One minute charts anyone?

[alexandru987]

Hello everyone!

I`m trying to fund an account now for trading 1 minute charts here...wanted to know if anyone else is doing this? My main question is how fast is the execution?

Also what is the difference between scalping and normal trading?(i usually hold my trades for more than 5 minutes, sometimes 1-3 hours)

Will my trading style be welcomed here?


Looking forward to hear from you!

[getpaid2trade.com]

The style of trading you describe above is more likely to be referred to as 'Intra-day' trading. Scalping, true scalping, is when trades are entered and exited in seconds not minutes. Now as I mentioned in another thread ECN would be the best route to take even for an Intra-day trader, but none the less your style of trading is welcomed and you should not run into any problems.

I have traded on 5 min and 1 min charts and the execution on the Standard and Micro servers is about 1 to 3 seconds in most instances during normal market volatility.

[alexandru987]

Thank you for your fast answer.

I`ll need to see how it goes with my internet connection. 1-3 seconds is good enough. If all goes well i`ll upgrade to a ECN in due time, when my account reaches acceptabile balance.

It`s very good to know my trading style is welcomed.

Thank you for all the help. Have a lovely weekend.

[DollarBull]

Thank you for your fast answer.

I`ll need to see how it goes with my internet connection. 1-3 seconds is good enough. If all goes well i`ll upgrade to a ECN in due time, when my account reaches acceptabile balance.

It`s very good to know my trading style is welcomed.

Thank you for all the help. Have a lovely weekend.

One minute is actually a very long period in relation to trade orders. Prices can jump by 80 pips in a minute during events. Most brokerages fill orders much faster.

Problem with 1-min chart trading is, the beta (volatility) is so large that one cannot confidently recognize any directional signal. The price can swing bothways in seconds and you will be making more money for the brokerage and mostly losing your own.

There are high quality signals for long-duration trading (like hours to days) but most short duration signals are extremely weak and there aren't any proven signalling methods to enter and exit. Eye-ball gazing of the chart is very deceptive.

[vwonder]

One minute chart is not to be traded, there is no mechanism for trading it, It covers too short a time span, It is very volatile and it is more unpredictable. Get the idea of trading it out of your head or loose all the money in your account. Trade at most the five minute and that while looking at 15m chart and 1hr chart price action, trendlines and pivot points.
Most importantly trade the 5m Chart in relation to your calculated pivot points.
Beware it is not more profitable to trade the 1mC and it will never be. If you doubt, try making 20% of your account in 1 week trading the 1mC in a demo account

[alexandru987]

One minute is actually a very long period in relation to trade orders. Prices can jump by 80 pips in a minute during events. Most brokerages fill orders much faster.

Problem with 1-min chart trading is, the beta (volatility) is so large that one cannot confidently recognize any directional signal. The price can swing bothways in seconds and you will be making more money for the brokerage and mostly losing your own.

There are high quality signals for long-duration trading (like hours to days) but most short duration signals are extremely weak and there aren't any proven signalling methods to enter and exit. Eye-ball gazing of the chart is very deceptive.

Well, it`s the same thing to long term trading. You just use a 10-12 pip SL and profit... well profit target depends, i sometimes close after only 2-8 pips but some trades get 50-100 pips.

And if you lose, you only lose 12 pips. It`s a great way to earn a lot of pips per day. BUT you must be able to accept losses(that part took me a long time to learn) and watch the screen all the time. After a little time you will learn the patterns and your trades will get better and better.

And the low pip value for the stop loss means if you win 100 pips in a trade(has happened a lot of times with eur/jpy and gbp/usd) when the 12 pips = 3%, you just made 25% in one trade. With a SL of 100 pips you need a much bigger move and a bigger time period to reach the same target.

