Hi All,
I’ve recently been trading on the 1 minute time frame and run into this issue when entering orders. Simply, by the time I can enter the values into a lot calculator, then transfer that info into the order ticket, it’s already a late entry and I often miss the move. It seems illogical to me that this is the process traders need to take to enter on the 1 minute. There must be a faster way, but I’m not able to find anything online that addresses this dilemma. Don’t think I can be the only one with this problem.
If it was me, I would just move over to the 5 minute charts.
I adress this issue in the way, that I trade the same lot size every time and counting pips/points. If you really want to trade the 1m-chart there is no other way in my opinion. If you are trading several pairs then you should set a fix lot size for every single one of them.
Even without reading further I can assure you that this is not a right trading way, If you wanna trade 1m candles you should at least check 5 min and 15 min to recognize the market and the dominating trend. But for not missing the chance (if this is the only problem, activate one click trading and use pending orders.
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Okay, great, thanks! I’ll try all of these. I mark-up the daily and 5m, and use the 1m for executions/entries. I’ve never used pending orders, but doesn’t it mean I’d have to set the desired price and stop loss in advance? That might be tough to do on volatile 1m candles, or am I missing something?