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Most successful m1 method/system

  • #1
  • First Post: Jun 17, 2013 10:31am Jun 17, 2013 10:31am
Hi all,

I have been trying to trade forex for many months now, studying reading night and day, lost thousands, i know there is something there that works but need to find the right one.

I only registered with FF few months ago, I have looked through many threads and i'm confused more than ever although price action seems to make sense but can't fully grasp it.

I was hoping some of the helpful people can guide me to which systems/ methods are the most successful.

i understand some systems work better on different time frames so I was hoping if any one can advise me on a good method for M1, M5, M15 H1 AND 4H and maybe even D1.

Thank you all in advance.
  • #2
  • Jun 17, 2013 10:53am Jun 17, 2013 10:53am
Quoting mahk90
Hi all, I have been trying to trade forex for many months now, studying reading night and day, lost thousands, i know there is something there that works but need to find the right one. I only registered with FF few months ago, I have looked through many threads and i'm confused more than ever although price action seems to make sense but can't fully grasp it. I was hoping some of the helpful people can guide me to which systems/ methods are the most successful. i understand some systems work better on different time frames so I was hoping if any...
I love your willingness to come out of rat race. You can check the followimg links and choose the best system that works with your emotion.

http://www.forexfactory.com/showthread.php?t=114792
http://www.forexfactory.com/showthread.php?t=291622
http://www.forexfactory.com/showthread.php?t=343533
I am more afraid of 100 sheep led by a lion than 100 lions led by a sheep!
  • #3
  • Jun 17, 2013 11:00am Jun 17, 2013 11:00am
Quoting mahk90
Hi all, I have been trying to trade forex for many months now, studying reading night and day, lost thousands, i know there is something there that works but need to find the right one. I only registered with FF few months ago, I have looked through many threads and i'm confused more than ever although price action seems to make sense but can't fully grasp it. I was hoping some of the helpful people can guide me to which systems/ methods are the most successful. i understand some systems work better on different time frames so I was hoping if any...
No system will ever give you positive results - you will have to give yourself positive results with your trade management, ability to create and abide by rules, and emotional stability. That being said, I am getting close to starting a thread that will address some of those ideas with a "structure" from which people to grow from.

I am a scalper - I prefer short term trading. A 5m chart is my primary trend chart. I use indicators, but only to provide consistent and repeatable structures to trade price action from. While I'm cooking up my thread - I suggest you read Phil Nell's 5m chart strategy. That's the basis for my 5 minute chart as well. The THV thread is also a very mechanical trading system that has been profitable for me when I used it on the 1m chart. I like the Sonic thread (the original method), as well as Feb's "The System II" thread. Hmaoi also has a good trend trading 1 or 5m chart thread "Another Simple Moving AVerage System". These are all 1m or 5m chart threads that I have found useful.

For pure price action, you should look up Al Brooks - this guy keeps a thread explaining it and showing examples: http://ninetrans.blogspot.com/ . He trades S&P and crude oil futures, but the ideas are the same for any market. Regardless of whether you use the methods or not, the information is valuable. You could also spend some time at Trader's Laboratory going over the VSA threads and the Wyckoff threads. VSA has some actionable ideas (and is a bit more comprehensive than this PVRSA stuff in the Sonic thread), but Wyckoff is more just theory in my opinion. Nonetheless, important foundations for developing an understanding of the markets.

In the end though, really, its about finding what works for you. Do you like holding trades? Do you like intraday profits? My goal is to make $x each day in one to two hours. I don't like holding trades, I don't like large drawdowns. I like trading with maximum leverage and small stops (6-10 pips). I don't like holding when I'm not at the screen, and I don't like 100% mechanical because I like discretion in my entries.

Lastly, after reading all of these threads and all this stuff, you will have to remember to keep it simple. Once you figure out an actionable idea, it is remarkbly simple to be profitable at this. Its the hardest and easiest thing in the world - most people give up before they switch gets flipped, and they make it over the hump from method searching and constant frustration, to profitability and contentment.

