Anyone here do it? I think this is a great discussion especially for new traders.
We’ve had this discussion many times before and simply keep concluding that it’s a joke, one of the most stupid ideas you can get, unless uou want to throw your money away on some dodgy broker, or course 
So are you saying that it is impossible to trade the 1 minute chart. And why would you mention a broker? No broker on this planet is going to take the time to trade your account on a 1 minute chart. I am talking about doing this yourself. So you say its impossible to do?
If you are going to trade 1 minute charts or tick charts, i suggest you trade futures. Or anything at a centralized exchange with a real market. Otherwise it is just not feasible.
Wow, I cant believe the answers I am getting here! So no one on this forum successfully trades the 1 minute charts in Forex… I can’t be the only one. BTW Both of you are wrong, in case you haven’t gotten that yet from my response. lol
I wouldn’t go as far as saying that no one in this forum has made money trading one minute charts, they’re just saying its extremely difficult and very unlikely that many people have been profitable at it.
What I think makes it extremely difficult is the spread/commissions eating into your profits. If you have a 10 to 12 pip limit on your trades, the spread/commissions eats 20-25% of your profits. You would be hard-pressed to find a strategy that has a high enough edge to overcome that. I think this is a concept that few really understand.
LouisXIV you have some great points, but, if you can get in the top of the trades and out at the bottom then the commission is not as much of a factor. Also I don’t want to just go into the discussion saying how I do it, not looking to make this thread a plug, but I really want to see who else is achieving this besides me and how they are doing it. Also I think this discussion is very appropriate b/c I would like to bring some attention to how throwing away the predictive model is actually a better way to trade for the average Joe. SOOO for the non-believers or people who do not know the power of trading the 1 minute chart… stick around and you might just be very happily surprised.
A great discussion to promote your service/software??
Glider I just answered your question above, no I wont have to plug my product… Lets keep this real… Who else trades the 1 minute charts and how are you doing it. Hell promote your own stuff here, doesnt bother me, but I want to see who is doing this…
I guarantee what i post will def be educational, not promotional
You can find one minute charts for entries on scalping and even see resistence for the short term but i would agree on 1-3 pip targets would be very difficult.Futures and ticks would be your best way for that.
No way, I do this on forex and I know others do too… it doesnt just have to be futures. And I wouldnt even call it scalping… hell what we consider scalping isnt even really where that term came from, but anyway, you dont have to just take 1-3 pips on a 1 minute chart, you can def. catch runs as long as 20 pips or more if you know when to enter the market and have a good rule set to keep you disciplined.
I’ve traded tick, 30 sec, & 1 min charts, it is really not a big deal if you know what you are looking at.
I don’t use CMS’ VT trader platform anymore but when I did I would throw a 200ma & 600ma on the tick chart and trade the swings of the tick line off the moving averages.
A few times a month I’ll use Heikin – Ashi candles, 60 ma bolls bands and trade the candle color changes off the bands or in the direction of the 60 ma.
Why don’t I do it all the time? It just seems a lot easier for me to check in with my charts every 15m, 30m or hour, then I can go back to watching TV, surfing the net or to sleep.
It is all just price swings back and forth between and through S/L levels, it’s really not a big deal!
Personally I use tick charts and < 5 min charts on a daily basis. But I just prefer futures, its simple as that.
Oh ok, I just felt you were saying it can only be done in futures… sorry for that
Yea I can def see how trading longer time frames can be easier on your lifestyle… But how do you determine when to actually get out of your trade? I am assuming its just not when you make enough money right?
Three ways, usually I like to set a price target based on what I’ve risked. I will settle for 1:2 but for look for 1:3 or better. Sometime I’ll run a trailing stop behind the trade, or watch the trend fade using Heikin Ashi candles on a 5m or 15m chart.
PS oh I forgot a fourth way, price goes the wrong direction and I get stopped out!
OK well those are all valid ways, i personally dont like stops bc the banks can see them and will take you out if you feel like it, but i guess what i was more curious about was how do you determine the end of the trend or run? I mean you dont want to leave any money on the table so I would say watching for the trend fade is the best way to go right?
What is the current price right now on the one minute chart? What is the current price right now on the daily chart? If price moved 150 pips today on an hourly chart how many pips did it move on a one minute chart? How many pips is the spread right now on the one minute chart? How many pips is the spread right now on the weekly chart?
It moved enough pips to make some good money on the EUR/USD thats for sure! Actually did anyone trade that today? Nice big range day huh?