Does anyone trade off the 5 second chart?

Does anyone here have success stories working off the 5 second chart?

Honestly I didn’t know 5 second charts even existed. The smallest chart I will trade is 15 minutes. The easiest for me are the daily charts so I’m not looking at the charts all the time and I have a life.

I have a 1min chart but I haven’t heard of a 5 second one before.

Im using the Oanda demo and they offer 5, 10 and 30 second charts.

Heck with time frames that small, you might as well work off a tick chart…:smiley:

I tried a 5 second scalp strat on Oanda’s charts but by the time you get out of the spreads you lose sight of the candle you entered on lol.

Fun to watch, not so much to trade.

There can be situations where a 30s chart can be useful but 5 and 10 don’t do anything for me.

It all depends on trading style and if you’re a beginner my suggestion is that you trade nothing less than 3H/4H charts until you can show to yourself that you’re consistently profitable over a few months.

Like most beginners I like the shorter time frames. I like 15m, fast enough to be interesting, slow enough to be profitably traded. But due to scheduling problems I have to stick to the 1h. You could trade bollinger bounces on the 5m but not sure if that something a beginner should try. Would not recommend going any lower than that. Stick to 1h and higher, or 15m & 30m if you can be in front of the charts all the time.

Price movements in that timeframe are mostly noise. Steer clear of it. You’d have to be running an EA to be able to act fast enough, and even that probably isn’t good enough given the spread.

see it depends on what suit you, yes you can be profitable on the 5 sec chart hell u can even be profitable on the 1 sec chart.

For eg on the 1 sec chart there’s a very well known and time tested method clalled cyrox rainbow scalping its been around for several years and still going strong.

On the 5 sec i have personally used a method by a trader called Tony over at ff, was it profitable? yes it was ! problem is you have to sit and stare at charts for many hours a day … now that did’nt suit me … I just can’t do it.

On 10 sec charts there’s a trader called Magelllan who is up several thousand percent and has not only won trading competitions but posted his live statements as proof his method works.

So to answer your question yes there are people who are enormously successful on 10 sec, 5sec, 1sec and even tick charts. It depends on what style suits the trader.

In the markets different things work for different people there’s no one way.

I guess it depends on your definition of “success stories” and what’s “profitable” and “practical”. I don’t use 5 second charts but have used two similar methods.

A tick chart with 100 & 700 tick moving averages… and 30 second charts using Heiken-Ashi candles. I would consider both methods profitable, but unless you have a really big $$$ account not very practical.

Being glued staring at the screen for 17 hours, consuming 3 gallons of coffee, 5 1/2 packs of cigarettes and ending the day with a $21.00 profit just ain’t a great way to spend the day! Didn’t even cover the cost of the cigabutts*. Both methods worked great on my $50K demo account, but really suck on my real weenie money account!

thanks!

PS *I really don’t smoke anymore, been 20yrs - 19 days and around 7 hours since my last smoke, but the coffee addiction lives on!

I hear you exactly! What works will depends on the sense modality and trading style.

[B]Yes, I do trade off the 5 second chart . . . but don’t soley trade off of it. . . . but DO USE IT to enter the trade ONLY WHEN a proper trade set-up appears off the longer-term charts . . . then, “zoom-in” on the 5 second for the exact entry point of the chart. I always look at 3 - 4 different time frames to see and compare the basic trend on each, then when I see a technical trade set-up forming, then go to the 5 second to “fine tune” the exact entry breakout.[/B]