Testing a 1 minute timeframe strategy - High Leverage | Forex Factory

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Testing a 1 minute timeframe strategy - High Leverage

  • #1
  • First Post: Edited Nov 22, 2014 2:09am Nov 12, 2014 7:26am | Edited Nov 22, 2014 2:09am

Hello Traders


My name is Paul and i have been trading for a few years now.

I'm going to open a new test account over the weekend with instaforex with a very high leverage, i will deposit around $50.

My aim is to trade my daily timeframe strategy on the 1 minute charts, as always the visual backtest looks great, it's when i go live with this account we will really see how it works.

Now, i have NOT traded this on the lower timeframes so this could go t*ts up or really well

The test will be for 4 weeks (on-going if it's successful) i will also make a forex factory trade explorer so you guys can check out the test as i trade it live.

After i finish rambling on here and if the test goes well, i'm in the middle of writing a free pdf for you all to download here on the thread and explain the strategy, so you can have a copy to hand on your pc or print it out

All links to updates will be posted here, to save time scrolling through the posts.

Thanks for reading and wish me LUCK
  • #2
  • Nov 12, 2014 8:03am Nov 12, 2014 8:03am
Quoting paulsfxblog
All updates will be posted here as an EDIT, to save time scrolling through the posts.
If you do this, your followers won't be warned about a new post. I would suggest you to make new posts and edit the post #1 refering to the update.

Wish you great!
MT4/MT5 EAs/Indicators/Alerts coder
  • #3
  • Nov 12, 2014 8:20am Nov 12, 2014 8:20am
Thanks for that FerruFX
  • #4
  • Nov 12, 2014 11:10am Nov 12, 2014 11:10am
wish you good luck with the test!

are you sure instaforex live is the way to do it though, really.
spread EU=3, GU=3, GJ=7....that just sucks, especially if you try something on M1 chart.

and now I deliberately ignore the scam alerts about that broker...
there is always, always another trade!!
  • #5
  • Nov 12, 2014 12:08pm Nov 12, 2014 12:08pm
Hi Paul

Great idea to trade your daily strategy on 1 min charts, they are all the same , the only difference is the spread being such a large transaction cost in ratio to the profits if you're scalping..

I love trading 1 minute charts myself so have fun. If I was to offer advice it would be to only trade market open times and tip toe around the news releases. I usually close out any positions before the news, can't afford to get caught by news spikes on a 1 min timeframe, ouch!!! 1 minute charts are notorious for noise so whatever your strategy is only trade it on pairs that are trending strongly.

Good luck
Feel the Fear and do it anyway!!!
  • #6
  • Nov 14, 2014 4:19pm Nov 14, 2014 4:19pm
Quoting clivepackham
If I was to offer advice it would be to only trade market open times and tip toe around the news releases. I usually close out any positions before the news, can't afford to get caught by news spikes on a 1 min timeframe, ouch!!! 1 minute charts are notorious for noise so whatever your strategy is only trade it on pairs that are trending strongly. Good luck
Yeah i always check for news reports before i trade and find a gap to trade between these.

I have took into account these spreads with my visual results of my system and can still average about 10 - 12 pips per trade.

A solid strategy that is traded and been practised perfectly with discipline on the daily timeframe, can be downscaled to the lower timeframes if you have the right mindset. Also, the use of MTF trading to trade with the major trend mixed in with watching the news releases and a great strategy should really be pulling you in +++pips each and every day.

LOOKING FORWARD TO MONDAY - LIVE TRADING
  • #7
  • Nov 15, 2014 10:40pm Nov 15, 2014 10:40pm
I also like 1 min charts, that's where all the major moves and trends start from, the 1 min charts!

Go for it Paul, I'll be keenly watching. Wish you all the best.
  • #8
  • Nov 16, 2014 2:18pm Nov 16, 2014 2:18pm
Thanks Timo7

Having a problem depositing funds into my instaforex account. I have deposited them, just, it seems to be taking a while to show in my account.

Support at instaforex say that they have received my deposit and i should wait patiently. Deposited on Thursday night aswell, usually takes maximum 24 hours. Never had this problem before with them

Trading may not start on Monday, could be Tuesday but let's hope they get it sorted for tomorrow morning.

Really looking forward to this challenge $10 - $1000 in 4 weeks using my strategy on the 1 minute timeframe. I would have liked to kept the original concept of the thread but i couldn't turn down this challenge.

Hope it goes well and hope that you all follow along with it.

