To prevent this from happening, you need to clearly set the minimum allowable profit-to-loss ratio for yourself, and I believe that it should be kept above one, so that it is not painfully painful from the fact that one moose ate 5-10 profits at a time
and who says that it's hard to trade for 5 minutes in vain...
the main trade long term-my
every day I scalp for 5 -15 min with a large volume of 10-15 lots 3-4 deals a day with a profit of 10-15 PP is quite enough and about false signals, there are but if you follow your TS, everything will be good because on average, 7 profits account for a maximum of 2-3 moose so checkmate.waiting is normal
It is almost impossible to trade on a 5-minute time frame. First, there is no General overview of the current state of the market because of this, most unprofitable transactions occur. Secondly, even if the transaction is profitable, it will not always close the unprofitable one.
Totally agree with You on the updates very much, I would even say that a huge number of false alarms at the entrances to the transaction. However, many traders trade for five minutes and I would even say that they trade successfully. It all depends on the experience and of course the trading system.
---------- Message added to 14:53 ---------- the Previous message was posted in 14:49 ----------
Yes, indeed, if you take a small number of pips for five minutes a day and do not be greedy, then of course you can end up with a good profit, because everyone knows that the smaller the timeframe, the fewer pips you need to put in profit, but you can trade more often, thereby gaining experience.
There are many famous traders who used the 5-minute timeframe to analyze and enter a position. For example, Joe Ross and his hook trade. A man made a fortune on the stock exchange, trading on 5-minute charts. How do you like this example?
That's right, it's better not to be greedy. Sometimes it is because of it that we suffer losses. Although many people earn money from greed. I even heard the phrase from the movie "Wall Street-Money does not sleep" " Greed is good"
You can work on five-minute charts in principle, but of course you need to take into account the direction of the higher timeframe. If the five-minute trend goes up, then of course on the minute chart we only work for the purchase. And so on, plus indicators to help.
In 1946.R. Eliot's book "the Law of nature - the secret of the universe"was published. This year is considered to be the beginning of the discovery, development and application of wave theory in stock trading.it became applicable to the analysis of not only stock price charts, but also all processes related to mass psychology, including the history of the market community in General.
Wave Analysis was first applied in the mid-20th century according to Eliot's theory of market regularity. Subsequently, the VA was supplemented by studies of other classics, and today the works of Neely are widely known.
Find it and download it.he writes very useful things...
well, on a five-minute chart, you can stupidly use take profits. Open buy and sell deals and put take profits in the region of 10.Well for full confidence you can also put a stop loss in the region of 30 and double the lot when it is triggered
I advise you to forget about the fact that there is a timeframe of 1M. Why? It's just a set of noises. That is, in 1 minute, there has never been a trend reversal and other such important trading factors that become key in making decisions. The minimum timeframe is 5M. And the developers of the program METATRADER inserted the timeframe 1M just so that it was there.