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Who is using one minute charts to trade?

  • #61
  • Jan 26, 2011 10:19am Jan 26, 2011 10:19am
Quoting Turveyd
What you can do,...
Turveyd, you have to be kidding me. Nothing over the 15M is tradeable? Is that a joke? Of course trading the H1 is tradeable. That's where the money comes in. Do you think the Swiss bank is coming in on some 1M level?

That said, I first posted on this thread that the M1 is white noise, and though I still believe that to some degree, I am retracting the statement. I want to thank Turveyd and some of the others for discussing this point. I have been trading a demo alongside my normal h1 and m15 approach. The demo is on the M1. I am up with both.
  • #62
  • Jan 26, 2011 4:59pm Jan 26, 2011 4:59pm
Quoting ericstevens
Turveyd, you have to be kidding me. Nothing over the 15M is tradeable? Is that a joke? Of course trading the H1 is tradeable. That's where the money comes in. Do you think the Swiss bank is coming in on some 1M level?

That said, I first posted on this thread that the M1 is white noise, and though I still believe that to some degree, I am retracting the statement. I want to thank Turveyd and some of the others for discussing this point. I have been trading a demo alongside my normal h1 and m15 approach. The demo is on the M1. I am up with both....

Sorry I do not understand, H1 and where the money comes in, would you like to explain this, or is it just something your repeating ?

The smaller a period of time you look at the less random and noisey it is, like trying to predict where market will go up for 1hour, isn't easier to predict for the next 3 mins ?? Check a S10 chart out, you see the detail which makes the M1 and to me it's much less random than the M1 chart.

M1 you can possibly make a living off full time, H1 or above your an investor aiming to out perform the banks interest rate, some years your make 5% others lose 5%, M1 you can make a living off.

What do you want from trading full time and the dream ie rich, or 5% per year ?? thats the question!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #63
  • Jan 26, 2011 10:34pm Jan 26, 2011 10:34pm
Quoting alex_000
I tried trading 1m today. Man, it's hard. Need to be very fast :] Thou scalping is pretty profitable :]
I agree, when scalping trades the 1m works very nice.
  • #64
  • Jan 29, 2011 2:23am Jan 29, 2011 2:23am
I am still new to forex, I use really small frames to trade and I am doing good so far
I can't see how people trade large frames :S
I mean price may change in one minute from high to low or vice versa. You can not just make sure it will go the same for like 4 hours :S
  • #65
  • Jan 30, 2011 3:27am Jan 30, 2011 3:27am
First thanks to you who have thus far contributied to this thread and topic: ericstevens, Turveyd, >Apocalypto< and others, I appreciate all of your knowledgable comments. I believe you - the one minute chart traders - are a rare breed indeed.

This being said, I have read this thread and found it very interesting and I'd love to learn more about how to trade the 1m charts.

That being said, I have tried several times in the past to do so and each time I've come up short. When trading the 1m vs the 1hr and 4hr I will explain what I have found. If anyone can help me what I'm missing here that might help me profit on the 1m chart I'd be most appreciative to you.

My normal way of trading uses the approach of checking S/R beginning from the longer time frames down. I'm pretty sure most of you do that too the difference being I begin at the 4hr or Daily then move to the 1hr and enter on a 5m or 15m chart with the trend and you use smaller tf's. I use the 4hr as my compass because I know it's going to take usually 3 to 8 bars (sometimes more) to complete the trade. Because of this I can leave the computer and even go to sleep for the night (if I see a good opportunity to trade before going to bed that is) and wake up in the morning usually with some pips.

For me, when trading the 1m charts I find that although it is similar to longer timeframes when watching it, it seems easy to get caught up in sudden moves against you (even though those moves may only be a few pips but the quick movement - looking like a skyrocket - causes me to exit prematurely most of the time. After exiting I'll say to myself something like, "damn! why did I exit on that small retrace" when if I was looking at a higher timeframe I would not have even considered exiting.

If anyone will help me understand how I might be able to trade the m1 or describe how you handle these quick moves so I might not have those issues please do so either here or pm if you would like.
Thank you so much.
Joe
  • #66
  • Jan 30, 2011 1:38pm Jan 30, 2011 1:38pm
This appears too small to read at least on my 26 incher.

