Trading 5 minute charts?

What are your opinions on trading 5 min charts ? :slight_smile:

Know what your plan is, and stick to it.

The 1 and 5 minute charts require babysitting commitments.

They can be traded successfully, as long as your mm and entry/exit plan go hand in hand.

I’m a minute chart trader and find it to be my home. I’m sure the way I trade can be adapted quite easily to the 5M charts as it’s all based on PA, I just find even 5 minutes too long to see the next candle :eek::o

I like the faster pace of the minute charts.

How do you trade? Strictly indicator based or a price action (PA) based approach.

I think they’re great for finding really low risk entries into moves on the larger timeframes. But if you ignore the bigger picture and just look at the 5min chart, I think you might get burned in the long run :cool:

I trade price action along with indicators

I only trade on 5 min (1 min is too crazy for me and don’t feet my strategy). But for sure keep an eye on higher TF to avoid troubles :stuck_out_tongue:

My strategy is only scalping few pips with bounces on key fibo levels. The only indi I use is the stochastic oscillator and go on for pips.

The most interresting for me with smaller TF is to get a real time view of what’s going on. Like the hunter as soon as I see an opprtunity I jump on it, take what the market gives and wait for the next.

My main rules is never never never let a winning trade becomes a loosing one.

Yes i understand, i tend to ignore higher time frames to be honest. My stratergy makes consistent pips though on a real account.

Then why are you even concerned with other people’s opinions?

If it works, don’t be bothered with what others think;)

You should always take into account what others think if you don’t that means you are ignorant. Im not a perfect trader, so if people can add to my arsenal then i am grateful.

i personally think higher timeframes are important to look at.

5 min charts are good, but just make sure you look at the larger picture as well. Seems some traders forget that each step down in time frame is just a close more detailed look at the larger time frame charts. They really are not a different picture just a closer look.
Best
Matt