All the best,
Alexandru

[alexandru987]

One minute chart is not to be traded, there is no mechanism for trading it, It covers too short a time span, It is very volatile and it is more unpredictable. Get the idea of trading it out of your head or loose all the money in your account. Trade at most the five minute and that while looking at 15m chart and 1hr chart price action, trendlines and pivot points.
Most importantly trade the 5m Chart in relation to your calculated pivot points.
Beware it is not more profitable to trade the 1mC and it will never be. If you doubt, try making 20% of your account in 1 week trading the 1mC in a demo account

I made 1000$ from 80$ in a live account(with forexyard) in 4 days.(i was using a much higher risk)(i had only 80$ left after trying to trade the higher timeframes)

I am trying to set up an account with fxopen for this specifically. I will use a miniaccount, if all goes well, i will upgrade it as i make money.(right now i am waiting for alertpay to process my bank transfer to them)

Why fxopen? Becouse it has low spreads, cashback oportunity and i hope fast enough execution. Also the posibility to upgrade to ecn later.

I do use another system for trading 1h candles, and it`s succesful so far. But i think this 1 minute system i plan on using will be much better.

If all goes well, i will try to keep a journal. By all goes well i mean if i can trade it. I know it works, actually most systems work, the only variabile is the trader, some traders can`t trade certain systems, some are not pacient enough, others are too slow to react, and so on...

All the best,
Alexandru

[FXOjafar]

Thank you for your fast answer.

I`ll need to see how it goes with my internet connection. 1-3 seconds is good enough. If all goes well i`ll upgrade to a ECN in due time, when my account reaches acceptabile balance.

It`s very good to know my trading style is welcomed.

Thank you for all the help. Have a lovely weekend.

By all means, go ECN ASAP. It's perfect for scalping. Interbank spreads, really instant execution (and I mean right away instant), and no 10 pips from market price limit for setting a scalp target of like 5 pips or something.

[getpaid2trade.com]

I made 1000$ from 80$ in a live account(with forexyard) in 4 days.(i was using a much higher risk)(i had only 80$ left after trying to trade the higher timeframes)

I am trying to set up an account with fxopen for this specifically. I will use a miniaccount, if all goes well, i will upgrade it as i make money.(right now i am waiting for alertpay to process my bank transfer to them)

Why fxopen? Becouse it has low spreads, cashback oportunity and i hope fast enough execution. Also the posibility to upgrade to ecn later.

I do use another system for trading 1h candles, and it`s succesful so far. But i think this 1 minute system i plan on using will be much better.

If all goes well, i will try to keep a journal. By all goes well i mean if i can trade it. I know it works, actually most systems work, the only variabile is the trader, some traders can`t trade certain systems, some are not pacient enough, others are too slow to react, and so on...

All the best,
Alexandru

Good choice. I would most definitely look to upgrade to ECN once you had a large enough bank roll, however for now you should see decent enough execution on the micro MM servers in order to suit your needs.

[Norlac]

It's interesting to note that you made that much in just 4 days of trading with forexyard. I guess such events that lead to that returns don't happen daily or on a regular basis during trading or while trading. I don't know what to say if it was share luck or otherwise. Kindly brief us no your trading strategy. Looking forward to hearing from you.

[DollarBull]

It's interesting to note that you made that much in just 4 days of trading with forexyard. I guess such events that lead to that returns don't happen daily or on a regular basis during trading or while trading. I don't know what to say if it was share luck or otherwise. Kindly brief us no your trading strategy. Looking forward to hearing from you.

I do not believe there is any method or strategy that can even remotely be consistent in the 1-minute interval. I do not trust such claims. Even the best minds in quantitative trading field have not been able to find a consistent method in the hourly patterns to generate daily profits. The price as a variable IS random and will defy any attempt to find regular patterns by expanding its volatility and destroying the signal because existence of any predictable pattern is an enemy of itself - as traders will jump in to cash on the predictable patterns destroying that predictability.

This is not to say that one can't make $80 into $1000 in a week; occasionally I have been able to make $80 into $2000 in just one day playing on the whipsaw patterns but the next day has always been a disaster. Thus, isolated examples do not form the basis for a robust claim. Traders must find their own strategy that works best for their conditions like margin, profit goals, patience, risk tolerance and timescales.