Continuation trading is super easy on the MN. To trade it on W1, one needs at least 4 times the balance required for the MN. $1,000 for the MN is the minimum, as the draw-down and the return are both coming at 25-30%. W1 requires, at least $4,000. D1 goes with $20,000 or more. H4 goes to $120,000 or more. I am pretty sure it is more... H1 goes steady over $500,000, M30 is over $1,000,000 and finally, your favourite M15 - $2,000,000 at least. I am pretty convinced 2m is way too low for M15 continuation trading... Reversal trading? Go to Pivot Trading tread. You can master reversals in there. It is just a piece of cake!
You should understand that everything depends on the chosen strategy and time frame. We can open opposite positions with you from one point and make profit in both cases. Take Profit and Stop Loss are also important here, as well as free margin, etc. I think it would be more appropriate to consider this situation from the position of a specific strategy - then it would be possible to discuss a specific action plan to implement this. But for this, it is also important to learn how to make accurate calculations so that you don't make a mistake and put your capital at increased risk. This is exactly what distinguishes a professional from an amateur and what makes it possible to achieve high results and remain successful in the market for a long time.
In my opinion, this is one of the most convenient and promising timeframes to work with short-term positions in forex, because it allows you to analyze more accurately while not creating unnecessary fuss - and this is really important at a time when you are in a more active environment. So I think it's popular for a reason - everything has its reasons. But in general there can't be any rigid recommendations - everyone has to choose what he likes and what provides the most complete understanding of the market, because we are all different and we all analyze the market differently and focus on some details, which really allows us to make the best decisions.
Well, the most correct approach here is to buy at the end of the candle, when you can open an order at the best price.
Although some traders don't follow such strict rules and do it whenever they see an opportunity - the same goes for applying hedging.
Regarding this timeframe, I haven't heard any outright negative feedbacks, it does give a sense of freedom to some extent and keeps you from gambling a lot.
You really have to check everything by analysis and testing, because it's true that individual parameters can affect the results.
But it's something you can definitely try - it can work for a lot of people.