1 Min PA Scalping | Forex Factory

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1 Min PA Scalping

  • #1
  • First Post: Edited Nov 5, 2014 5:57am Nov 3, 2014 5:56am | Edited Nov 5, 2014 5:57am
Welcome,

I trade the 1 minute timeframe looking for high probably setups that include trendlines and wedges.

I aim to make 3 trades averaging 3-5 pips each. I strongly believe in stoplosses, my trades are 1:1 rr

Below is my days trading,

I trade full time, but not everyday. Hopefully this journal can help those that wish to trade the lower timeframe and not be put off because most people suggest to trade the daily chart.

Feel free to post any 1 min PA trades (no indicators please)

DISCLAIMER: this thread is for educational purposes only
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  • #2
  • Nov 3, 2014 6:07am Nov 3, 2014 6:07am
good job. nice to see another no indi trader
don't predict direction, but dance with flow of water
  • #3
  • Nov 3, 2014 6:16am Nov 3, 2014 6:16am
Quoting priceaction1
good job. nice to see another no indi trader
priceaction1,

Thanks, I might be a new ff member but i've read your journal many times and your PA analysis is second to none.

All the best with your trading,
  • #4
  • Nov 3, 2014 8:13pm Nov 3, 2014 8:13pm
I wish you green pips!
FXcube
  • #5
  • Nov 4, 2014 1:40am Nov 4, 2014 1:40am
Quoting scalpforex
Welcome, I trade the 1 minute timeframe looking for high probably setups that include trendlines and wedges. I aim to make 3 trades averaging 3-5 pips each. I strongly believe in stoplosses, my trades are 1:1 rr Below is my days trading, I trade full time, but not everyday. Hopefully this journal can help those that wish to trade the lower timeframe and not be put off because most people suggest to trade the daily chart. Feel free to post any 1 min PA trades (no indicators please) DISCLAIMER: this thread is for educational purposes only {image}
Welcome to FF!

My questions...
How do you decide when to stop at 3pips when you have aimed for 5pips;
If your TP is 5pips, then your SL would be 5pips, does the R/R not change when you abort the trade at 3;
You aim for 3-5 pips per trade, are you consistently green daily?

I like your clean charts, hoping I'd be able to trade like that too some day.
Let it turn and find your entry.
  • #6
  • Edited 4:13am Nov 4, 2014 4:00am | Edited 4:13am
Quoting Intrepidpips
{quote} Welcome to FF! My questions... How do you decide when to stop at 3pips when you have aimed for 5pips; If your TP is 5pips, then your SL would be 5pips, does the R/R not change when you abort the trade at 3; You aim for 3-5 pips per trade, are you consistently green daily? I like your clean charts, hoping I'd be able to trade like that too some day.
Hi,

I've just signed on to my charts, had a lazy morning so far. Spotted an example that would explain your question really well.

EU 1 MIN

Before entering a trade I decide where my stop is, in this case it would be just above the high of the pin of the trendline = 3 pips
I try to only cut a trade at 3 pips if my stop is 3 pips

On the 1 minute timeframe I tend not to enter if my stop is 5 pips as in my opinion that reduces the probability of my tp being hit.

It greatly depends on the setup, if i'm playing the channels or wedge pattern like this trade then I would have waited for the 5 pip tp.

On the chart i've labelled where my entry would have been after the spread of 1 pip, and also the 3 pip and 5 pip tp. As you can see it would have been profitable if I had been on.

Lets get trading!
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  • #7
  • Nov 4, 2014 4:58am Nov 4, 2014 4:58am
Just like to point out that my stop loss will change slightly depending on the pair, the trade I just finished was 5 sl 5 tp, but this was eur/jpy so it's daily range is obviously different.
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  • #8
  • Nov 4, 2014 5:45am Nov 4, 2014 5:45am
Quoting Forexcube
I wish you green pips! FXcube
Thanks,

All the best with your trading also.

SF
  • #9
  • Nov 4, 2014 5:53am Nov 4, 2014 5:53am
Quoting scalpforex
{quote} Hi, I've just signed on to my charts, had a lazy morning so far. Spotted an example that would explain your question really well. EU 1 MIN Before entering a trade I decide where my stop is, in this case it would be just above the high of the pin of the trendline = 3 pips I try to only cut a trade at 3 pips if my stop is 3 pips On the 1 minute timeframe I tend not to enter if my stop is 5 pips as in my opinion that reduces the probability of my tp being hit. It greatly depends on the setup, if i'm playing the channels or wedge pattern like...
Good example I saw that after it'd played out (was longing and had my SL hit.)
It seems you enter before candle close.
Let it turn and find your entry.
  • #10
  • Nov 4, 2014 6:25am Nov 4, 2014 6:25am
EUR/USD 1 MIN

Another wedge breakout, for a quick 3 pips.