Quoting sriramsh
Well each one of you might have different opinions about me, however see my overall transactions for the month of december when the eurusd was choppy at its best.... I want to see if there is anyone else who made profits during this choppiest season... Check out my entire trading log for the month of december, includes my losses as well...
  • #67
  • Jan 30, 2011 1:55pm Jan 30, 2011 1:55pm
Quoting GoodOlJoe
First thanks to you who have thus far contributied to this thread and topic: ericstevens, Turveyd, >Apocalypto< and others, I appreciate all of your knowledgable comments. I believe you - the one minute chart traders - are a rare breed indeed.

This being said, I have read this thread and found it very interesting and I'd love to learn more about how to trade the 1m charts.

That being said, I have tried several times in the past to do so and each time I've come up short. When trading the 1m vs the 1hr and 4hr I will explain what I have found....

Like your longer TF's where, it's a learning curve a tricky 1, yes having to think fast and react or not is the tricky part, I use EMA's to judge direction and try not to look at the price to much.

The advantage is IF you crack it and you can take say 50pips per day most days and you can trade at a lot size that makes you much more money and grows the account much faster.

There is ofcourse a IF involved!!

Also, we can trade for a hour or 2 get our pips and switch off I can't really switch off when I've got live trades on the go.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #68
  • Jan 30, 2011 1:58pm Jan 30, 2011 1:58pm
Trying to crack it in this thread :-

http://www.forexfactory.com/showthre...87854&page=283


feel free to join in and help out, I use S10 charts to better time entrys and exits and more accurate faster EMA's than you can do on M1 charts.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #69
  • Jan 31, 2011 12:04am Jan 31, 2011 12:04am
Hey thanks for the answer.. Yea I'd really love to be able to trade those timeframes for the reasons you mentioned. I'll be stopping by. Joe

Quoting Turveyd
Trying to crack it in this thread :-

http://www.forexfactory.com/showthre...87854&page=283


feel free to join in and help out, I use S10 charts to better time entrys and exits and more accurate faster EMA's than you can do on M1 charts.
  • #70
  • Jan 31, 2011 10:29pm Jan 31, 2011 10:29pm
Quoting ableman
Dear fellows, want to meet with traders who have sitted inside a curreny dealing room using one minute chart for scalping or who have practical experience using one minute chart to scalp. We can exchange for experience, tactics & discussion !
my 5 year old son is good at it, and my girlfriend, they have no clue what trading is all about lol, i think that great, they look at the damm things move up and down and they call it, no indicators no nothing, "oh its moving up" "its moving down" "i dont know" more success than most experience traders, actually looking at the charts and not a mechanical methodicall ill enter here and exit here and stoch is up and rsi is overvaluded, go figure
AVT INVENIAM VIAM AVT FACIAM
  • #71
  • Feb 1, 2011 2:51am Feb 1, 2011 2:51am
Quoting the redlion
my 5 year old son is good at it, and my girlfriend, they have no clue what trading is all about lol, i think that great, they look at the damm things move up and down and they call it, no indicators no nothing, "oh its moving up" "its moving down" "i dont know" more success than most experience traders, actually looking at the charts and not a mechanical methodicall ill enter here and exit here and stoch is up and rsi is overvaluded, go figure

I've always said, if you can keep it that simple and not over think it then you've got it made.


I can do it with demo and make virtually loads, but can't do it with real sadly.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #72
  • Last Post: Feb 1, 2011 6:48pm Feb 1, 2011 6:48pm
Although my preference is 30m charts I have also spent considerable time trading 1m and also 5s.

My view is that all timeframes CAN be profitable and it is down to the individuual's strategy and trading psychology.

Facing chart movements on 1m / 5s can pummel your emotions and psychology unless you have a structured system in place. This is really the whole reason I prefer to trade longer time frames: my state of mind, which is key in trading.

I believe charts and esp candlestick charts are a mathematical reprsentation of the market which in the "real" world is meant to be highly efficient - whatevr the timeframe you can play off SR levels, trends and use EMAs !

Higher timeframes require bigger stop losses to avoid being stopped out over a longer time frame and so less £/pip can be traded to keep in line with money management rules. This is where IF you ARE good at 1m / 10s / 5s / 1s timeframes you have a big advantage: more trades in a day at a vastly higher £/pip, due to much tighter stoplosses. Of course that creates a greater risk of overtrading as well and destroying your account quicker if you are NOT good at low timeframe trading.

So IMHO I think it is very much down to personality and psychology as to whether someone can trade a given timeframe, not down to the charts themselves.

For now I am content with 30m, backed up by 4hr...

All the best with the 1m trading !

Doug
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