrong answer!!

Hey Turveyd! Good luck with the new thread! I am crazy (who does not know this by now?) and I try to trade across all time frames but, hey, I'm a begineer so cut me some slack.

M1, though, yes, definitely. And for short gains, yes, but over & over. I have got a good eye for the PA where this is quite easy & I will share some chart pics when the time is right.

Happy Trades!

Prefer M1 for moderate gains think 30pips, would like to let a 200pip run could buy myself a new cheap car then

Only 1 small trade today, +16pips or 6%

Do it every day & you'll be rich in a year no matter where you start from!

No time for that, I NEED 100+ Pips per day ( 1/2 would just about do ), to pay my wage I need shortly sadly!!

Hoping to double my account this week, we shall see though ofcourse!!

I trade usually 1-2 mini lots which is about 4%-8% of my account size. I try to go for 50-100 pips a day. It would be awesome to make 50-100 pips trading an entire lot but I'm trying to keep my risk and exposure to losses to a minimum. Going to try and grow the account to the point where I'm trading an entire lot. I was laid off in early May so the pressure is on to get to the point where I'd be making as much or more as my last job.

dear Turveyd, thanks for starting this site. i think m1 suites me better. lol. will c. i cannot open your template. can u advise. thank you.
F

Hey Turveyd, thanks for being bold enough to start a 1-minute thread. I'll be watching, and if I'm feelin' squirrely I might even add a chart or two.....

francish.... Did you place that .tpl template in your MT4 template folder ??
C:> program files > (Your mt4 broker) > templates
(I don't know if that's the answer you were looking for but it had been a couple hours so....)

thanks Price, will try. cant wait to learn and everybody get green pips from this thread. Best wishes, F