It doesn't matter about the amount of pips, it only matters about the r:r and pip value.

I'll probably call it a day, happy trading everyone..
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  • #11
  • Nov 4, 2014 7:48am Nov 4, 2014 7:48am
Quoting scalpforex
EUR/USD 1 MIN Another wedge breakout, for a quick 3 pips. It doesn't matter about the amount of pips, it only matters about the r:r and pip value. I'll probably call it a day, happy trading everyone.. {image}
Good job

can you make a list of the patterns you prefer to trade?
Let it turn and find your entry.
  • #12
  • Nov 4, 2014 2:03pm Nov 4, 2014 2:03pm
I generally try and get a 'feel' for where I think price is headed in the next few minutes, and go with it (as helpful as that is).

I do believe the 1 minute time frame is incredible once you work it out and conquer any fears about trading it, it isn't as fast paced as people perhaps think. An important thing to add is that my biggest strength in trading is patience, I can watch a lot of 1 minute bars and sit tight if there isn't a decent setup.

In terms of patterns, I look for wedges, trend lines or channels. I think playing the bounces off trend lines or channels gives good risk management.

Hopefully over the next few weeks you'll be able to see how I trade (if at all that's any help).

It's perhaps arrogant to think this journal can help anyone but if it does great, but also for me to have a record of my trades and any help or analysis is always appreciated. We never stop learning!
  • #13
  • Nov 5, 2014 2:24am Nov 5, 2014 2:24am
Quoting scalpforex
I generally try and get a 'feel' for where I think price is headed in the next few minutes, and go with it (as helpful as that is). I do believe the 1 minute time frame is incredible once you work it out and conquer any fears about trading it, it isn't as fast paced as people perhaps think. An important thing to add is that my biggest strength in trading is patience, I can watch a lot of 1 minute bars and sit tight if there isn't a decent setup. In terms of patterns, I look for wedges, trend lines or channels. I think playing the bounces off trend...
I'm hoping to learn from your journal.
Would this have been a good set-up, though the R/R is not same as your normal rule?
Attached Image (click to enlarge)
Click to Enlarge Name: M1 PA [USDJPY].png Size: 60 KB
Let it turn and find your entry.
  • #14
  • Nov 5, 2014 3:12am Nov 5, 2014 3:12am
Quoting Intrepidpips
{quote} I'm hoping to learn from your journal. Would this have been a good set-up, though the R/R is not same as your normal rule? {image}
Don't worry about my r:r, I just think anything 1:1 or greater is important. I've attached how I would have played that trade (in hindsight is obviously easier).

USD/JPY 1 MIN

Both would have worked 2:1 easily, with wedges I prefer the break of the flat line. So in the first example, the descending wedge I see that as sellers gaining more and more control with buyers gradually giving up (just my personal preference). The great thing about forex is that everyone is going to see things different and it's about finding out what works for you.
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  • #15
  • Nov 5, 2014 3:13am Nov 5, 2014 3:13am
EU 1 MIN

I love when a big bearish bar is followed by an upside down pinbar, go back in the past and see how many times this setup works.
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  • #16
  • Nov 5, 2014 6:35am Nov 5, 2014 6:35am
Momentum was up, bought on a bar that hadn't closed which I don't normally do.

Still 5 pips to add to my earlier 3 pips. That's me finished..

EURJPY 1 MIN
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  • #17
  • Nov 6, 2014 3:25am Nov 6, 2014 3:25am
This is what I'm focusing on right now...

EU 1 MIN

trade at your own risk...
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  • #18
  • Nov 6, 2014 4:22pm Nov 6, 2014 4:22pm
Quoting scalpforex
This is what I'm focusing on right now... EU 1 MIN trade at your own risk... {image}
Now why didn't I spot that? lol.

This one is in hindsight, seems the bears were exhausted and the bulls took over for a while.
Attached Image (click to enlarge)
Click to Enlarge Name: M1 PA [EURUSD].png Size: 58 KB
Let it turn and find your entry.
  • #19
  • Nov 7, 2014 12:11am Nov 7, 2014 12:11am
I'm looking at GU now.
Attached Image (click to enlarge)
Click to Enlarge Name: M1 PA [GBPUSD].png Size: 58 KB
Let it turn and find your entry.
  • #20
  • Nov 7, 2014 12:55am Nov 7, 2014 12:55am
Quoting Intrepidpips
I'm looking at GU now. {image}
I took the break of the diagonal line (on a reduced lot size) and cos I had to see a colleague, I set my WUKAR EA at 5:5 and my SL was hit.
Would have taken the upside break if I was at my terminal, it was good for >5
Attached Image (click to enlarge)
Click to Enlarge Name: M1 PA [GBPUSD] 1.png Size: 61 KB
Let it turn and find your entry.
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