Trading at M1.
We must be clear that this business is a business based on probabilities.
Therefore, there are no certainties, and hence it is essential to use Stoploss.
The most important thing in trading is capital management and risk management. These issues are not addressed in this thread, but you can find plenty of stuff out there, but in the end, the use of common sense disciplined, is more than enough for my purposes. While it seems much more professional to use a spreadsheet for your leverage, according to your risk appetite.
The only certainty we can say mathematically to open a trade is the amount we can lose.
I publish many charts in M1 timeframe. However my decisions are based on higher time frames H1, M15, M5 ... I mean I compose a plan from multitimeframe analysis.
Finally if the technical analysis in tune with the general plan, I get trades with high probabiidades success. Then I calculate the risk, and go into operation.
To open my trades, normally, I'll M1 timeframe, in an attempt to refine my posts as possible. Why? Because I'm a scalper and seeking intraday trades, whether in range (wide enough) or in small emerging trends in times of liquidity (new session or news). But I never forget noticing M5 and M15, which are for me the most important timeframes for intraday trading.
The rest is a matter of technique. At first post, I proposed a template for guideline, so it easy to interpret. But each must use those tools best known, and which becomes more comfortable.
We must be clear that this business is a business based on probabilities.
Therefore, there are no certainties, and hence it is essential to use Stoploss.
The most important thing in trading is capital management and risk management. These issues are not addressed in this thread, but you can find plenty of stuff out there, but in the end, the use of common sense disciplined, is more than enough for my purposes. While it seems much more professional to use a spreadsheet for your leverage, according to your risk appetite.
The only certainty we can say mathematically to open a trade is the amount we can lose.
I publish many charts in M1 timeframe. However my decisions are based on higher time frames H1, M15, M5 ... I mean I compose a plan from multitimeframe analysis.
Finally if the technical analysis in tune with the general plan, I get trades with high probabiidades success. Then I calculate the risk, and go into operation.
To open my trades, normally, I'll M1 timeframe, in an attempt to refine my posts as possible. Why? Because I'm a scalper and seeking intraday trades, whether in range (wide enough) or in small emerging trends in times of liquidity (new session or news). But I never forget noticing M5 and M15, which are for me the most important timeframes for intraday trading.
The rest is a matter of technique. At first post, I proposed a template for guideline, so it easy to interpret. But each must use those tools best known, and which becomes more comfortable.
Donde hay Patron no manda Marinero
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