Sorry couldn't help myself
Here's what I see... easy peasy.
- Joined Feb 2009 | Status: Commercial Member <- Don't trust me | 2,976 Posts
- | Joined May 2008 | Status: Trader | 762 Posts
Is the purpose to determine whether the M5 or the D1 is easier to trade?
What I have noticed over the years is that even the traders that become profitable over the shorter time frames do not make it over the long haul.
The burn-out rate for anything for M1-M15 is pretty high. Most are just trying to get profitable with those TFs without thinking ahead and realizing that this is what they will be doing everyday for the next 10-15 years in order to compound their money to anything resembling a decent size equity (assuming their edge lasts!).
Day traders are like drug dealers, they don't get old.
What I have noticed over the years is that even the traders that become profitable over the shorter time frames do not make it over the long haul.
The burn-out rate for anything for M1-M15 is pretty high. Most are just trying to get profitable with those TFs without thinking ahead and realizing that this is what they will be doing everyday for the next 10-15 years in order to compound their money to anything resembling a decent size equity (assuming their edge lasts!).
Day traders are like drug dealers, they don't get old.
- Joined Mar 2007 | Status: Trader | 1,142 Posts
I consider my time as a cost as any business would. If I have to sit in front of a screen all day to get a measly 200 pips on a 5 min chart then that trade has cost me much more than if I had put on a set and forget trade on a higher time frame and spent the day playing golf.
KK007: I'll be sending my invoice to you for the above text.
KK007: I'll be sending my invoice to you for the above text.
I've never traded D1 and probably never will. I have traded 1hr, 30m, 15m, 5m, and 1m. I prefer time frames 30m or less. I'm quite success with 30m, 15m, 5m and 1m.
Others bitch the transaction costs are more on the lower time frames. BS. A trade is a trade is a trade. Each trade has a cost associated with it. So you make 20 pips on your D1 and I make 20 pips on my 5m. Same transaction costs. Next...you make 100 pips on your D1. I make 200 pips on my 5m and probably twice the transaction costs. The difference is that I played the bounces off of...
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,336 Posts
BS. 
Supposedly 90 something percent of 'traders' lose and probably 90 something percent of them lose because they look at the short, intra-day timeframes exclusively.
It might be because they don't have time (day-job or just plain other activities to occupy them, nothing wrong with that) or because they believe they are controling risk (doubtful) by not have a trade open for more than a couple of minutes or hours.
Maximize winners, minimize losers.
Defintion of noise: much of what is written on Forex Forum.
Supposedly 90 something percent of 'traders' lose and probably 90 something percent of them lose because they look at the short, intra-day timeframes exclusively.
It might be because they don't have time (day-job or just plain other activities to occupy them, nothing wrong with that) or because they believe they are controling risk (doubtful) by not have a trade open for more than a couple of minutes or hours.
Maximize winners, minimize losers.
Defintion of noise: much of what is written on Forex Forum.
- Joined Jan 2008 | Status: I'll Take Your Pips | 1,338 Posts
Porkpie, I never mentioned anything about sitting in front of the computer all day. All I need is a couple of hours a day. Different strokes for different folks.
I consider my time as a cost as any business would. If I have to sit in front of a screen all day to get a measly 200 pips on a 5 min chart then that trade has cost me much more than if I had put on a set and forget trade on a higher time frame and spent the day playing golf.
KK007: I'll be sending my invoice to you for the above text.
- | Joined May 2008 | Status: Trader | 762 Posts
Defintion of noise: much of what is written on Forex Forum.
BS.
Supposedly 90 something percent of 'traders' lose and probably 90 something percent of them lose because they look at the short, intra-day timeframes exclusively.
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,336 Posts
Including your 4,704 quality posts on FF?
Got 'post count' envy? I could care less how many I or anyone else has.