Freebie 1 min trading method

So I see him to go up!

I'm sorry, is EURUSD 15

You're right, make mistakes until I learn!

My preferred time frame is 15 minute, 30 minute and 1 hour.

I finally broke the ice: + $ 53.16 in account!

In this transaction I think I went too fast (again emotions).

Thanks for your patience HH!
For any newbies out there, I´ve been trading for 15 years, blew 2 full accounts, studied tons of systems...only to BE since a year or so...

HH mastered this business (I can sense that )
so....be humble, talk little , open your eyes , study and learn...like he puts it..it´s free anyway..

may i know about your money management, because i want to use 5 % per trade using this system(1 m trade using 5 m trend)[/quote]

MM humble sugestion:
Correct position size + a proven consistent winning system= $$$$$$$$$$$$$$$$$$$$

Trade with OANDA, I´m not a fan from them, they are as good or bad as the others, except, you don´t trade lots, except on their MT4 plattform which I use for my charting. You trade in money not in lots or micro lots.
Adjust every entrance to your position size, (to the cent). Meaning your stop distance is always the same $ value, 1 min or dayly or whatever chart.
That´s your risk, R , always the same.
In my opinion anything bigger than 2 % is wild...the best system might produce 10 loosers in a row...you know, crazy market, own mistakes..etc...sooner or later it happnes...you loose half of your account and most of your confidence.

Check this:
4 trades a day (yes a lot of work)
1% risk per trade (comfortable and fun)
Average R expectancy =0,5 (win loose, etc.. average Rs you make)
Makes 2 % a day!
Makes 10 % a week.!!

OK so far?
Now 10 percent a week, starting with humble 1000 account...
Compound:
after 48 weeks, (1 year): 97017 (dollars or euros your choice in the menu a la carte)
after 2 years: 9412314 (yes that´s more than 9 million!)
after 3 years you have lunch with Warren... (Buffett)

Problem is at one point the brokers don´t take huge leveraged orders, I think Oanda ´s limit is 10 million...so you need to split orders , etc...a nice problem to have, considerning most human beings in this planet survive on 1 dollar a day...

Sorry for the long answer, but it´s fun...excell don´t lie.
Just don´t break it too soon risking too big...otherwise Warren will be waiting with his soup getting cold..

MM humble sugestion:
Correct position size + a proven consistent winning system= $$$$$$$$$$$$$$$$$$$$

Trade with OANDA, I´m not a fan from them, they are as good or bad as the others, except, you don´t trade lots, except on their MT4 plattform which I use for my charting. You trade in money not in lots or micro lots.
Adjust every entrance to your position size, (to the cent). Meaning your stop distance is always the same $ value, 1 min or dayly or whatever chart.
That´s your risk, R , always the same.
In my opinion anything bigger than 2 % is wild...the best system might produce 10 loosers in a row...you know, crazy market, own mistakes..etc...sooner or later it happnes...you loose half of your account and most of your confidence.

Check this:
4 trades a day (yes a lot of work)
1% risk per trade (comfortable and fun)
Average R expectancy =0,5 (win loose, etc.. average Rs you make)
Makes 2 % a day!
Makes 10 % a week.!!

OK so far?
Now 10 percent a week, starting with humble 1000 account...
Compound:
after 48 weeks, (1 year): 97017 (dollars or euros your choice in the menu a la carte)
after 2 years: 9412314 (yes that´s more than 9 million!)
after 3 years you have lunch with Warren... (Buffett)

Problem is at one point the brokers don´t take huge leveraged orders, I think Oanda ´s limit is 10 million...so you need to split orders , etc...a nice problem to have, considerning most human beings in this planet survive on 1 dollar a day...

Sorry for the long answer, but it´s fun...excell don´t lie.
Just don´t break it too soon risking too big...otherwise Warren will be waiting with his soup getting cold..[/quote]

HEY LONG ANSWERS ARE GREAT

I never risk more than 3 per cent of my total account.

If you trade the 1 min time frame stop any trade that goes against you 5 pips if your broker will allow you. You will have lots of losers, but the winners far outweigh the losers. 10 pips is my max stop loss on the 1 min TF.

I always look for 5 pips or more on the 1 min for profit taking

Let the winners run, you pickup lots of 1 min trades that run for 20 30 0r 40 pips. Somtimes you get in one and it runs for 70 or 80. Hit a couple of those and quit for the day.

If the trend is really strong put on a trailing stop and let it run.

In conclusion, my target is 3 percent daily

FXCM allows for a 50 million limit for their active trader accounts. 50k min deposit for that account, but has market visibility as well. I have been very happy with them.

[
In conclusion, my target is 3 percent daily[/quote]


If you compound weekly 15% from that dayly performance...well...start picking the colour of your own Ferrari, in which you´ll drive to Warren´s lunch..
..but you probably know that already...well done..

If you compound weekly 15% from that dayly performance...well...start picking the colour of your own Ferrari, in which you´ll drive to Warren´s lunch..
..but you probably know that already...well done..[/quote]

LOL cuchuflito, I don't always reach my daily goal, (I get lazy sometimes) but I do about 70 percent of the time. Heck no one is perfect. When you get to be my age, we seem to take more time off.

Have fun HH

I aslo wanted to mention that i like to hold my trades as much as possible, catch between 20 and 100 - 150 pips, (1H - 4H swings) since i can't spend too much time to be on the screen, so i'll share my swing system later on when i finish testing up the entries and TPs on the 5M...[/quote]

Interesting!
there´s a thread out there (http://www.forexfactory.com/showthread.php?t=245149)
... were some folks trade for thousands of pips...enter on H or 15,move to BE asap. then let it run...following the weekly and monthly trends...some of them claim they make millions...takes a ton of patience... like getting stopped at BE, or small loss 30 times in a row to get just one position running your way for months.

Using HH awsome entries, I will experiment , just for kicks, here and there...enter on 1 M, BE asap, then trail on the 4 Hour or even dayly!
Talking about a 1 / 50 Ratio!!??
The price is high though: lot´s and lot´s of patience..

Hi, there, could you explain more about why 1 minute is the appropriate time, many thanks.

Hi Dora

I think that if you go through the thread, particularly HH initial posts, he explains why he prefers / trades the 1 min charts.

I guess everyone is free to trade any time frame they deem it be appropriate.....its up to the individual.

GJ trade

First trade of the day.

Hoping to reach my target....at BE atm, so a free trade

Hit BE, and got a few pips.

Short EURUSD !

Close short and go long !

Short DAX !