I find the 15min might be a better option to trade off when tracking a 1H trend. It really depends on price action, but the nature of the forex market, being so I've seen trends on the 5 minute which never showed much signs of weakness. But from a day to day perspective, and trading intraday side ways patterns, i would say 15m is somewhat safer. It really depends on what you're more comfortable with.
When I trade I always have the Daily, 4H, 1H, 15m and 5 opened at the same time.
I find a setup either on the 4H or 1H, and then take a trade on the 5M or the 15M. The problem is that the 5 min trend will tend to "fail" every 3rd retest, making it somewhat hard to put a good stop on. whippy, and also depending on which pairs you trade, can make the 5 minute some what difficult to track for tight stops. That isn't to say that you cannot use the 5 minute,
hey great video.. Im a scalper working on several pairs. Do u trade on the 5 mn. chart or on the 1 minute chart? I first chose to see the trend at 15 min chart and then pull the trigger at the 5 minute chart.. what do u recommend?
Hey - what program are you using? I am starting through GCG FXtrade - scalping 10-30 sec time zone. Making abit but not amazing cash, I am just doing NY/LON tz overlap atm.
Trading forex takes years of studying charts and sitting infront of the screen. "Screen Time" as HectorTrader says and I, and many other traders and my mentors have always encouraged. You have to put in the time and you have to be passionate about trading, if not do something else. It will bankrupt you several times and that's the reality of it, so spend your money wisely.
really enjoyed watching your video. I've just started trading with a practice account on FXCM. Have been losing too, which is probably a good sign as it showing that it just ain't that easy.
It is interesting watching how quickly you manipulate the indicators to make your decisions. Are all the horizontal lines finanaci lines?
Plus, could you tell me your opinion on scalping? Is this form of trading something that works best for you or do you go long as well?
Thanks for watching, that's a great idea to start with a demo account, but trade it like it's your real money. You'll learn the lessons of trading and you won't burn your real money.
I would not recommend scalping in Forex as the ranges can be very large defeating the purpose of a tight stop. This should only be attempted on very narrow ranges or fast powerful trend moves.
I market make for a US fin institution, and scalping stocks is much easier than forex.
I find the 15min might be a better option to trade off when tracking a 1H trend. It really depends on price action, but the nature of the forex market, being so I've seen trends on the 5 minute which never showed much signs of weakness. But from a day to day perspective, and trading intraday side ways patterns, i would say 15m is somewhat safer. It really depends on what you're more comfortable with.
TradingIsmyLife 2 years ago
so true ..
franciscoler 2 years ago
Hi Francis,
When I trade I always have the Daily, 4H, 1H, 15m and 5 opened at the same time.
I find a setup either on the 4H or 1H, and then take a trade on the 5M or the 15M. The problem is that the 5 min trend will tend to "fail" every 3rd retest, making it somewhat hard to put a good stop on. whippy, and also depending on which pairs you trade, can make the 5 minute some what difficult to track for tight stops. That isn't to say that you cannot use the 5 minute,
TradingIsmyLife 2 years ago
hey great video.. Im a scalper working on several pairs. Do u trade on the 5 mn. chart or on the 1 minute chart? I first chose to see the trend at 15 min chart and then pull the trigger at the 5 minute chart.. what do u recommend?
franciscoler 2 years ago
Hey - what program are you using? I am starting through GCG FXtrade - scalping 10-30 sec time zone. Making abit but not amazing cash, I am just doing NY/LON tz overlap atm.
CCPnoob 2 years ago
Trading forex takes years of studying charts and sitting infront of the screen. "Screen Time" as HectorTrader says and I, and many other traders and my mentors have always encouraged. You have to put in the time and you have to be passionate about trading, if not do something else. It will bankrupt you several times and that's the reality of it, so spend your money wisely.
TradingIsmyLife 3 years ago
really enjoyed watching your video. I've just started trading with a practice account on FXCM. Have been losing too, which is probably a good sign as it showing that it just ain't that easy.
It is interesting watching how quickly you manipulate the indicators to make your decisions. Are all the horizontal lines finanaci lines?
Plus, could you tell me your opinion on scalping? Is this form of trading something that works best for you or do you go long as well?
Many thanks and best wishes
nick
naquinn1 3 years ago
Hi Nick
Thanks for watching, that's a great idea to start with a demo account, but trade it like it's your real money. You'll learn the lessons of trading and you won't burn your real money.
I would not recommend scalping in Forex as the ranges can be very large defeating the purpose of a tight stop. This should only be attempted on very narrow ranges or fast powerful trend moves.
I market make for a US fin institution, and scalping stocks is much easier than forex.
TradingIsmyLife 3 years ago
damn dude your trader software its amazing were do u get it¿ if gou the FXCM trading one
alexshadow2412 3 years ago
Yo, it's GFT forex's - dealbook 360 platform
TradingIsmyLife 3 years ago