M1 only traders thread, any Pair

You got on early just after the USA open after the direction had been picked on a pull back that sir is a perfect perfect entry!!

Did you call it live is the problem, after the effect is ofcourse easy!!

Check the Asia Time area, EJ and GU both turned to downside today and followed though so far with a huge move.


Ofcourse I didn't trade it

well, i missed the move, fake or live. i had to take care of my business for a few hours. it was a huge move today. i think it was a follow through from the fed decision. all the longs are getting out and taking profits.

now all ihave to do is wait for the signals and make some pips.

now all i have to do is figure out how to judge when to average in as well as seeing new move develop.

look what i see, another entry with the yen. missed it, as usual, i was eating dinner.

You had the same MT4 platform freeze as me annoying isn't, if you right click and refresh some time after it'll fix it which sorts out the sma's otherwise there off and it don't work.

Averaging in is easy, mainly it takes the stress of the initial entry having to be perfect which likely leads to missing the entire shooting match.

Just remember the SL just the other side of the 200ema applies to all positions, pull the SL and you will blow your account.

actually i miised it cuz i was not looking at the pair for awhile, no due to any loss of info from my software. i have a tendancy to walk away from the computer for a few when there isn't the movement i am looking for. still learning the patience thing.

it seems that there is always one pair moving at those times you put down, maybe not exactly at those times, but around them, and if you focus on one pair, you might miss another pair.

Thats the advantage of 2 screen, got 3 charts up and can still type on here and watch films and stuff.

I'm also lazy and seem to always have 500things to do so rarely get the time to watching for more than a few mins.

The times aren't exact, trading isn't a exact science but there better than getting SL's hit trying to take 10pips repeatly the rest of the time.

And back to my 500things all of them annoying

Did you see the 600sma capping EJ also 2hours or so back and it kept holding for 6hours ????

Also GU did you see the 1440sma ( 1 day average value ) capped that aswell for a short Op, with tight SL ??

GU's basically holding a downward trend, based on the 1440sma, EJ's holding a downtrend based on the 600sma.



Time to move you to the advanced class

right now it looks like a little dollar strength. gotta see what durable goods and new home sales come out. i think all of this strength came from the fed minutes and what they had to say, possibly the raising of interest rates in the near future.

i think i will stay in the beginners class until i make my first thousand pips.

Depending on your account size you can do it like this(this is how i started with every strategy i used, 1 min or higher timeframes):

You decide a pip value depending on your account.
You set a fixed SL in pips.(10-15-100 etc.)
You set a number of pips.(i chose 150)

You trade untill you get 150 pips profit, then you slightly increase your pip value. Then repeat. Stop when you are so rich you can`t figure out what to do with the money anymore.

For no reason should you increase the value of the pips untill you reach your target.(150 pips profit) And also no multiple positions on one currency unless they are equal or below your preset pip value.

Also my advice of you plan to trade the 1 min timeframe.

Make sure you pick a broker with ECN(0.5 pips spread and some comission) OR a broker with a small spread(2 pips EU and YEN ,3on GBP and EUR/YEN etc.)AND cashbacks.(0.5 pips cashback = 50$ every 10 lots) There are many brokers who fit this description... pick the one suited for your account size.

Why i don`t think you should use the same account as the one you use to trade higher timeframes?

Becouse the 1 min can be hard to master, you must keep discipline at all times, otherwise you will lose, get mad for making a mistake, keep adding leverage and so on untill you are broke.

Also if you don`t have a lot of money, pick a broker with cent accounts... (1-10cents/pip) There you can practice trading live almost for free. And in case you make a mistake and lose your account, it`s cheap to fund it again.

Also another advice from my personal experience: don`t chase the market. A good entry can still allow you to get to BE or +1 pips even if the price turns on you. If you lose the entry and enter a few pips off the signal and the price turns, it`s usually a loss and it`s tempting to move your SL and make the loss bigger. And that`s how you start to get mad and start making mistakes.

Wish you all the green pips you need!

thanks for the advice. i will take it with a grain of salt. no offense, but i have gotten so much "advice" that i do not pay attention to it anymore.

here is my simple advice to anyone. no matter how much you have in your account, when you go live, trade one lot. i made the mistake of trading 10 my first time out, got whacked. find a system that works for you fake trading and you understand what you are doing when you trade. don't get greedy, take your pips and run. when you learn the nuances of the system, then you can average in and add lots and get the extra pips that are there.

above all, learn from any and all mistakes. sometimes the market just turns stupid; most of the time though the market let's you know when it tis time to get out. never cry over "missed"pips, they will be there tomorrow or in a couple of hours.

just my 2 cents.

looked like a good day to trade, tons of pips available. at least i have lots of info to study this weekend!!!

How does ds work, I Mean Indicators used, Market sessions etc. Pls some1 fill me in


10ks

hello everybody i am new here!

M1 is the base! My way to trade is to look for patterns and i use trendlines ,look for resists and support.
also i work with ema`s 200 and 50 !

hey gabiko, welcome to the thread. first, go to page 45 or 46. turvey has a template there for you to download, it has all the indicators in it. download it into your software.

after you have it downloaded, read the thread to see what you are to look for to trade this system.

have already done it!!
so whats the major clue?
white crossing brown long or short?

Correct, then when you've got say 50% profit in the account start upping your lots slowly as the account grows and reducing as your account shrinks, but keep it small until your trading and risking the houses money.

Gabiko, MtrMth is getting there so any questions I'm sure 1 of us can assist ( I'm away for 2 days though )

There are other systems around, so find 1 that suites you.

Yeah another good day missed ( the days I'm not here rock as a rule LOL ), The times I've got in my red box's all had very nice market moves to trade after I see aswell.

Whats the pips score on the week, I think I'm +40pips but only 2 trades both profitable!!


Good weekends all!!