My suggestion is this: open up a 5m chart, and next to it, open a 1m chart. Put a 50SMA on the 5 minute chart. When price is below it, you will look for shorts only, above it, look for longs only. For the actual entry, turn to the 1 minute chart. If price is below the 50sma on the 5 minute chart, you will SELL when the price reaches the upper bollinger band on the 1 minute chart. Dont wait for a candle close or anything, just short when it gets up there. Vice versa for longs. Your stop will 10 pips, and your target 10 pips or the previous low/high before the pullback started. If the price continues to move against you on your entrance, you will look to get out at BE. Over time you will begin to see when trends will continue and when trneds will fall apart. See the pic for an example (the yellow MA is 250 period simple to reflect the 50sma on the 5minute).
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Small disciplines repeated with consistency lead to great achievements.
  • #4
  • Jun 17, 2013 11:01am Jun 17, 2013 11:01am
The best system I found is called "Filipping Burgers at McDonald"
https://diamondmanagedfx.com/prop-firm-passing-service/
  • #5
  • Jun 17, 2013 1:06pm Jun 17, 2013 1:06pm
what strategies/system and indicators were u using?
Daytrader
  • #6
  • Edited Jun 18, 2013 12:05am Jun 17, 2013 11:55pm | Edited Jun 18, 2013 12:05am
Quoting mahk90
I was hoping some of the helpful people can guide me to which systems/ methods are the most successful.
Would you consider these two as successful system/method? Let me know what you think of their monthly performance and consistency.
http://www.forexfactory.com/showthread.php?t=420667 (his Myfxbook link)
http://www.forexfactory.com/showthread.php?t=424648
No longer trading forex. Looking for full time job.
  • #7
  • Jun 18, 2013 4:47am Jun 18, 2013 4:47am
Quoting mahk90
Hi all, I have been trying to trade forex for many months now, studying reading night and day, lost thousands, i know there is something there that works but need to find the right one. I only registered with FF few months ago, I have looked through many threads and i'm confused more than ever although price action seems to make sense but can't fully grasp it. I was hoping some of the helpful people can guide me to which systems/ methods are the most successful. i understand some systems work better on different time frames so I was hoping if any...

I also agree with you regarding price action trading.

Please check below thread.

One of the best places to learn about price action trading

http://www.forexfactory.com/showthread.php?t=367225
  • #8
  • Jun 18, 2013 8:23am Jun 18, 2013 8:23am
Don't pay anyone to teach you how to trade. There is more than enough information available. The problem is not finding the system; the problem is yourself. That is what you need to work on. Some mentors (that you pay) might be able to help with that, but a lot of free information addresses that as well. Find a system, and trade the rules as they were laid out 100%. Do not make excuses, do not make deviations, do not make your own rules. Just trade the system. The discipline is what is important during this stage.

Trade the Genesis system. I think it will is profitable on its own, but combined with some knowledge of markets, its probably a killer system. I would if I were to start all over again.
Small disciplines repeated with consistency lead to great achievements.
  • #9
  • Jun 18, 2013 9:34am Jun 18, 2013 9:34am
Hi all

Thank you all for your replies.

I'm currently working on understanding the 1 minute time frame using price action and using pivot points, round numbers and midpoints.

Many times I'm right in my decision but I need and indicator to help me be 100% sure on my trade, I understand there is no 100 % sure but you know what I mean,...

There are two threads which I know are good but I'm inexperienced in forex language and with these indicators so I cnt get them to work.

http://www.forexfactory.com/showthread.php?t=308231

http://www.forexfactory.com/showthread.php?t=339257


I know for m1 is the most suitable as it provides better entry and exits.

Please tell me your thoughts on this.

