1 min?

Discussion in 'Trading' started by focusonmoney, Nov 14, 2011.

  1. Does anyone successfully trades off the 1min chart only? I like looking at the 1 min, 5 min and 15 min for day trading. But a lot traders say the 1 min chart is just noise.
     
  2. jokepie

    jokepie

    Noise depends on ur trading time frame.
    Noise on 1 min is referred to the price flucuations...1 min can be used for entries by identifying intraday trend (if you can see it)
     
  3. Oh ok cool.
     
  4. NOISE
     
  5. noone3

    noone3

    I use 2-3-5min for short term
     
  6. bone

    bone ET Sponsor

    Why even attempt to compete with the bots and the automation ?

    Play to a strength.
     
  7. yea, I trade on the 1min chart

    I used to use 12 tick for the 6E and would increase it to to 21 or 30 if the market
    got busy, and usually started at 30 ticks for the ES
    but I switched back to time based charts to retain the consistency of the micro
    to the macro to cover the short term to long term and v v charts
    I also went down to 5secs, can't remember how that went, maybe I'll try it again

    it's possible to trade the waves of 1min charts, but is it worth the effort ?

    I am not trading 1min price bars, I use 1min because that's the amount of detail I
    want to see, but trades could last an hour and are really based on higher timeframes

    the opposite of '1min is noise' is people using multi hundred tick charts, can't figure
    that one. why use a 659 tick chart ? is it a magic number ? why not use time ?
     
  8. Most people on these boards are full of bullshit, so I would caution against taking any advice to heart before testing it out for yourself. It seems like people think they qualify as traders just because they have an account with an online broker regardless of their P&L statement or their lack of experience.

    A spread trader and a swing trader will of course say that the 1-minute is noisy, but what if I as a day trader told you that I took 3 winners in a row in the ES the last hour trading breakouts of flags on the 1-minute chart for a total profit of 8 points?

    My main chart when day trading have been the 5-minute, but during volatile period it is simply too tough to read as the bars get wide with large tails. Using the 1-minute helps me see what is going on behind the scenes. I do understand that people may perceive the 1-minute as noisy, but if one knows how to read it it provides valuable information. :)

    Bottom line is that it depends on you as a trader, what your style is and what you are trying to achieve with your trading. Makes sense? :)
     
  9. There IS no noise. It's ALL signal. One minute is waaaaaaay too slow. One second is best. Can't possibly fall asleep watching it.