Keep you updated,

Paul
  • #9
  • Nov 17, 2014 12:25pm Nov 17, 2014 12:25pm
STILL not deposited into my account, a measly $10 too. I deposited on thursday/friday i think, can't really remember. Usually 24hrs max it takes.

Really can't wait to get this thread and challenge off to a start!

Lets hope it is funded tomorrow.


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  • #10
  • Nov 20, 2014 8:54am Nov 20, 2014 8:54am
STRONG REVERSAL on 1minute chart.

Divergence on the rsi and on the 1 hour chart, price is resisting the 200ema.

The daily, weekly and monthly all showing strong down trend.
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  • #11
  • Edited 2:19pm Nov 20, 2014 10:27am | Edited 2:19pm
That reversal point turned out to be profitable

Doubled my account in 2 days!!
  • #12
  • Edited 12:23pm Nov 20, 2014 12:01pm | Edited 12:23pm
Sell signal on 4hour, im in with this one. Nice pin bar at the 50ema, that pin bar was also the new high of the day and failed to break the 50ema. And again the daily, weekly and monthly all showing strong downward movement.

The 1.57000 has been rejected alot lately on the 4 hour chart.

Sorry if this thread has gone off topic but i just love trading
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  • #13
  • Nov 20, 2014 12:45pm Nov 20, 2014 12:45pm
Quoting paulsfxblog
Sell signal on 4hour, im in with this one. Nice pin bar at the 50ema, that pin bar was also the new high of the day and failed to break the 50ema. And again the daily, weekly and monthly all showing strong downward movement. The 1.57000 has been rejected alot lately on the 4 hour chart. Sorry if this thread has gone off topic but i just love trading {image}
Great job man hope you are using a SL though.
will be keenly following.
Let it turn and find your entry.
  • #14
  • Edited 2:19pm Nov 20, 2014 1:55pm | Edited 2:19pm
Quoting Intrepidpips
{quote} Great job man hope you are using a SL though. will be keenly following.
Thanks Intrepidpips will still be trading my 1 minute strategy but if i see a chance to trade on any other timeframe i will place them on this account too, aswell as my main account.

I have a SL at 1.57361, just above the the pin bar.
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  • #15
  • Nov 20, 2014 5:56pm Nov 20, 2014 5:56pm
Hi Paul, nice going!

Are you working on that PDF about your method?

I'm looking forward to read it.

Keep it up.
  • #16
  • Nov 20, 2014 6:21pm Nov 20, 2014 6:21pm
I haven't finished it yet Timo7, i PROMISE i will get it done for Saturday

The trades im in just now have turned against me at the moment but im more than certain the price will drop in the next few hours.

Shouldn't really have took the trade but was to good an entry (pin bar on 4hr chart) to resist, especially with the daily, weekly and monthly all in a strong down trend.

Im gonna stay up and watch how it turns out.
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  • #17
  • Nov 20, 2014 7:04pm Nov 20, 2014 7:04pm
Quoting paulsfxblog
especially with the daily, weekly and monthly all in a strong down trend.
Hey Paul,

As an M1 Trader, I definitely encourage you on your journey, but would request you check this again based on actual market current price vs actual candle positions on your current template as applied to the longer time frame charts.

First off.

How many minutes in a day?
How many minutes in a week?

Where is current price?

Working with the M1 charts demands that you have an appreciation for the overall trend as applied by the smaller time frames.

Look at it as a single candle by way of perspective.

If the current price is above the candle open, we are long.
If the current price is below the candle open, we are short.

Pretty simple, right?

So when you look at the daily and weekly, take these into consideration without bias.

It will go a long way.

I promise.

Best of luck in your trades!!

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #18
  • Nov 20, 2014 7:44pm Nov 20, 2014 7:44pm
sounds great, I'm in
never traded 1m tf but looking forward to get to it too in soon future

green pips to all of us
  • #19
  • Nov 20, 2014 8:01pm Nov 20, 2014 8:01pm
BOOOOOOOM!
account blown got greedy and over traded!
  • #20
  • Nov 20, 2014 8:07pm Nov 20, 2014 8:07pm
Quoting paulsfxblog
got greedy and over traded!

You may have been greedy, but the issue was complacency...

You benefited from a bias, and kept the bias.

The Pavlovian market whistle is what consumed you.

Like you said, small account. Not the end of the world!

Look at the market analysis of your positions and try to understand why you made money on your first trades and why these weren't as successful.

Losing a trade sucks...but you never came into the game for the trades you lose, it is for the ones you win.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
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