Thanks
  • #10
  • Jun 18, 2013 11:31pm Jun 18, 2013 11:31pm
Quoting mahk90
Hi all, I have been trying to trade forex for many months now, studying reading night and day, lost thousands, i know there is something there that works but need to find the right one. I only registered with FF few months ago, I have looked through many threads and i'm confused more than ever although price action seems to make sense but can't fully grasp it. I was hoping some of the helpful people can guide me to which systems/ methods are the most successful. i understand some systems work better on different time frames so I was hoping if any...
Talk to Turdyved about 1min trading, according to some he's the best one min trader they have ever met... to bad he trades 15 min now, otherwise you would be profitable in no time.
The best indicator is price.
  • #11
  • Jun 19, 2013 9:36am Jun 19, 2013 9:36am
To trade the M1 you have to be on the level of top F1 drivers.Its the most profitable,hence the most difficult to master...almost bordering on impossible for poor old public joe
wo-yoy! wo-yoy! wo-yoy! wo-yoi! wo-yoy-yoy-yoy!
  • #12
  • Jun 19, 2013 12:17pm Jun 19, 2013 12:17pm
Quoting mahk90
Hi all, I have been trying to trade forex for many months now, studying reading night and day, lost thousands, i know there is something there that works but need to find the right one. I only registered with FF few months ago, I have looked through many threads and i'm confused more than ever although price action seems to make sense but can't fully grasp it. I was hoping some of the helpful people can guide me to which systems/ methods are the most successful. i understand some systems work better on different time frames so I was hoping if any...
Best advice is forget about 1m and lower times until you can trade positive on daily. There is more room for success the larger the tf and vice versa. So look at daily with good mm.

good luck
  • #13
  • Jun 19, 2013 12:26pm Jun 19, 2013 12:26pm
Quoting pemully
To trade the M1 you have to be on the level of top F1 drivers.Its the most profitable,hence the most difficult to master...almost bordering on impossible for poor old public joe

the 1 mi candle stick forms too fast
  • #14
  • Jun 22, 2013 12:22am Jun 22, 2013 12:22am
Quoting mmaker
Would you consider these two as successful system/method? Let me know what you think of their monthly performance and consistency.
khanderoo, http://www.forexfactory.com/showthread.php?t=420667 (his Myfxbook link)
FelixFX, http://www.forexfactory.com/showthread.php?t=424648
Another successful system/method with TradeExplorer.
geomink, http://www.forexfactory.com/showthread.php?t=431322
No longer trading forex. Looking for full time job.
  • #15
  • Jun 22, 2013 12:49am Jun 22, 2013 12:49am
Its been three years and only now i was able to trade well because of the strategy which i had developed so it takes time and effort to develop a good trading strategy which the traders should try to develop from their own effort.
  • #16
  • Jun 22, 2013 1:12am Jun 22, 2013 1:12am
Quoting Greeneyez
Its been three years and only now i was able to trade well because of the strategy which i had developed so it takes time and effort to develop a good trading strategy which the traders should try to develop from their own effort.
Sounds like you can help some lost souls in this forum, would you guide these people out of their misery?
How long to be profitable?
How difficult is it to find an effective daytrading method?
No longer trading forex. Looking for full time job.
  • #17
  • Jun 22, 2013 3:15am Jun 22, 2013 3:15am
Confirmed: I am going to use the Sonic R method.
Also WHY are the "official" trading tools so complicated?
Much easier to work with Anyoption imo
uphill battle
  • #18
  • Jun 24, 2013 7:22am Jun 24, 2013 7:22am
Quoting Alanamc
{quote} I also agree with you regarding price action trading. Please check below thread. One of the best places to learn about price action trading http://www.forexfactory.com/showthread.php?t=367225

Totally agree with you mate. Chris is one of the best guys to follow regarding Price Action trading.
  • #19
  • Edited 8:06am Jul 4, 2013 7:52am | Edited 8:06am
Quoting mahk90
I have looked through many threads and i'm confused more than ever although price action seems to make sense but can't fully grasp it. I was hoping some of the helpful people can guide me to which systems/ methods are the most successful.
See if Goldenmember can guide you on your search for a profitable workable method/system. He is willing to help if you ask,

Goldenmember's trade journal with myfxbook
Quoting goldenmember
In this thread I'm going to try and provide information and techniques that will help other traders become profitable on a semi daily basis (as time allows during lunch). I'll go over many of the pitfalls of the retail trader (and there are a lot) and my take on how to read the market and make money.
http://www.myfxbook.com/members/gold...uprates/569536
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No longer trading forex. Looking for full time job.
  • #20
  • Jul 5, 2013 5:30am Jul 5, 2013 5:30am
I think the best method to profit from m1 trading is to apply simple PA logic. I wouldn't look for a hardcore system with 1000 rules. M1 is very fast and you don't have the time to think about the positions of 20 different indicators.

By learning to trade price action, and by practicing A LOT, you'll figure it out and start to see paterns. Then you can trade a naked M1 chart.
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