Obviously the main differences are:
Weekly - few thousand pips for 20-30 candles
5min - 50+ pips for 20-30 candles
There is also the time difference.
x20 5 minute candle can be covered in a day but 20 weekly candle will take 5 months.
Apart from the reward and time inversed difference. Everything remains unchanged.
The market doesnt know you are looking at a 5min chart or a weekly chart.
Entries just from 5min chart, hoping to move SL to BE and then pray for a few years growth is about 90% of the readers here.
It is a correct mentality however when you are dealing with 5min charts, REALISTICALLY you will first experience very small win and with great luck (?) that position may or may not grow the next day or the next week.
You just became an average trader with professional traders mindset.
Continuing on..
Weekly - few thousand pips for 20-30 candles
5min - 50+ pips for 20-30 candles
There is also the time difference.
x20 5 minute candle can be covered in a day but 20 weekly candle will take 5 months.
Apart from the reward and time inversed difference. Everything remains unchanged.
The market doesnt know you are looking at a 5min chart or a weekly chart.
Entries just from 5min chart, hoping to move SL to BE and then pray for a few years growth is about 90% of the readers here.
It is a correct mentality however when you are dealing with 5min charts, REALISTICALLY you will first experience very small win and with great luck (?) that position may or may not grow the next day or the next week.
You just became an average trader with professional traders mindset.
Continuing on..