Ok, yesterday was a shock to me. I’ve been trading for years (+6yrs) and basically been break-even the whole time. Focusing on daily, h4 and h1 charts. It got to the point yesterday that i almost gave up. “This is not gonna work and i’m gonna quit” - Its Friday and i basically had given up trading mentally. So my last desperate move was to “lets just see the 1-min charts for fun!”
Bullflags after bullflags! 16 trades later i was up 13%. (risking ~2-2.5% per entry) I was in shock! It was so easy to read, i felt like all my chart analysis skills came together and i was a rockstar!
Now somebody tell me, is this even possible!? all these years people have been telling me that everything below h1 is “noise” - It didnt look like noise to me, actually it felt like reading a book. You could see so clearly how market reacted to certain patterns and S/R levels. When correction trendline gave up the price dropped like a rock.
One major thing i learned was that if im gonna do this again i need to set timelimit so i dont get mentally exhausted.
These are not normal market conditions and expecting to get the same results on a “normal” day is unlikely to happen, but if you think it works for you, then it’s worth a try.
M1 charts are just noise. But if you you jump on a fast-moving price in the right direction and get out before it reverses, you will make money.
The reason its called noise is because the chart itself does not tell you what to do. So you’re jumping into a river blindfolded and starting swimming with no idea which way the current is going. You might get it right and make a lot of money: time your jump wrong and you will hit the rocks at the bottom or get swept away or just float in still water right next to the dock getting colder and colder. For most traders, TA is a way to avoid guessing - that doesn’t mean you cannot guess and be right sometimes but it does mean you’ve thrown away your life-belt.
If you find something that consistently works for you I mean continue to do it. It does take a long time to develop your niche but if you find something that works continue to do it until it doesn’t
I always feel like one minute timeframes are just very gamble mentality as opposed to trade mentality but if he is using sound tactical analysis and it’s working more power to him
These are not normal market conditions.
Great if you could actually pull it off consistently, but your original idea of sticking to longer time frames is more sustainable, just try to improve on that.
