That’s so fast! Can’t imagine watching those. Are you watching charts for hours and hours?
Not hours and hours, but I defn keep looking at the charts without interruption if I have a position
How long are your positions normally open? Couple hours max?
I’m scalping, so no more than 15 minutes.
so how many trades in a day you think? ty!
ummm around 4-5 I think? Its mostly on demo, once in a blue moon if I feel confident I’ll go live and make some money, but I’m just starting out, and its really not about making the money just yet.I’m in the experimental phase, meaning I’m trying different time slots ( for EURUSD), I’ve just started to compare it to CADJPY bc things were getting stagnant. Tried some indicators, they’re not my cup of tea. Some price action pattern recognitions. Going short is definitely much more comfortable for me. I’m not sure if that’s a good thing just yet, but I’m just getting a healthy amount of practice and exposure before I dive in!
Yes, it’s right. The shorter the time period you use, the more candles you have to read. The volatility in a 1 to 3 minute time frame chart is more dense than the volatility of a 5 hour chart.
Instead of using candlestick, I suggest that you try reading price chart patterns. If you develop your analysis on normal price charts, it can be more beneficial.